The Institutional Risk Analyst

At one point last year, HOOD was up several hundred percent, but has given back much of those gains. Yet the leaders of our finance group have outperformed the broad market.

While GHLD provides a lot of good information about their business, the investor disclosure provided by UWMC is a bad joke, especially when you remember that UWMC is the largest nonbank lender in the US. The Q1 2025 press release is just 9 pages in length and lacks some of the most basic financial information available from UWMC’s peers.

Central banks have changed their posture from net sellers of gold to net buyers. Central banks are not price sensitive regarding gold, they are sensitive to volume and tonnage of available gold.

TD was up about 6% over the past three months, the only name in our test group with a positive three-month market return, of note.

The overall loss rate for the SOFI credit book is very low and the overall net loss rate reported in the Form Y-9 is also low, as shown in the chart above. But the levels of net loss on the bank's unsecured consumer loan book are eye-opening. As and when credit costs actually start to rise among US banks, the unsecured consumer book of SOFI may become a larger concern.