Core Thesis - Morningstar, Inc. is viewed positively due to its strong market position and the resilience of its core assets, despite not being statistically cheap on traditional valuation ratios [2][3] Company Overview - Morningstar, Inc. provides independent investment insights across various regions including the United States, Asia, Australia, Canada, Continental Europe, and the United Kingdom [2] - The company's share price was $172.41 as of February 25th, with trailing and forward P/E ratios of 24.07 and 19.80 respectively [1] Revenue and Growth - Morningstar's revenue streams are largely recurring and are growing at a steady rate of 5-10% on a substantial base [3] - The company has a strong moat in mutual fund ratings, investment research, and proprietary financial data [3] Competitive Advantage - A key asset is PitchBook, a high-value data platform focused on private markets, which provides proprietary datasets that are not easily replicated by AI systems [4] - The increasing use of AI may actually enhance the value of controlled, verified datasets like those offered by PitchBook [5] Market Dynamics - As interest rates decline and IPO activity recovers, there is potential for renewed startup formation and venture funding, which supports PitchBook's growth [5] - Morningstar is positioned for sustained long-term expansion due to scalable economics and strong competitive positioning [5] Management and Governance - There is a management transition risk under a relatively new executive regime, but the continued involvement of founder Joe Mansueto as chairman provides governance continuity [3] - The company has experienced a stock price depreciation of approximately 43.3% since previous coverage due to sector pullbacks amid generative AI disruption fears [6]

Core Viewpoint - The article discusses the author's transition to income-oriented investing in retirement while reflecting on previously highlighted growth stocks that may have been overlooked [1] Group 1: Investment Strategy - The focus is on seeking high-yield income investments such as dividend-paying stocks and funds, including BDCs, REITs, CEFs, and ETFs to enhance retirement income beyond pension and Social Security [1] - The author emphasizes the importance of conducting thorough research and making informed long-term investment decisions, especially after experiencing the Great Recession [1] Group 2: Market Insights - The article highlights the author's interest in market psychology and trends in technology and markets, indicating a holistic approach to understanding investment opportunities [1]

I have been recently spending considerable time digging into utilities. To be honest, it is not the most interesting part of the market, but that is where the silent opportunities are likely to be found.I’m an ACC-qualified finance professional with a Master’s in Audit & Accounting from Istanbul University and certificates in Data Analytics from Coursera. For over two years, I’ve worked as a Data Scientist and Financial Analyst at a leading property management firm in Istanbul, where I developed budgets, se ...

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Core Insights - Steven Cress is a key figure at Seeking Alpha, serving as VP of Quantitative Strategy and Market Data, and is the creator of the platform's quantitative stock rating system [1] - Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, positioning him as an expert in investment topics [1] Company Overview - Seeking Alpha offers a quantitative stock rating system designed to interpret data for investors, providing insights and saving time for users [1] - The platform includes analytical tools and a systematic stock recommendation tool called Alpha Picks, aimed at helping long-term investors build a high-quality portfolio [1] Investment Strategy - Cress emphasizes a data-driven approach to investment, utilizing sophisticated algorithms and technologies to simplify complex research processes [1] - The goal is to create an easy-to-follow, daily updated grading system for stock trading recommendations, thereby reducing emotional biases in investment decisions [1]

Group 1 - Steven Cress is the Head of Quantitative Strategies at Seeking Alpha, managing quant ratings and factor grades on stocks and ETFs [1][2] - Cress leads Alpha Picks, selecting two attractive stocks to buy each month and determining when to sell them [1][2] - The Seeking Alpha Quant Rating system, created by Cress, interprets data for investors and offers insights on investment directions [2] Group 2 - Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, enhancing his expertise in investment topics [2] - Prior to Seeking Alpha, Cress founded CressCap Investment Research and Cress Capital Management, and worked at Morgan Stanley and Northern Trust [2]

Group 1 - Steven Cress is the Head of Quantitative Strategies at Seeking Alpha, managing quant ratings and factor grades on stocks and ETFs [1][2] - Cress leads Alpha Picks, selecting two attractive stocks to buy each month and determining when to sell them [1][2] - The Seeking Alpha Quant Rating system, created by Cress, interprets data for investors and offers insights on investment directions [2] Group 2 - Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, enhancing his expertise in investment topics [2] - Prior to Seeking Alpha, Cress founded CressCap Investment Research and Cress Capital Management, and worked at Morgan Stanley and Northern Trust [2]

Group 1 - Steven Cress is the Head of Quantitative Strategies at Seeking Alpha, managing quant ratings and factor grades on stocks and ETFs [1] - Cress leads Alpha Picks, selecting two attractive stocks to buy each month and determining when to sell them [1] - The quantitative stock rating system created by Cress is designed to interpret data for investors, offering insights and saving time [2] Group 2 - Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, positioning him well to discuss various investment topics [2] - He previously founded CressCap Investment Research, which was acquired by Seeking Alpha in 2018, enhancing its quant analysis and market data capabilities [2] - Cress has a background in running a proprietary trading desk at Morgan Stanley and leading international business development at Northern Trust [2]

Group 1 - Steven Cress is the Head of Quantitative Strategies at Seeking Alpha, managing quant ratings and factor grades on stocks and ETFs [1][2] - The Alpha Picks initiative selects two attractive stocks to buy each month and determines optimal selling times [1][2] - The quantitative stock rating system at Seeking Alpha is designed to interpret data for investors, providing insights and saving time [2] Group 2 - Steven Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, enhancing his expertise in investment topics [2] - Prior to Seeking Alpha, Cress founded CressCap Investment Research and Cress Capital Management, and worked at Morgan Stanley and Northern Trust [2] - The platform aims to remove emotional biases from investment decisions through a data-driven approach and sophisticated algorithms [2]

Group 1 - Steven Cress is the Head of Quantitative Strategies at Seeking Alpha, managing quant ratings and factor grades on stocks and ETFs [1] - Cress leads Alpha Picks, selecting two attractive stocks to buy each month and determining when to sell them [1] - The quantitative stock rating system created by Cress is designed to interpret data for investors, offering insights and saving time [2] Group 2 - Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, positioning him well to discuss various investment topics [2] - He previously founded CressCap Investment Research, which was acquired by Seeking Alpha in 2018, enhancing its quant analysis and market data capabilities [2] - Cress also founded a quant hedge fund, Cress Capital Management, and has experience running a proprietary trading desk at Morgan Stanley [2]