American Express Stockholder Since...

With discretionary spending going down and the ability of consumers to repay debt in question, most investors think it makes sense to steer clear of American Express (AXP Quote). And in the near term, I totally agree. However, over the long haul, I wouldn't bet against these guys.

What makes me so optimistic?

American Express has a terrific brand, and it's expanded into many different facets of financial services, including annuities, banking, mutual funds, charge cards and investment advisory services. As a result, I can't help but think that its efforts to build a "one-stop shop" will ultimately be successful. Put another way, I have no doubt in the near term that the lingering economic uncertainty and business interruptions caused by last month's terrorist attacks will take their toll. But for the most part, the worst appears to have been factored into the stock price. ...