Is American Express Stock a Millionaire Maker?
American Express (NYSE: AXP) has been a winning investment. In the past 30 years, the share price has climbed 3,090% (as of Jan. 8). Including dividends, the total return comes out to 4,570%. Had you invested $22,000 in early January 1996, you'd have $1 million today. Historically, American Express has been a millionaire-maker stock. But can the financial stock keep this up in the future?
Image source: Getty Images.
Before thinking about the money-making potential of any investment, investors should question if there are durable competitive strengths. These make up a company's economic moat. And if these are present, it's a good sign that this is a high-quality business worth digging deeper into a bit. American Express fits the bill here as showcased by the stock's remarkable past performance. There are two key aspects of its moat that investors should be familiar with now.
Source Fool.com
