With half of its business devoted to retail customers and the other half aimed at businesses, Anderson likes the outlook for the company. As Internet usage increases, we're all becoming more aware of the damage that viruses can cause to computers, and there's a resultant growth in computer security software that tails along with the growth of the Internet. Anderson searches for growth at a reasonable price, and thinks Symantec fits the bill. They don't want the economy to slide into a recession, and they're doing everything in their power to avoid that. MBNA is one of the largest credit card issuers in the United States, and is looking to grow its business in Canada and the United Kingdom as well.
Credit cards is all they do.
That gives them a competitive advantage over banks, he says, which have to focus management attention on other product lines as well. MBNA has especially had success marketing affinity cards, says Anderson. The cards allow a group or organization to put a logo on the credit card and collect a small percentage of sales. These individuals tend to be above-average earners and they pay their bills. Anyone who's ever mopped a floor or taken out the garbage will be familiar with this company, which sells home and office products under a variety of brand names.