Banks, insurance, asset managers, and fintech analysis.
3 articles in Financial Services
Apollo posted record $728M Fee Related Earnings and crossed $1 trillion in AUM in Q1 2026. A 40-60% valuation discount to peers versus 30% FRE growth makes no fundamental sense.
Citigroup's Q1 RoTCE of 13.1% already cleared its 2026 target, and the bank is buying back stock near tangible book value of $99.01 — yet it still trades like an unfinished turnaround.
PYPL has de-rated to ~$44 and ~8.4x earnings on a single fear — branded checkout is losing share — while consensus misprices three things the filings refute: a ~$14B transaction-profit base growing 3% in spite of the checkout drag, a Venmo/PSP growth engine compounding double digits, and a ~$6B annual buyback retiring ~10% of the float a year. Forensic case: BUY, $62 in 12 months, $80+ long-term.
Forensic equity research on US stocks. No spam, unsubscribe anytime.