CBOE: Downgrading To Hold Amid Rising Costs And Intensified Competition

I recommended Cboe Global Markets, Inc (BATS: CBOE ) as a 'buy' in January last year and since then, the stock has performed well, up 20%, but below the S&P 500's return of 27% over the same period. CBOEI'm an insurance Case Manager with a deep interest in investing. My investment philosophy is all about buying high quality stocks and great businesses. My favorite businesses are those led by disciplined capital allocators, earn exceptional returns on capital, and can compound their invested capital over lon ...