Core Insights - The big data industry focuses on companies that process, store, and analyze vast amounts of structured, unstructured, and semi-structured data, providing tools for data mining, transformation, visualization, and predictive analytics [1][3]. Company Summaries Fair Isaac Corp. (FICO) - Fair Isaac is experiencing strong financial performance, driven by growth in its Scores and Software segments, with an expected revenue growth rate of 21.1% and earnings growth rate of 34.6% for the current year [7][9]. - The company has expanded its scoring models to include 'Buy Now, Pay Later' loan data, enhancing predictive accuracy [7]. - FICO's Lenders Leading Inclusion Program supports better decision-making for lenders [8]. Teradata Corp. (TDC) - Teradata's prospects are bolstered by an improvement in ARR growth rate and productivity measures, with an expected revenue growth rate of -0.6% and earnings growth rate of 3.6% for the current year [11][14]. - The company is well-positioned to support Agentic AI workloads, managing critical enterprise data and delivering necessary performance [11]. - Recent acquisitions, such as Stemma, enhance Teradata's data search capabilities and analytics offerings [13]. F5 Inc. (FFIV) - F5 is benefiting from strong software growth, particularly in public cloud and security offerings, with an expected revenue growth rate of 1.8% and earnings growth rate of -5.2% for the current year [15][18]. - The company has made six acquisitions over the past five years to enhance its network security capabilities [16]. - F5's strong presence in Layer 4-7 content switching positions it well in the application networking market [17]. S&P Global Inc. (SPGI) - S&P Global is positioned to benefit from the growing demand for business information services, with an expected revenue growth rate of 7.2% and earnings growth rate of 11.6% for the current year [19][21]. - Recent acquisitions, including ProntoNLP, ORBCOMM, and TeraHelix, enhance its capabilities in textual data analytics and supply chain insights [19][20]. - The company's service launches are aiding growth and expanding market reach [19]. Moody's Corp. (MCO) - Moody's is leveraging its dominant position in the credit rating industry and strategic acquisitions to support top-line expansion, with an expected revenue growth rate of 7.8% and earnings growth rate of 11.9% for the current year [22][24]. - Recent acquisitions, such as securing majority ownership in Middle East Rating & Investors Service, are diversifying its revenue streams [23]. - A rebound in bond issuance volume is anticipated to drive growth for Moody's [23].

Group 1 - The recent announcement by President Trump to impose additional tariffs on certain European goods exported to the U.S. is set to take effect in February, with potential for further rate increases in the future [1] - The current positioning of global stock markets is significantly different compared to the previous year when similar tariff measures were announced, with major indices operating at high levels due to recent inflows and risk appetite [3][4] - The new tariff news is likely to act as a "trigger factor" for risk reassessment rather than a primary driver of market trends, with European markets expected to face more immediate pressure compared to U.S. markets [4] Group 2 - Industries with high cross-border trade exposure and export dependency are likely to be more affected, while defensive sectors may have more buffer space [5] - The market's response is expected to reflect structural adjustments and rotations rather than a broad-based risk-off sentiment, with future market dynamics heavily influenced by policy communication and external responses [5] - The potential for a market pullback is anticipated, characterized more as a technical correction and emotional rebalancing rather than a fundamental trend reversal [5] Group 3 - The New South Wales (NSW) government has reduced the number of senior public sector executives by over 8% in two years, indicating effective fiscal discipline measures [10][11] - The government aims to save over 100 million AUD annually through job cuts, reallocating funds to frontline services such as education and healthcare [12] - The reduction in senior executive positions is part of a broader budget repair plan that includes cutting external consultancy costs and controlling expenditure growth [14] Group 4 - The introduction of continuous disinfection technologies in Australian schools and public transport systems reflects a shift in public health management towards proactive measures [16][17] - These technologies, including automated UV-C systems and antimicrobial blue light systems, are designed to operate continuously, reducing the accumulation of viruses and bacteria in high-traffic areas [17] - The adoption of these technologies is seen as a response to rising public health standards and increasing labor costs, indicating a new operational model for public hygiene management [18] Group 5 - Myeco Group has reported a record quarterly sales of 1.7 million AUD for its MyEcoBag product, reflecting a 68% increase, and maintaining a leading market share in major supermarkets [26][27] - The company is focusing on opportunities arising from new regulations requiring organic waste classification, which will take effect in July 2026 [28] - Janus Electric Holdings has undergone a board restructuring to enhance governance and drive growth, with new appointments expected to inject fresh momentum into the company's strategic objectives [30][31]

Core Insights - Moody's Corporation (NYSE:MCO) is a leading provider of credit ratings, research, and risk analysis, playing a crucial role in global financial markets [1] - The company competes with major credit rating agencies like Standard & Poor's and Fitch Ratings [1] Stock Performance - Moody's current trading price is $535.12, reflecting an increase of $3.51 or approximately 0.66% [4] - The stock has fluctuated between $526.50 and $536.13 on the day, with a yearly high of $540 and a low of $378.71, indicating significant volatility [4] Market Capitalization - Moody's market capitalization is approximately $96.2 billion, highlighting its strong presence in the financial services industry [5] Analyst Outlook - Kazuya Nishimura from Daiwa has set a price target of $590 for Moody's, suggesting a potential upside of about 10.26% from its current trading price [2][6] - This optimistic outlook reflects confidence in Moody's future performance and market position [2] Governance Changes - Lisa P. Sawicki has been elected to Moody's Board of Directors, effective March 16, 2026, bringing extensive experience in audit and business advisory services [3] - Her leadership role at PwC is expected to strengthen Moody's governance and strategic direction [3][6]

Group 1 - At least $3 trillion is expected to be invested in data-center-related projects over the next five years, driven by the growth in artificial intelligence and cloud computing [1][5] - Major tech companies, including Microsoft, Amazon, Alphabet, Oracle, Meta, and CoreWeave, are projected to invest $500 billion in data centers this year due to rising demand [2] - Banks will play a significant role in financing these investments, with institutional investors also expected to participate in lending alongside banks [3] Group 2 - More US data centers are anticipated to utilize asset-backed securities and private credit markets for refinancing, with a notable increase in financing size and concentration expected after record issuance levels in 2025 [4] - Despite concerns about a potential bubble due to the substantial debt required for the AI revolution, demand for new data center capacity remains strong, with growth expected to continue globally over the next 12 to 18 months [5] - The need for additional capacity is projected to arise within the next decade, although the pace of technology adoption remains uncertain [6]

Core Viewpoint - The transition of leadership at Berkshire Hathaway from Warren Buffett to Greg Abel marks a new era for the company, with Abel committed to maintaining Buffett's investment philosophy of concentrating capital in high-quality ideas [1][2]. Investment Portfolio Overview - Berkshire Hathaway's investment portfolio totals $317 billion, with a significant concentration in eight key stocks that represent 74% ($234.5 billion) of the portfolio [3]. Key Holdings - **Apple**: Represents 20.1% of invested assets; despite being the largest holding, it has seen a 74% reduction in shares over the last two years, indicating a shift in investment strategy [4][6]. - **American Express**: Accounts for 18.2% of invested assets; known for its dual role as a payment facilitator and lender, it has a strong position among affluent customers, making it resilient during economic downturns [7][9]. - **Bank of America**: Comprises 10.2% of invested assets; the position has been reduced by 45% over five quarters, reflecting concerns over interest rate sensitivity amid a rate-easing cycle [11][13]. - **Coca-Cola**: Holds 8.6% of invested assets; its long-standing presence in the portfolio since 1988 is supported by a strong dividend yield and global market presence [14][15]. - **Chevron**: Represents 6.3% of invested assets; its integrated business model allows for stable cash flow, and it has a robust capital-return program with projected buybacks of $10 billion to $20 billion annually through 2030 [16][18]. - **Moody's**: Accounts for 4.1% of invested assets; it has performed well due to its debt rating services and analytics, benefiting from low interest rates in recent years [20][21]. - **Occidental Petroleum**: Comprises 3.4% of invested assets; it has a unique focus on upstream operations and is working to reduce its net debt position [23][25]. - **Chubb**: Represents 3.1% of invested assets; it focuses on high-end property and casualty insurance, allowing for premium pricing power and attractive margins [27][29].

Core Viewpoint - Investors in the Financial - Miscellaneous Services sector should consider BB Seguridade Participacoes SA (BBSEY) and Moody's (MCO) for potential value opportunities [1] Group 1: Zacks Rank and Earnings Outlook - Both BB Seguridade Participacoes SA and Moody's have a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions and an improving earnings outlook [3] - The Zacks Rank strategy targets companies with favorable earnings estimate trends, which is a key consideration for investors [2] Group 2: Valuation Metrics - BBSEY has a forward P/E ratio of 8.35, significantly lower than MCO's forward P/E of 32.56, suggesting BBSEY may be undervalued [5] - The PEG ratio for BBSEY is 2.58, while MCO's PEG ratio is 2.69, indicating that BBSEY has a more favorable valuation relative to its expected earnings growth [5] - BBSEY's P/B ratio is 5.8 compared to MCO's P/B of 23.12, further supporting the argument that BBSEY is the superior value option [6] - BBSEY has a Value grade of B, while MCO has a Value grade of F, highlighting the relative valuation strength of BBSEY [6]

Core Insights - Qualivian Investment Partners' Q3 2025 investor letter indicates strong performance, outperforming the iShares MSCI USA Quality Factor ETF by 69.2% gross and 61.3% net since inception, and exceeding the S&P 500 by 32.7% gross and 26.1% net [1] Company Performance - Moody's Corporation (NYSE:MCO) reported a one-month return of 5.22% and a 52-week gain of 6.38%, with a closing stock price of $509.65 and a market capitalization of $91.642 billion as of December 22, 2025 [2] - Moody's Corporation achieved record total revenue of $2.01 billion in Q3 2025, marking an 11% year-over-year increase, and reported adjusted EPS of $3.92, beating expectations by nearly 7% [3] - The company experienced a significant improvement in adjusted operating margins, increasing by 500 basis points to 53%, driven by strong issuance activity in its higher margin Moody's Investor Service segment [3] Hedge Fund Interest - Moody's Corporation was held by 87 hedge fund portfolios at the end of Q3 2025, an increase from 82 in the previous quarter, indicating growing interest among institutional investors [4]

Core Viewpoint - Moody's Corporation will relocate its global headquarters to 200 Liberty Street at Brookfield Place in Lower Manhattan, maintaining its over 115-year connection to New York City [1] Group 1: Company Strategy - The move is expected to be completed in 2027, representing a significant step in Moody's ongoing evolution [1] - The new headquarters aims to create world-class workspaces that enhance collaboration among teams and improve customer service [1]

Core Viewpoint - Moody's is introducing a new stablecoin rating system that could redefine how investors assess the $300 billion market for stablecoins [1] Group 1: Moody's Proposal - Moody's plans to assign deposit ratings to stablecoins based on the quality of reserve assets, market risk, and operational safeguards [1] - The proposal is open for public comment until January 29, following its announcement last Friday [1] - The increasing use of stablecoins coincides with new regulatory frameworks, such as the U.S. "Genius Act" passed in July, which provides a regulatory framework for stablecoins [1] Group 2: Evaluation Methodology - Moody's will evaluate the credit quality of each asset in the stablecoin reserve pool to calculate a weighted average [2] - The rating will be constrained by the weakest link, which is the lowest-rated asset in the reserves [2] - Five categories of liquid assets will be assessed, with cash deposits and central government securities receiving higher ratings [2] Group 3: Risk Considerations - The proposal includes considerations for liquidity and governance, as well as potential stress scenarios [2] - Moody's will assess technical risks, such as blockchain security vulnerabilities that could complicate transaction verification [2] - The new rating will not be used to evaluate the stability or investment performance of stablecoins, but rather their likelihood of timely redemption [3]

Core Points - The abrdn Income Credit Strategies Fund has declared a cash distribution of $0.328125 per share for its 5.250% Series A Perpetual Preferred Shares, payable on December 31, 2025 [1] - The Series A Preferred Shares are rated "A2" by Moody's and have an annual dividend rate of $1.3125 per share, issued at $25.00 per share on May 10, 2021 [2] - Distributions may come from various income sources, including net realized capital gains and return of capital, with tax reporting details to be provided in January 2026 [3] Company Information - Aberdeen Investments is the trade name for the investment business of Aberdeen, which includes affiliated registered investment advisers such as abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited [4] - The Fund's shares are traded on the secondary market, and their investment return and principal value may fluctuate, potentially trading at a premium or discount to the net asset value [5]