Very useful, thank you. One thing I think we need to be careful about the last KBRA graph is: KBRA has been upgrading Upstart's ABS in a big way, especially for their earlier years loans ABS, some got BB- when it closes, but eventually moved up all the way to AA-. So this graph might be misleading in the way that, Upstart loan quality did not change THAT much over the years, it is more about how KBRA view their loan quality, the recent years of ABS might be better quality than it shows here: it take take time for KBRA to look at the real default rate and update their model.
Hi Brad, thanks for this. I have been following and an investor of Upstart since IPO. I usually check the www.kbra.com for Upstart loan ratings assigned and affirmed/changed. I like your chart a lot, I am wondering where did you get the info/data to plot the line...much appreciated. thanks!!
Very useful, thank you. One thing I think we need to be careful about the last KBRA graph is: KBRA has been upgrading Upstart's ABS in a big way, especially for their earlier years loans ABS, some got BB- when it closes, but eventually moved up all the way to AA-. So this graph might be misleading in the way that, Upstart loan quality did not change THAT much over the years, it is more about how KBRA view their loan quality, the recent years of ABS might be better quality than it shows here: it take take time for KBRA to look at the real default rate and update their model.
Great stuff, as usual! 🙌
Thanks for the update. I was curious to know where did the points on SOFI come from?
Hi Brad, thanks for this. I have been following and an investor of Upstart since IPO. I usually check the www.kbra.com for Upstart loan ratings assigned and affirmed/changed. I like your chart a lot, I am wondering where did you get the info/data to plot the line...much appreciated. thanks!!
Curious, would you consider adding Palantir to your portfolio now that it's in a pretty good price?