John Maxfield on Banks, Lending, and SoFi
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Description
It's an exciting time to invest in the banking sector. Newly-elected President Donald Trump has promised to relax regulations on banks, which could boost lending volumes. The Federal Reserve has lowered interest rates twice during the past two months, which could make companies more eager to borrow. In response, several publicly-traded financial services companies including Upstart Holdings (Nasdaq: UPST), Affirm Holdings (Nasdaq: AFRM), and SoFi Technologies (Nasdaq: SOFI) have seen their share prices skyrocket and are generating fantastic gains for their investors. But will this momentum continue? What impact will Trump's administration really have on banking? And what, specifically, should those of us investing in banking be watching for? In today's podcast, 7investing CEO Simon Erickson gets the answers to those questions from banking expert John Maxfield. The two discuss why the macro is favorable for banking, yet also a few cautionary things to watch out for at SoFi. Disclaimer: 7investing and its guests may have active positions in the companies mentioned in this podcast. To see all of 7investing's active recommendations, sign up for a 7-day free trial of our service at 7investing.com/subscribe.
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