NU fintech, and Buffett owns some

TMF writer, June 9, 2022, recommends investors take a look at Nu.

https://www.fool.com/investing/2022/06/09/why-should-follow-…

Nu is a new kind of bank (perhaps better described as a fintech), and it’s taking South America by storm.

WEB put $1B in the Nu pot.
Online, no brick and mortar locations.

It apparently IPO’d Dec2021 at $10, rocketed to $11.88 for its postIPO runup … then down down … to close at $3.94 today.
https://finance.yahoo.com/quote/nu/

No earnings, no P/E. No value metrics?

It’s taking South America by storm.

[Buffett bought BYD, too. I own some BYD, and was influenced by Buffett’s ownership.
BYD is being good to me, in this time of sorrow.]

:alien:
ralph

You credit Brazilian digital bank Nu Bank investment to Buffett, but I suspect it is a Todd Coombs pick.

BRK also invested in Indian fintech Paytm, and Todd is on the BOD.

Fintech unicorns seem to be Todd’s area of expertise. Buffett usually eschews unprofitable startups and prefers mega banks like BAC.

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Seems like Ted and Todd could be a little like late stage VCs with these unicorn investments. Could be a good opportunity for Berkshire, especially now that VC money seems to be drying up?

Article on late stage VC money drying up:

https://techcrunch.com/2022/04/08/just-how-much-has-late-sta…

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Buffett didn’t buy NU… I suspect that was TED…