American Express Caters to Affluent Spenders. Can That Cushion It If the Consumer Cracks?

There's a reason that American Express (NYSE: AXP) is one of Warren Buffett's favorite stocks. It's not only one of Berkshire Hathaway's longest-held stocks; it is also one of the conglomerate's largest positions.American Express is not the largest credit card company or payment provider, but it occupies a unique position within the industry. First, American Express is a closed-loop provider, meaning it is a credit card issuer and lender with its own network. In addition to swipe fees, it also generates interest income on the loans.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool