Buffet backed Nubank (NU) has been on an absolute tear since the beginning of the year up nearly 40%.
Within fintech, you hear a lot of buzz about SoFi and maybe a couple other smaller players, but NU seems to fly under the radar of most investors. Importantly, they are:
- Within earshot of their IPO price
- Had fantastic Q4 earnings and guidance
- In rapidly growing, underbanked markets (they registered 1 million new accounts in Mexico in a single month)
The future of LATAM is bright, with several developing economies, especially Brazil. Hell, Mexico is now our biggest trading partner and likely will continue to be with onshoring/near-shoring becoming the prevailing political winds.
Point is, these markets are going to continue to develop and consumers will require access to modern checking and savings accounts.
