MSCI's stock is pressing its roughly $650 2021 high after years of higher lows, a long base that sets up a durable uptrend. Each pullback since 2022 has stopped higher, signaling sellers are running out. A decisive breakout on strong volume would confirm the business story. MSCI collects a fee as passive funds grew from 1% of US equity fund assets in 1993 to over 50% in 2024, index retention has stayed above 93% for 16 quarters, and it has grown from a $1 billion index firm into four businesses. … Show more

FactSet risks having its app usage automated from outside and becoming unmonetizable as AI agents operate it directly. Its MCP integration was a huge advance and a growth driver, worth perhaps a 20% subscription uplift, but OpenAI's computer use worked well on a regular desktop session, if much slower, and simply noted the FactSet subscription to use when needed. SaaS bear points from earlier this year are materializing quickly. x.com  x.com 

US large-cap equities stay a buy because an uninterrupted AI narrative is strong enough to overcome adverse macro developments. Core inflation in the high 2s or low 3s is not a big risk; stocks, the Fed and a sideways 10-year yield show little concern. As long as AI capex is not slowing, macro remains a dominated risk. A pullback is overdue, but its likelier catalyst is AI-related, such as a megacap like Meta cutting capex or open models reviving ROI questions, which would change the view. x.com  … Show more

Snowflake is overlooked AI infrastructure because every enterprise AI model needs clean, governed data to run on. It has 126% net revenue retention, $9.77 billion of contracted future revenue and 813 of the world's 2,000 largest companies as customers. x.com