Ken Fisher buys into Brazil's financial powerhouse NuBank. $NU (-1.04%)
Star investor Ken Fisher is one of the most high-profile investors in the world. He is regularly featured in the stock market media and his books have achieved cult status. His investment style was decisively influenced by his father, investment legend Philip. A. Fisher, who even influenced stock market legends such as Charlie Munger and Warren Buffett. Philip A. Fisher was not a pure value investor, but combined the advantages of value investing and growth investing in his investment strategy. Today, this style would be called GARP, growth at a reasonable price.
But Buffett's success with Nu Holdings is hardly the driving force behind Ken Fisher's new investment in Brazil's banking powerhouse. It is more likely to be the ongoing operational successes. Nu Holdings increased its revenue by 37.4% year-on-year to USD 2.94 billion in the third quarter of 2024, but fell just short of market expectations. However, adjusted earnings per share were higher at USD 0.11.
Overall, the company almost doubled its adjusted net income year-on-year to USD 553 million. This was largely due to the 63 % increase in interest income, which is primarily the result of significantly higher customer deposits. Adjusted for currency effects, these climbed by 60% to USD 28.3 billion.
