My Top Warren Buffett Stock for 2023
Warren Buffett's Berkshire Hathaway holding company owns many stocks across multiple sectors. However, even the famed investor himself would probably point to a few companies he likes more than others. One of those is Visa (NYSE: V). To me, this stock his company owns has strong potential for 2023.
Visa outperformed the market this year, with the stock down 5% in 2022 versus the broader market's 18% loss (as gauged by the S&P 500). However, multiple catalysts exist in the payments processing giant that could drive Visa to outperform the market again in 2023.
Visa's business model isn't that hard to understand: It issues credit and debit cards on behalf of banks and runs a payment processing network, charging a small fee each time its cards are used. This toll booth model creates impressive margins, with Visa's profit margins regularly coming in above 50%.
Source Fool.com
