SPGI - S&P Global Inc.

Quality compounder with low valuation (P/E ~20), expects revenue growth, margin improvement from mobility spin-off, and continued buybacks

Expected to report strong earnings similar to Moody's, benefiting from debt grading.

Mentioned as part of the duopoly with Moody's, implying similar pricing power.

More cyclical due to ratings business, lower overall margins after IHS Markit acquisition, shareholder dilution, new management with less insider ownership. Despite a slight valuation discount, the creator prefers MSCI and would not buy SPGI.

Very good and safe with wide moat; cheap at current levels. He likes it but prefers MSCI and won't buy.

Same trust-based moat as Moody's. Also does analytics and indices. Asset-light, zero capex, massive buybacks, dividends. Impossible to kill for 10-20+ years.

Mentioned as a competitor/data provider that Christophe monitors to cross-reference with MSCI's business and understand the analytics/software industry dynamics.

Leelu opened a new position. Described as a toll-booth style financial data and ratings business with high moat, bought at a discount due to AI fears.

Cited as a low-capex, wide-moat business that Chris Hohn is rotating into. Has zero capex. Represents the type of asset-light investment the creator prefers.

Identified as a credit rating agency that is down and potentially disrupted by AI fears, but Kristophe believes this disruption thesis is wrong. These companies have regulatory moats and proprietary data.