How is it after a decade of US consumer shopping using debt helps build revenue millions, and just when the US consumer is tapped out and changes it consumer behavior to a savings sentiment, the IPO for Mastercard and Visa hit in 2006 and 2008 respectively. How prudent for shareholders.

Visa trades at a 49 P/E. Why? Tapped out developed economy consumers paying down debt, how will they be spending on Visa? Just look at the debt as a %GDP for these developed economies. If global banks are shutting off credit lines to minimize losses in a deepening recession, it’s only a matter of time til everyone else figures that one out.

Yes.

Numerous such examples in the markets:

1n 1990s, every dot.com flying
In 2005, every company attached with oil sand flying…
In 2006, every company attached with uranium flying…
In late 2007 to the first half of 2008, every company attached with shale gas/potash/coal flying…

It seems when some small companies change their names to the hot ones (dot.com, oil sand, uranium, potash, coal), it is normally a warning signal of sector topping.

All the best.

Peter