Staying within the Berkshire-blessed set, even BofA isn't looking too bad.

Amex looks very attractive too and a much better managed company than BAC.

They reported what seemed like a very good Q3 earnings, but then fell over 5%. Even though they beat expectations overall, some apparently reacted negatively to greater than expected reserve build up for credit losses.

The 2023 guidance is for EPS of $11 - $11.40 with revenue growth of 15 - 17%. For 2024, they are aiming for mid-teens EPS and at least 10% revenue growth. At $141, they are trading at under 11 times expected 2024 earnings. The 5 year average FWD PE is 18.5. And this in spite of excellent revenue and EPS growth.

BRK owns 20% of AMEX, and due to regulations regarding ownership of banks, may not be increasing its stake. Buffett didn't add in 2008 either, choosing instead to rescue GS and BAC. I wonder if he would have bought more, even the whole company, if regulations weren't a factor. The 80% of Amex BRK doesn't own now has a market cap of $90 billion.

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