Visa (V) manages a group of global payment card brands, which it licenses to financial institutions that issue cards to their customers. The firm acts as the payment processor by facilitating the authorization, clearing and settlement of transactions on its proprietary networks.
Church said Visa has a "great business model and really are a technology company and not a credit card company. The beautiful thing is that with the growing use of mobile devices in (financial) transactions, it's like a toll booth on the global superhighway."Visa's only real competitor is the bigger MasterCard (MA), but Church says Visa is cheaper. "They are a duopoly" in their industry. Visa shares are up 37% this year and have a three-year average annual return of 22%. They have a market value of $77 billion.
Statoil ASA (STO) is a Norwegian oil company that sells as an American Depositary Receipt (ADR). Norway retains a 67% stake, and most of its oil and gas production is offshore. Operations also include oil refineries, natural gas pipelines and retail fuel outlets. Church says "it owns the largest gas pipeline going into the eurozone. And it pays a big dividend. They're looking great going into next year." Statoil has a market value of $82 billion and its projected dividend yield is 3.64%. Its shares are up 12% this year and over 10 years they have an average annual return of 18%.
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