High quality companies like $AAPL, $GOOG, $FB and $SPGI are buying back shares heavily right now. Opportune time because of depressed prices.
IF this is not the start of a prolonged bear market, wouldn't mind staying down for a few months for repurchases to go through.
$SPGI share repurchases have been impressive in the last 20 years and a meaningfully driver of EPS growth. Share count is up since last quarter because of the recent acquisition of IHS Markit, but the company already announced a new Accelerated Share Repurchase program.
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Weekly market review (week/YTD)
$SPY -0.16%/-13.39%
$QQQ -1.28%/-22.27%
$VTV +1.28%/-3.13%
$VUG -2.06%/-23.53%
$ARKK -3.18%/-51.76%
Portfolio -1.28%/-16.28%

A volatile week ends roughly where it started leaving everybody confused.

Once again, investors who are invested in boring big cap value companies look very smart right now. Kudos to them! We will see how it turns out. Over the long-term, a value ETF like $VTV is underperforming the S&P 500 and especially the Nasdaq 100.

Indices are down five weeks in a row, it’s not unreasonable to assume that we bounce next week. On the other hand, nobody can predict the market. As an investor looking for quality companies, I would actually be more than fine with getting a few more buying opportunities.

My portfolio got hit like everybody else. However, I took advantage of lower prices and increased my positions in $SPGI, $KEYS and $NOW. Still patiently waiting for even lower prices on a few quality companies from my selection.

Check out my public eToro portfolio to follow all my investments:
Lots of high quality companies came down to more reasonable price levels in recent months, like $GOOG, $NVDA, $ADBE, $NOW, $SPGI.
This shows once again, that apart from identifying excellent companies and doing your research, you also need the patience to wait for a good price.
$FICO Competitive Advantage
Many investors think that $FICO is going to be disrupted by Vantage Score, $UPST and $AFRM, but I believe that is extremely unlikely. These competitors claim they have better predictive analytics for credit ratings than FICO but that is irrelevant to FICO’s competitive advantage.

Similar to $SPGI and $MCO, Fico has become a standard and common language. In order to communicate across organizations, you need to use a Fico score. This is shown by 98.8% of dollars securitized in the US solely citing Fico scores as a risk measurement. FICO scores cost an average of 6.5 cents per score. These scores are used for car and home loans which are large investments. There is little incentive to scape out of paying 6.5 cents for a score and not be able to securitize them. Fico mortgage scores are protected by the law. Their 10k stated “Requirement of The Federal National Mortgage Association (“Fannie Mae”) and The Federal Home Loan Mortgage Corporation (“Freddie Mac”) that U.S. lenders provide FICO® Scores for each mortgage delivered to them.” Banks have also come under scrutiny for who they reject giving loans too. Banks don’t have to explain to customers they got rejected because of a low Fico score. Fico has a 90% brand awareness while Vantage Score has 10%.

Fico has a software segment that is ingrained into banks. 95/100 of the largest US financial institutions are Fico clients. There are high switching costs in changing software systems, especially ones that are so integral to loan securitization.

Fico has great capital allocation. Management stated, “We view FICO shares as the best use of our excess cash at this time and expect to continue to aggressively buy back shares in the coming year.” They spend over 100% of their FCF buying back shares.

My full Fico write-up will be released on Monday. I hope you enjoy it.
Blackrock and hypocrisy
After looking deeper into $BLK I noticed that I don't like the moral aspect of the investment at all. So much hypocrisy. Preaching ESG here and there and then invest $15 billion into saudi pipelines and buying tons of defense stock the day Russia invades Ukraine

Over the next weeks I'll evaluate deep moat alternatives in the financial sector: $MCO, $MSCI, $SPGI. If anybody knows good writeups about it, please let me know.
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