Will Warren Buffett Add to His Visa Position in 2023?
With many analysts and companies predicting and preparing for a recession, one company stands out from the others: Visa (NYSE: V). In the conference call for its 2022 fiscal year fourth quarter (ended Sept. 30), Visa's chief executive officer, Al Kelly, stated, "We did not factor a steep economic downturn or a recession into our numbers" for the company's 2023 outlook.
If that doesn't get investors talking, I don't know what will. To be clear, he noted if a recession does occur, it will have an impact, but he is focusing on "managing our business for the medium and long term." This kind of thinking is one of the reasons famed investor Warren Buffett owns a stake in Visa, although he reduced his holdings in Q4 2021.
Is 2023 the year Buffett adds to his Visa position? Or will it be trimmed entirely? Let's find out.
Source Fool.com
