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Sarat Sethi Likes American Express

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Sarat Sethi spoke on CNBC's "Fast Money Halftime Report," about American Express Company (NYSE: AXP). JPMorgan downgraded the stock to Underweight, citing slow recovery for discretionary and leisure travel spending.

Sethi owns the stock because of its valuation. He said it's a world-class company and he is not buying it for the next two or three quarters. He is buying it for at least two to three years. The company has technology and information on all the largest companies and customers.

He also owns Paypal Holdings Inc (NASDAQ: PYPL), Mastercard Inc (NYSE: MA) and Visa Inc (NYSE: V) because he wants to be diversified across all the transaction-based companies.

 

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Posted-In: CNBC Fast Money Halftime Report Sarat SethiMedia