Who's going to be buying Visa tomorrow????

[EvilEric]

So how many people are going to be trying to buy shares in Visa tomorrow???

[S.F.W.]

not I. At ~40 US per share, the amount required to invest, versus the return doesn't interest me. Also, hope you have serious connections, getting IPO stock is very difficult.

[SilentJay]

Is the IPO supposed to start at ~$40? I thought it was supposed to start at around $30. Anyway, if I had money, i'd probably get in on this, but with a supposed retail share of around 5% for the Can. market, like SFW said, hope you have connections!

[S.F.W.]

from what I've been told opening price range will be $37-$43.

[EvilEric]

By the time regular people get in...it will probably 60-70+

[S.F.W.]

By the time regular people get in...it will probably 60-70+

aka overvalued.

[3GFX]

Exactly, all the banks carrying Visa will be buying in first, then we get whats left over

I sure as hell can't afford it right now or else I'd dive in head first.


EDIT:

Upon further review I think I'm going to try and buy in. I don't have a lot of excess cash but I'm going to try and buy a small lot of shares. Analysists are saying that its practically impossible for anyone to buy in, but at the same time the market today did so bad that we just might have a chance. I've set a limit on how much I want to spend (not much) and I'll be up for the market opening to try and buy in.

[icecubetray]

all that being said, I thought Google was expensive at $70/share or what ever it IPO'ed at.

I'm glad I didn't buy any..........it went to $500

What did Tim Hortons IPO at.....sheesh glad I didn't buy that one.....whats it at 40?

I did buy shoppers shortly after the ipo at around 18.....and made 30% on that one.....

[SilentJay]

Well, everyone is pointing to the MasterCard IPO a few years back. Initial IPO at around $45, and was sitting at around $215 not too long ago?

I *might* get in on a few shares just for s-and-giggles. What brokerage do you guys use?

[3GFX]

So I talked to my TD Waterhouse broker this morning and he said they are pricing it today. He said it to be released to be bought sometime within the next week.

It seems that tomorrow is the official opening day.

I'm going to buy an incredible small lot depending on the price. I think that it will be a long term stock worth holding onto. With the market the way it is and a recession on the way, within a handful of years this stock could turn quite large just as Mastercard. Keep in mind Visa is a larger company than MC as well.

My concern right now is if I should buy in Canadian or US Funds. Obviously with the US dollar low right now I've got dollar risk involved. But if it picks up again I may be able to squeeze the percentage differance on exchange as well.

I'd like to point out that if I do get in, this will be the first stock I officially own. I've followed the market and some particular shares for a handful of years, but never bought it. I'm looking to pop my cherry with Visa.

[Jeff-TheBiz]

MasterCard only.... FTW

[EvilEric]

MasterCard only.... FTW

Have to agree, I barely use my visa. There are too many promotions that are strickly MC

[SilentJay]

So I talked to my TD Waterhouse broker this morning and he said they are pricing it today. He said it to be released to be bought sometime within the next week.

I'd like to point out that if I do get in, this will be the first stock I officially own. I've followed the market and some particular shares for a handful of years, but never bought it. I'm looking to pop my cherry with Visa.

You have a broker but you haven't purchased any stocks before? I have been a long-time follower but have never purchased any either - but would like to. Have been looking at e-trade, but haven't acted yet.

Have to agree, I barely use my visa. There are too many promotions that are strickly MC

I agree that in the domestic market, there are a lot of MC-based programs, especially that new "paypass". On a world-wide scale however, Visa is still used in larger volumes -- though its interesting to see what, if anything, they'll do to counteract the instant payment fad.

With the market the way it is and a recession on the way, within a handful of years this stock could turn quite large just as Mastercard. Keep in mind Visa is a larger company than MC as well.

This is exactly how I saw the situation as well. A downturn in the economy would probably drive people to use credit moreso than cash, racking up debt. That in mind, there will also come an increased amount of people defaulting on these mini-personal loans. Which company, of the credit card giants, would be able to absorb more bad debt write-offs? Usually the better funded ones if they keep their hands clean of scandals...

[3GFX]

Well its waterhouse, so they've got universal brokers. I've set up an investing account for a while now, just haven't taken the dive yet.

[Wild Weasel]

I just wish I had money to invest right now. With all the diving the markets have been doing, I see it as a huge buying opportunity!

Visa seems like a no-brainer. Just with I had some cash.

[chinsterr]

My dad picked up some shares of it through his broker. Apparently there were very strict restrictions due to the small allotment each company was given --- something like must have completed at least 36 trades within the past year and have a balance of 300K in the account. I think RBC is the only one in canada carrying it at the IPO price.

I think its a risky play if your going to get it at market open especially given the current market conditions. The price will probably be around 60-70 and might close a bit lower considering the number of people that got in around 44 might be looking for a quick profit(which is the price it IPO'ed at). I mean sure , hindsight is 20/20 and of course names like google come to mind. Just don't buy into hype.

You can't compare V with MA. Yes they are in the same business but you have to look at when MA IPO'ed....during growth. Right now there is all this talk of recession / credit crunch / sky is falling / blah blah blah. Visa may not grow as quick as MA did.

Visa is looking like a knight in shining armour right now to A LOT of people. Just don't get caught in buying into a short term rally. They come down as quick as they go up (if not faster), take VMWare for example. IPO at 40 .. hit 52 week high of 129 .. now back around 60 .

This is exactly how I saw the situation as well. A downturn in the economy would probably drive people to use credit moreso than cash, racking up debt. That in mind, there will also come an increased amount of people defaulting on these mini-personal loans. Which company, of the credit card giants, would be able to absorb more bad debt write-offs? Usually the better funded ones if they keep their hands clean of scandals...

Visa makes money off of transactions. They are in no way linked to the write offs.

Well its waterhouse, so they've got universal brokers. I've set up an investing account for a while now, just haven't taken the dive yet.

TD waterhouse has insane fees per transaction, i believe its $19.99+ per trade.

I use questrade.com, its a canadian company and got ranked as one of the best online brokers in canada by the globe and mail.

For me , its $4.95 per trade (for trades under $10000 or 1000shares).

Just for kicks , what stocks do you guys hold in your portfolio?

I have Apple, RIM, and E-trade financial.

[3GFX]

Actually I'm expecting to incur some larger fees than that (roughly $60) because I can only afford a small lot. We'll see, I'm still gonna try and get in.

I wish I had RIM, and I'd invest in Manulife for the long run.

[chinsterr]

Actually I'm expecting to incur some larger fees than that (roughly $60) because I can only afford a small lot. We'll see, I'm still gonna try and get in.

I wish I had RIM, and I'd invest in Manulife for the long run.

Rim is a good company with strong fundamentals, not to mention they are breaching a lot of emerging markets (india and china for example). There is still a lot more room to grow for RIM.

Etrade (ETFC) is going to be a big turn around stock, IMO. I think it will be around 6-8 by the end of the year.

Man, stop talking about visa !! LOL It makes me want to buy in too. 3GFX if you can place a limit order , i would suggest doing so. Visa (V) is going to fly as soon as the market opens.

I think i might put in a order at around 65$ MAX. Hopefully it gets filled at around $55.

[3GFX]

So I'm sitting here with the ask at $250. Man would I like to meet the guy asking that much. I'm constantly refreshing. My max bid is $60 per share, I would maybe squeeze for 63. Problem is this thing ain't budgin.

[EvilEric]

So I'm sitting here with the ask at $250. Man would I like to meet the guy asking that much. I'm constantly refreshing. My max bid is $60 per share, I would maybe squeeze for 63. Problem is this thing ain't budgin.

It's showing up as trading around 60-65 this morning on Yahoo Finance, you should have gotten your order filled already??

[3GFX]

TD Waterhouse keeps declining my bids, I went at market price and still got declined. I'm thinking its because I'm buying such a tiny lot. I'm on hold with Waterhouse right now.


EDIT:

Just got in at $55.50.

[S.F.W.]

TD Waterhouse keeps declining my bids, I went at market price and still got declined. I'm thinking its because I'm buying such a tiny lot. I'm on hold with Waterhouse right now.


EDIT:

Just got in at $55.50.

Against my better judgment, I went in at $51.25. Helps to have a friend who works in world markets.

[3GFX]

Wow 51? That'll do, I was refreshing every second and the lowest waterhouse was showing was 55 flat.

[S.F.W.]

Wow 51? That'll do, I was refreshing every second and the lowest waterhouse was showing was 55 flat.

I have a good friend who works for CIBC world markets. He was able to get me in with some client orders.

[3GFX]

Very nice...realtime is looking like $59 right now. So you're laughing buddy.

I need $61.50 to break even