I liked PAX Global Technology (OTC:PXGYF) back in January, but I'm not going to pretend that I saw an 80% gain (for the Hong Kong shares) in the subsequent seven months as the expected outcome. Management has ramped up its distribution capabilities faster than I expected and is continuing to make the most of strong growth in the adoption of credit and debit cards in China and other emerging markets. With a significant focus on internal R&D and a stated goal of buying its way further into payment services and software, I believe investors can expect a long run of double digit free cash flow and good long-term stock performance.
Readers should note that buying these shares...
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