What Makes American Express Company (AXP) an Attractive Bet?

Giverny Capital Asset Management, LLC, an investment management company, recently published its first-quarter 2026 investor letter. A copy can be downloaded here. The model portfolio fell 6. 88% this quarter, compared to the S&P 500’s 4. 33% decline. Over the past year, the portfolio gained 8.

52%, while the index increased by 17. 80%.