MasterCard (NYSE:MA) is the world’s second-largest payment network and one of the best known global brands. MasterCard is among the most attractive businesses we own. Its network is well entrenched within the plumbing of payment systems across the global. The transition from cash to digital forms of payment provides growth opportunities over and above underlying economic expansion, and its core business produces healthy doses of excess cash flow with modest reinvestment requirements.
From Wallace Weitz (Trades, Portfolio)'s Weitz Partners Value Fund 1st quarter 2016 commentary.
