I own a small WMT position.

If you’d asked me even a year ago, I would have said WMT is a mature company whose management no longer had the entrepreneurial spirit of the company’s founders and whose latter-generation family owners were content to clip coupons rather than take the risks inherent in seeking superior earnings growth.

But then I noticed that, startling to me, I could find camera equipment online from Walmart that was cheaper than anyplace else. Then I read that the company was acquiring Visio, to create, I think, its own competitor to Roku. I also noticed that as the economy improved, customers who had migrated down market from Target (I own TGT, as well) to WMT were not moving back as fast as they usually do. So I decided to buy the stock.

I read today that WMT was successful in separating itself from credit card provider Capital One. This allows it to issue a credit card through Discover, which WMT bought in February.

Who knows what will happen from here. But the credit card move is more evidence that the Walton family no longer content to go the way of, say, the domestic auto companies or IBM–bureaucrats who look good in a suit rather than entrepreneurs.