Robinhood Markets (HOOD) Conference June 30, 2025 11:00 AM ET Speaker0 Alright. Welcome to the French Riviera and the historic Chateau De La Croix Des Gardes. It's hot out here, isn't it? You guys staying cool? Alright. Don't worry. You can unbutton a little bit. This is probably the most I can do. Thank you for coming to our first ever crypto keynote and our first big event in Europe. You'll find out how these pieces fit together in just a moment. It's been an exciting year for this community. How many of ...

Stock Tokens We've launched US stock and ETF tokens in the EU. Crypto Perpetual Futures Introducing crypto perpetual futures in the EU. Crypto Staking Crypto staking is launching to eligible US customers, starting with Ethereum and Solana. Robinhood Presents: To Catch a Token Robinhood Presents: To Catch a Token Robinhood Stock Tokens will allow EU customers to get exposure to the US stock market Robinhood will also launch a new Layer 2 blockchain to power the tokenization of Real World Asse ...

Core Viewpoint - Berkshire Hathaway holds a significant stake in American Express, valued at $37 billion, indicating potential for continued success in the financial sector [1] Group 1: Competitive Strengths - American Express possesses durable competitive advantages, characterized by a strong brand and economic moats, making it a high-quality business [3] - The company has a powerful brand presence in the financial services industry, targeting wealthier clients with premium credit cards that offer high rewards and perks [4] - American Express benefits from a network effect, where increased merchant acceptance enhances the value of its cards for consumers, creating a positive feedback loop [5][6] Group 2: Financial Performance - In 2024, American Express reported a 9% increase in revenue, reaching $65.9 billion, and a 19% rise in adjusted earnings per share (EPS) [7] - The company anticipates revenue growth of 8% to 10% and adjusted EPS growth of 12% to 16% in 2025, with long-term sales growth projected at a minimum of 10% per year [7] - Favorable trends, such as the shift towards cashless transactions and rising GDP, are expected to drive payment volume through American Express's network [8] Group 3: Customer Base and Demographics - The customer base is shifting, with millennials and Gen-Z accounting for over 60% of new consumer accounts in Q1, indicating a growing spending trend among these demographics [9] Group 4: Valuation and Capital Return - American Express shares are currently trading 26% below their all-time high, presenting a compelling valuation opportunity with a price-to-earnings (P/E) ratio around 17, one of the lowest in the past year [10] - The company has a strong capital allocation policy, returning $2 billion in dividends and repurchasing $5.9 billion in stock in 2024, enhancing returns for investors [11]