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2021-12-21

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SoFi And Its Bulls Might Just Be Standing On The Cusp Of Something Big<blockquote>SoFi及其多头可能正站在大事的风口浪尖</blockquote>

Summary The risk clouding one of SoFi's main catalysts for next year seems to have been removed. 20

SoFi And Its Bulls Might Just Be Standing On The Cusp Of Something Big<blockquote>SoFi及其多头可能正站在大事的风口浪尖</blockquote>

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{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":693424426,"tweetId":"693424426","gmtCreate":1640067361553,"gmtModify":1640067413747,"author":{"id":3557823792637532,"idStr":"3557823792637532","authorId":3557823792637532,"authorIdStr":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":42,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>good</body></html>","htmlText":"<html><head></head><body>good</body></html>","text":"good","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/693424426","repostId":1108709960,"repostType":4,"repost":{"id":"1108709960","kind":"news","pubTimestamp":1640065956,"share":"https://www.laohu8.com/m/news/1108709960?lang=zh_CN&edition=full","pubTime":"2021-12-21 13:52","market":"us","language":"en","title":"SoFi And Its Bulls Might Just Be Standing On The Cusp Of Something Big<blockquote>SoFi及其多头可能正站在大事的风口浪尖</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1108709960","media":"Seeking Alpha","summary":"Summary\n\nThe risk clouding one of SoFi's main catalysts for next year seems to have been removed.\n20","content":"Summary<blockquote>总结</blockquote> <ul> <li>The risk clouding one of SoFi's main catalysts for next year seems to have been removed.</li> <li>2022 stands to be a big year as the convergence of several factors stands to see underlying competitiveness and profitability improve.</li> <li>If SoFi's plans come to fruition, the value creation in the years ahead will be significant.</li> </ul> <img src=\"https://static.tigerbbs.com/95b4a7a135703546a6ddfa3c8d7629dd\" tg-width=\"1536\" tg-height=\"924\" width=\"100%\" height=\"auto\">PM Images/DigitalVision via Getty Images<blockquote><ul><li>SoFi明年主要催化剂之一的风险似乎已经消除。</li><li>2022年将是重要的一年，因为多种因素的融合将导致潜在竞争力和盈利能力的提高。</li><li>如果SoFi的计划得以实现，未来几年的价值创造将是巨大的。</li></ul>PM Images/DigitalVision来自Getty Images</blockquote> SoFi's (SOFI) bulls know they have two major catalysts to look forward to next year; the banking charter and the end of the student loan moratorium. The latter saw a pause on federal student loan payments and temporarily set the loan interest rate to 0%. In my&nbsp;last SoFi article, I flagged the potential extension of this as a salient risk shareholders need to be aware of. Not anymore. The White House has now categorically&nbsp;ruled out an extension&nbsp;and confirmed that repayments will begin from the start of February. Albeit with some comments on a \"smooth transition\" to repayments which will likely soften revenue recognition in the initial months.<blockquote>SoFi(SOFI)的多头知道明年他们有两个主要催化剂值得期待；银行章程和学生贷款暂停期的结束。后者暂停了联邦学生贷款支付，并暂时将贷款利率设定为0%。在我的上一篇SoFi文章中，我将这种情况的潜在扩展标记为股东需要注意的一个突出风险。不再是了。白宫现在已经明确排除了延期的可能性，并确认还款将从2月初开始。尽管有人评论“平稳过渡”到还款，这可能会削弱最初几个月的收入确认。</blockquote> SoFi was founded in 2011 by four Stanford Graduate School of Business students who wanted to provide a more affordable option to classmates taking on expensive debt to fund their education. Hence, student loan refinancing remains a significant part of the overall revenue mix even as the company's business operations have since been developed to include other types of lending, financial services, and Galileo.<blockquote>SoFi于2011年由斯坦福大学商学院的四名学生创立，他们希望为背负昂贵债务来资助教育的同学提供更实惠的选择。因此，学生贷款再融资仍然是整体收入组合的重要组成部分，尽管该公司的业务运营已发展到包括其他类型的贷款、金融服务和伽利略。</blockquote> <img src=\"https://static.tigerbbs.com/60e52914b88f26796aa31722c0dd785b\" tg-width=\"640\" tg-height=\"435\" width=\"100%\" height=\"auto\">SoFi Student Loan Refinancing Offer<blockquote>SoFi学生贷款再融资优惠</blockquote> The impact of the extension of the moratorium on fiscal 2021 revenue was pronounced. This saw the company forfeit $52 million in SLR volume on the back of the&nbsp;CARES Act extension. This business was doing over $2 billion of student loan volume a quarter before the pandemic hit. The student loan business has been at less than 50% as lenders took on a more laid back approach to paying back their student loans since the initial moratorium was enacted via an executive order in March 2020.<blockquote>延期延期对2021财年收入的影响是显而易见的。由于CARES Act延期，该公司损失了5200万美元的SLR销量。在疫情爆发前的一个季度，该公司的学生贷款额超过20亿美元。自2020年3月通过行政命令颁布最初的暂停令以来，贷款机构采取了更加悠闲的方式来偿还学生贷款，学生贷款业务的比例一直低于50%。</blockquote> Hence, and for the first time in almost two years, SoFi should have a significant tailwind in 2022 with SLR volumes picking up to aggregate with momentum in personal loan volume and its more competitive home loan product. The company expects its lending business to grow by about 25% annually over the next five fiscal years until 2026. Financial services is also expected to realize growth of about 150% annually until 2026 with Galileo seeing a 50% annual growth over the same time period.<blockquote>因此，SoFi在2022年应该会出现近两年来的首次重大顺风车，SLR交易量将随着个人贷款量及其更具竞争力的住房贷款产品的势头而回升。该公司预计，截至2026年的未来五个财年，其贷款业务每年将增长约25%。到2026年，金融服务预计也将实现约150%的年增长率，伽利略预计同期年增长率为50%。</blockquote> The bank charter is the next phase of SoFi's growth as it would have a material effect on every facet of SoFi's businesses from SoFi Money and all their lending lines. Why?<blockquote>银行章程是SoFi发展的下一阶段，因为它将对SoFi业务的各个方面（包括SoFi Money及其所有贷款额度）产生重大影响。为什么？</blockquote> It's The Margins, Stupid<blockquote>是利润，笨蛋</blockquote> At the core, owning a bank charter would allow SoFi to use their deposits, primarily from SoFi Money, to fund their own loans. Only banks are allowed to take FDIC-insured deposits from the public and have access to deposits as a source of funding. This would see the company replace its current comparatively costly financing agreements in place with a patchwork of third-party institutions. Operating as a chartered bank would provide access to the payments system operated by the Federal Reserve and access to wholesale funding such as the Federal Reserve discount window, Federal Home Loan Bank advances, and the federal funds market.<blockquote>核心是，拥有银行执照将允许SoFi使用他们的存款（主要来自SoFi Money）来为自己的贷款提供资金。只有银行被允许从公众那里接受FDIC保险的存款，并有权获得存款作为资金来源。这将使该公司用第三方机构的拼凑取代目前成本相对较高的融资协议。作为特许银行运营将提供对美联储运营的支付系统的访问，以及对批发融资的访问，如美联储贴现窗口、联邦住房贷款银行预付款和联邦基金市场。</blockquote> Further, in some jurisdictions, corporate entities permitted to act as a trustee is sometimes limited to just banks and trust companies. Essentially, SoFi's customer deposits will be used as a reservoir of funds that can then be drawn on to make loans. This will have a double pronged effect of allowing SoFi to offer more competitive loan rates whilst reducing their cost of capital. It would reverberate across the company's one-stop platform model by simultaneously making all their services more competitive. This would help to extend the current multi-product platform moat and contribute heavily to the bullish story. The recent weakness in the company's stock price now means this salient catalyst is not at all priced in. The impact over the next five years on underlying revenue growth and profitability will be significant. It would help drive the company's 5-year plan to reach at least 10 million members as it builds out its value add for its core demographic of US households with annual income of $100,000 or more.<blockquote>此外，在一些司法管辖区，获准担任受托人的公司实体有时仅限于银行和信托公司。从本质上讲，SoFi的客户存款将被用作资金储备，然后可以提取用于发放贷款。这将产生双重影响，使SoFi能够提供更具竞争力的贷款利率，同时降低资本成本。这将通过同时提高所有服务的竞争力来影响公司的一站式平台模式。这将有助于扩展当前的多产品平台护城河，并为看涨故事做出重大贡献。该公司股价最近的疲软意味着这一重要催化剂根本没有被定价。未来五年对基本收入增长和盈利能力的影响将是巨大的。这将有助于推动该公司的五年计划，使其拥有至少1000万会员，因为它为年收入10万美元或以上的美国家庭核心人群增加了附加值。</blockquote> From being the sole retail distributor of the Rivian IPO and the pending banking charter, SoFi is taking the steps necessary to differentiate itself and build out a moat to dominate the expected decade-long growth of digital financial products. The company has also raised a further&nbsp;$95 million&nbsp;from the cash redemption of its outstanding warrants, simplifying its share structure.<blockquote>作为Rivian IPO和即将获得的银行牌照的唯一零售分销商，SoFi正在采取必要措施使自己脱颖而出，并建立护城河，以主导数字金融产品预期的十年增长。该公司还通过现金赎回其未偿认股权证进一步筹集了9500万美元，简化了其股份结构。</blockquote> What Makes A Great Company And A Good Investment?<blockquote>什么造就了一家伟大的公司和一项好的投资？</blockquote> Companies with a pertinent ability to grow their revenues while proportionally increasing profits have always performed well. It's positive to see SoFi taking the steps to secure long-term revenue growth runway and underlying profitability. It's two catalysts are salient as they would place SoFi on a path to compete even better in the fields it currently operates in. Hence, with just 9 trading days left of this year left, the end of year-tax loss selling short sell trade looks set to finally taper out.J.P. Morgan's Kolanovic notes&nbsp;that the selloff is likely due for a reversal.<blockquote>有能力在按比例增加利润的同时增加收入的公司总是表现良好。看到SoFi采取措施确保长期收入增长跑道和基本盈利能力是积极的。这两个催化剂非常重要，因为它们将使SoFi在其目前运营的领域走上更好竞争的道路。因此，今年只剩下9个交易日了，年终税收损失卖空交易看起来最终将逐渐减少。摩根的科拉诺维奇指出，抛售可能会出现逆转。</blockquote> Bulls should not be complacent though as the broader economy could weaken if high inflation remains persistent and rising interest rates dampens consumer demand materially. I remain long and continue to buy on this weakness.<blockquote>不过，多头不应自满，因为如果高通胀持续存在且利率上升大幅抑制消费者需求，整体经济可能会疲软。我保持多头，并在这个弱点上继续买入。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SoFi And Its Bulls Might Just Be Standing On The Cusp Of Something Big<blockquote>SoFi及其多头可能正站在大事的风口浪尖</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoFi And Its Bulls Might Just Be Standing On The Cusp Of Something Big<blockquote>SoFi及其多头可能正站在大事的风口浪尖</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nSeeking Alpha2021-12-21 13:52\n\n</h4>\n</header>\n<article>\nSummary<blockquote>总结</blockquote> <ul> <li>The risk clouding one of SoFi's main catalysts for next year seems to have been removed.</li> <li>2022 stands to be a big year as the convergence of several factors stands to see underlying competitiveness and profitability improve.</li> <li>If SoFi's plans come to fruition, the value creation in the years ahead will be significant.</li> </ul> <img src=\"https://static.tigerbbs.com/95b4a7a135703546a6ddfa3c8d7629dd\" tg-width=\"1536\" tg-height=\"924\" width=\"100%\" height=\"auto\">PM Images/DigitalVision via Getty Images<blockquote><ul><li>SoFi明年主要催化剂之一的风险似乎已经消除。</li><li>2022年将是重要的一年，因为多种因素的融合将导致潜在竞争力和盈利能力的提高。</li><li>如果SoFi的计划得以实现，未来几年的价值创造将是巨大的。</li></ul>PM Images/DigitalVision来自Getty Images</blockquote> SoFi's (SOFI) bulls know they have two major catalysts to look forward to next year; the banking charter and the end of the student loan moratorium. The latter saw a pause on federal student loan payments and temporarily set the loan interest rate to 0%. In my&nbsp;last SoFi article, I flagged the potential extension of this as a salient risk shareholders need to be aware of. Not anymore. The White House has now categorically&nbsp;ruled out an extension&nbsp;and confirmed that repayments will begin from the start of February. Albeit with some comments on a \"smooth transition\" to repayments which will likely soften revenue recognition in the initial months.<blockquote>SoFi(SOFI)的多头知道明年他们有两个主要催化剂值得期待；银行章程和学生贷款暂停期的结束。后者暂停了联邦学生贷款支付，并暂时将贷款利率设定为0%。在我的上一篇SoFi文章中，我将这种情况的潜在扩展标记为股东需要注意的一个突出风险。不再是了。白宫现在已经明确排除了延期的可能性，并确认还款将从2月初开始。尽管有人评论“平稳过渡”到还款，这可能会削弱最初几个月的收入确认。</blockquote> SoFi was founded in 2011 by four Stanford Graduate School of Business students who wanted to provide a more affordable option to classmates taking on expensive debt to fund their education. Hence, student loan refinancing remains a significant part of the overall revenue mix even as the company's business operations have since been developed to include other types of lending, financial services, and Galileo.<blockquote>SoFi于2011年由斯坦福大学商学院的四名学生创立，他们希望为背负昂贵债务来资助教育的同学提供更实惠的选择。因此，学生贷款再融资仍然是整体收入组合的重要组成部分，尽管该公司的业务运营已发展到包括其他类型的贷款、金融服务和伽利略。</blockquote> <img src=\"https://static.tigerbbs.com/60e52914b88f26796aa31722c0dd785b\" tg-width=\"640\" tg-height=\"435\" width=\"100%\" height=\"auto\">SoFi Student Loan Refinancing Offer<blockquote>SoFi学生贷款再融资优惠</blockquote> The impact of the extension of the moratorium on fiscal 2021 revenue was pronounced. This saw the company forfeit $52 million in SLR volume on the back of the&nbsp;CARES Act extension. This business was doing over $2 billion of student loan volume a quarter before the pandemic hit. The student loan business has been at less than 50% as lenders took on a more laid back approach to paying back their student loans since the initial moratorium was enacted via an executive order in March 2020.<blockquote>延期延期对2021财年收入的影响是显而易见的。由于CARES Act延期，该公司损失了5200万美元的SLR销量。在疫情爆发前的一个季度，该公司的学生贷款额超过20亿美元。自2020年3月通过行政命令颁布最初的暂停令以来，贷款机构采取了更加悠闲的方式来偿还学生贷款，学生贷款业务的比例一直低于50%。</blockquote> Hence, and for the first time in almost two years, SoFi should have a significant tailwind in 2022 with SLR volumes picking up to aggregate with momentum in personal loan volume and its more competitive home loan product. The company expects its lending business to grow by about 25% annually over the next five fiscal years until 2026. Financial services is also expected to realize growth of about 150% annually until 2026 with Galileo seeing a 50% annual growth over the same time period.<blockquote>因此，SoFi在2022年应该会出现近两年来的首次重大顺风车，SLR交易量将随着个人贷款量及其更具竞争力的住房贷款产品的势头而回升。该公司预计，截至2026年的未来五个财年，其贷款业务每年将增长约25%。到2026年，金融服务预计也将实现约150%的年增长率，伽利略预计同期年增长率为50%。</blockquote> The bank charter is the next phase of SoFi's growth as it would have a material effect on every facet of SoFi's businesses from SoFi Money and all their lending lines. Why?<blockquote>银行章程是SoFi发展的下一阶段，因为它将对SoFi业务的各个方面（包括SoFi Money及其所有贷款额度）产生重大影响。为什么？</blockquote> It's The Margins, Stupid<blockquote>是利润，笨蛋</blockquote> At the core, owning a bank charter would allow SoFi to use their deposits, primarily from SoFi Money, to fund their own loans. Only banks are allowed to take FDIC-insured deposits from the public and have access to deposits as a source of funding. This would see the company replace its current comparatively costly financing agreements in place with a patchwork of third-party institutions. Operating as a chartered bank would provide access to the payments system operated by the Federal Reserve and access to wholesale funding such as the Federal Reserve discount window, Federal Home Loan Bank advances, and the federal funds market.<blockquote>核心是，拥有银行执照将允许SoFi使用他们的存款（主要来自SoFi Money）来为自己的贷款提供资金。只有银行被允许从公众那里接受FDIC保险的存款，并有权获得存款作为资金来源。这将使该公司用第三方机构的拼凑取代目前成本相对较高的融资协议。作为特许银行运营将提供对美联储运营的支付系统的访问，以及对批发融资的访问，如美联储贴现窗口、联邦住房贷款银行预付款和联邦基金市场。</blockquote> Further, in some jurisdictions, corporate entities permitted to act as a trustee is sometimes limited to just banks and trust companies. Essentially, SoFi's customer deposits will be used as a reservoir of funds that can then be drawn on to make loans. This will have a double pronged effect of allowing SoFi to offer more competitive loan rates whilst reducing their cost of capital. It would reverberate across the company's one-stop platform model by simultaneously making all their services more competitive. This would help to extend the current multi-product platform moat and contribute heavily to the bullish story. The recent weakness in the company's stock price now means this salient catalyst is not at all priced in. The impact over the next five years on underlying revenue growth and profitability will be significant. It would help drive the company's 5-year plan to reach at least 10 million members as it builds out its value add for its core demographic of US households with annual income of $100,000 or more.<blockquote>此外，在一些司法管辖区，获准担任受托人的公司实体有时仅限于银行和信托公司。从本质上讲，SoFi的客户存款将被用作资金储备，然后可以提取用于发放贷款。这将产生双重影响，使SoFi能够提供更具竞争力的贷款利率，同时降低资本成本。这将通过同时提高所有服务的竞争力来影响公司的一站式平台模式。这将有助于扩展当前的多产品平台护城河，并为看涨故事做出重大贡献。该公司股价最近的疲软意味着这一重要催化剂根本没有被定价。未来五年对基本收入增长和盈利能力的影响将是巨大的。这将有助于推动该公司的五年计划，使其拥有至少1000万会员，因为它为年收入10万美元或以上的美国家庭核心人群增加了附加值。</blockquote> From being the sole retail distributor of the Rivian IPO and the pending banking charter, SoFi is taking the steps necessary to differentiate itself and build out a moat to dominate the expected decade-long growth of digital financial products. The company has also raised a further&nbsp;$95 million&nbsp;from the cash redemption of its outstanding warrants, simplifying its share structure.<blockquote>作为Rivian IPO和即将获得的银行牌照的唯一零售分销商，SoFi正在采取必要措施使自己脱颖而出，并建立护城河，以主导数字金融产品预期的十年增长。该公司还通过现金赎回其未偿认股权证进一步筹集了9500万美元，简化了其股份结构。</blockquote> What Makes A Great Company And A Good Investment?<blockquote>什么造就了一家伟大的公司和一项好的投资？</blockquote> Companies with a pertinent ability to grow their revenues while proportionally increasing profits have always performed well. It's positive to see SoFi taking the steps to secure long-term revenue growth runway and underlying profitability. It's two catalysts are salient as they would place SoFi on a path to compete even better in the fields it currently operates in. Hence, with just 9 trading days left of this year left, the end of year-tax loss selling short sell trade looks set to finally taper out.J.P. Morgan's Kolanovic notes&nbsp;that the selloff is likely due for a reversal.<blockquote>有能力在按比例增加利润的同时增加收入的公司总是表现良好。看到SoFi采取措施确保长期收入增长跑道和基本盈利能力是积极的。这两个催化剂非常重要，因为它们将使SoFi在其目前运营的领域走上更好竞争的道路。因此，今年只剩下9个交易日了，年终税收损失卖空交易看起来最终将逐渐减少。摩根的科拉诺维奇指出，抛售可能会出现逆转。</blockquote> Bulls should not be complacent though as the broader economy could weaken if high inflation remains persistent and rising interest rates dampens consumer demand materially. I remain long and continue to buy on this weakness.<blockquote>不过，多头不应自满，因为如果高通胀持续存在且利率上升大幅抑制消费者需求，整体经济可能会疲软。我保持多头，并在这个弱点上继续买入。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://seekingalpha.com/article/4476032-sofi-bulls-on-cusp-of-something-big\">Seeking Alpha</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOFI":"SoFi Technologies Inc."},"source_url":"https://seekingalpha.com/article/4476032-sofi-bulls-on-cusp-of-something-big","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108709960","content_text":"Summary\n\nThe risk clouding one of SoFi's main catalysts for next year seems to have been removed.\n2022 stands to be a big year as the convergence of several factors stands to see underlying competitiveness and profitability improve.\nIf SoFi's plans come to fruition, the value creation in the years ahead will be significant.\n\nPM Images/DigitalVision via Getty Images\nSoFi's (SOFI) bulls know they have two major catalysts to look forward to next year; the banking charter and the end of the student loan moratorium. The latter saw a pause on federal student loan payments and temporarily set the loan interest rate to 0%. In my last SoFi article, I flagged the potential extension of this as a salient risk shareholders need to be aware of. Not anymore. The White House has now categorically ruled out an extension and confirmed that repayments will begin from the start of February. Albeit with some comments on a \"smooth transition\" to repayments which will likely soften revenue recognition in the initial months.\nSoFi was founded in 2011 by four Stanford Graduate School of Business students who wanted to provide a more affordable option to classmates taking on expensive debt to fund their education. Hence, student loan refinancing remains a significant part of the overall revenue mix even as the company's business operations have since been developed to include other types of lending, financial services, and Galileo.\nSoFi Student Loan Refinancing Offer\nThe impact of the extension of the moratorium on fiscal 2021 revenue was pronounced. This saw the company forfeit $52 million in SLR volume on the back of the CARES Act extension. This business was doing over $2 billion of student loan volume a quarter before the pandemic hit. The student loan business has been at less than 50% as lenders took on a more laid back approach to paying back their student loans since the initial moratorium was enacted via an executive order in March 2020.\nHence, and for the first time in almost two years, SoFi should have a significant tailwind in 2022 with SLR volumes picking up to aggregate with momentum in personal loan volume and its more competitive home loan product. The company expects its lending business to grow by about 25% annually over the next five fiscal years until 2026. Financial services is also expected to realize growth of about 150% annually until 2026 with Galileo seeing a 50% annual growth over the same time period.\nThe bank charter is the next phase of SoFi's growth as it would have a material effect on every facet of SoFi's businesses from SoFi Money and all their lending lines. Why?\nIt's The Margins, Stupid\nAt the core, owning a bank charter would allow SoFi to use their deposits, primarily from SoFi Money, to fund their own loans. Only banks are allowed to take FDIC-insured deposits from the public and have access to deposits as a source of funding. This would see the company replace its current comparatively costly financing agreements in place with a patchwork of third-party institutions. Operating as a chartered bank would provide access to the payments system operated by the Federal Reserve and access to wholesale funding such as the Federal Reserve discount window, Federal Home Loan Bank advances, and the federal funds market.\nFurther, in some jurisdictions, corporate entities permitted to act as a trustee is sometimes limited to just banks and trust companies. Essentially, SoFi's customer deposits will be used as a reservoir of funds that can then be drawn on to make loans. This will have a double pronged effect of allowing SoFi to offer more competitive loan rates whilst reducing their cost of capital. It would reverberate across the company's one-stop platform model by simultaneously making all their services more competitive. This would help to extend the current multi-product platform moat and contribute heavily to the bullish story. The recent weakness in the company's stock price now means this salient catalyst is not at all priced in. The impact over the next five years on underlying revenue growth and profitability will be significant. It would help drive the company's 5-year plan to reach at least 10 million members as it builds out its value add for its core demographic of US households with annual income of $100,000 or more.\nFrom being the sole retail distributor of the Rivian IPO and the pending banking charter, SoFi is taking the steps necessary to differentiate itself and build out a moat to dominate the expected decade-long growth of digital financial products. The company has also raised a further $95 million from the cash redemption of its outstanding warrants, simplifying its share structure.\nWhat Makes A Great Company And A Good Investment?\nCompanies with a pertinent ability to grow their revenues while proportionally increasing profits have always performed well. It's positive to see SoFi taking the steps to secure long-term revenue growth runway and underlying profitability. It's two catalysts are salient as they would place SoFi on a path to compete even better in the fields it currently operates in. Hence, with just 9 trading days left of this year left, the end of year-tax loss selling short sell trade looks set to finally taper out.J.P. Morgan's Kolanovic notes that the selloff is likely due for a reversal.\nBulls should not be complacent though as the broader economy could weaken if high inflation remains persistent and rising interest rates dampens consumer demand materially. I remain long and continue to buy on this weakness.","news_type":1,"symbols_score_info":{"SOFI":0.9}},"isVote":1,"tweetType":1,"viewCount":2371,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

SoFi And Its Bulls Might Just Be Standing On The Cusp Of Something Big<blockquote>SoFi及其多头可能正站在大事的风口浪尖</blockquote>

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