VISA IPO? Priceless

If you missed the Mastercard (MA), you will get a second chance with VISA - however I think the cat is out of the bag and I expect the 2nd biggest IPO in US history to open with a huge premium. Therefore the only people who benefit are those connected folk who get the IPO price. (this is why I need a real mutual fund) ;)

• Visa Inc., the world's largest card payments processor, filed plans for a $10 billion initial public offering late Friday, following its main rival MasterCard Inc., which went public in May 2006.
• Visa said it generated net income of $771 million in the first nine months of this year and operating revenue of $3.73 billion. Last year, the company made $437 million on $3.91 billion in sales.
• Visa said it has the potential to grow as people, companies and governments change from paper-based to electronic payment. Global card purchase transactions are set to grow 11% a year from 2006 to 2012, with particularly strong growth in Asia, Latin America, the Middle East and Africa.

All the same reasons I outlined to favor Mastercard [Rebuilding Mastercard], apply to VISA.

Long Mastercard in fund; no personal position