Yeah, it was not the best year, but is still a super solid company with a good moat and solid fundamentals. I wrote about it here ICYMI: https://linas.substack.com/p/fintechpulse954
Thanks for reading! Nope, it wasn't a good year for Coinbase performance-wise, yet I'm bullish on them long-term regardless. I'd recommend you check this one out: https://linas.substack.com/p/fintechpulse1025
Solid breakdown of the maturation arc. Dave's CashAI pivot away form traditional overdraft models is especially interesting because it shows profitability doesnt have to come from squeezing consumers harder. Back when I was banking retail, overdraft fees were basically a hidden tax on low-balance customers. The fact they're scaling EBITDA 236% while actualy lowering delinquencies is kinda the opposite of what legacy banks do.
Thanks for this one, perfect read for Friday morning. Haven't seen Adyen here, seems like a good holding too imho...
Yeah, it was not the best year, but is still a super solid company with a good moat and solid fundamentals. I wrote about it here ICYMI: https://linas.substack.com/p/fintechpulse954
Cool, thx
Nice write up - thank you! There's no Coinbase here? 🤔
Thanks for reading! Nope, it wasn't a good year for Coinbase performance-wise, yet I'm bullish on them long-term regardless. I'd recommend you check this one out: https://linas.substack.com/p/fintechpulse1025
Makes sense, thanks
Or you could choose Newtek for profitability?
- 5.12x P/E
- 17% revenue CAGR
- Funding mix shifting to deposits away from private capital, so has a faster margin expansion
- counter-cyclical growth
Would love to hear your thoughts
Interesting. Don't have any take on them as of yet, but perhaps it's worth taking a look. :)
No worries, may be biased as my largest holding currently but if you have any questions and/or counter points please let me know (thank you!)
Dave is a big position for me. Thanks for the write up. The EPS estimate of 1 USD for 2026 seems wrong? Its much higher already now
Solid breakdown of the maturation arc. Dave's CashAI pivot away form traditional overdraft models is especially interesting because it shows profitability doesnt have to come from squeezing consumers harder. Back when I was banking retail, overdraft fees were basically a hidden tax on low-balance customers. The fact they're scaling EBITDA 236% while actualy lowering delinquencies is kinda the opposite of what legacy banks do.
Indeed! Are you a shareholder of $DAVE too?