Hello everyone. This is Tuana from Llama Index and in this video I'm going to quickly walk you through how you can use Llama Cloud nodes in NAT workflows. These are open-source nodes that we've just created and it brings Llama Extract P and Llama Cloud indexes to NAN workflows.In this video, we're going to be looking at a very simple example. As you can see, I've already run this workflow. And what it does is once there is a change in a specific folder, specifically in my case the invoices folder on my mach ...

MSCI (MSCI -8.69%), a leading provider of financial indexes, analytics, and investment decision support tools, announced its Q2 FY2025 results on July 22, 2025. The company reported adjusted earnings per share of $4.17, slightly above analyst estimates, and revenue of $772.7 million, just ahead of expectations. Margins expanded, with the operating margin (GAAP) up a full percentage point year-over-year to 55.0%. However, new recurring subscription sales slowed in Q2 2025, and the company acknowledged cautio ...

Key Takeaways MSCI's Q2 EPS rose 14.6% Y/Y to $4.17, beating estimates; revenue grew 9.1% to $772.68 million. Recurring subscriptions and asset-based fees rose 7.9% and 12.7% Y/Y, driving MSCI's top-line growth. MSCI's operating margin expanded 100 bps to 55%, while adjusted EBITDA margin reached 61.4%.MSCI’s (MSCI) second-quarter 2025 adjusted earnings of $4.17 per share beat the Zacks Consensus Estimate by 0.24% and increased 14.6% year over year.MSCI's revenues rose 9.1% year over year to $772.68 milli ...

Second Quarter 2025 Earnings Presentation July 22, 2025 © 2025 MSCI Inc. All rights reserved. Introduction → Forward-Looking Statements 2 → This earnings presentation contains forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, MSCI's Full-Year 2025 guidance and MSCI's long-term targets. These forward-looking statements relate to future events or to future financial performance and involve underlying assumptions, as well as kn ...

Hello everyone. This is Tana from Llama Index and I want to walk you through the Llama Cloud MCP server that we created which is completely open sourced and this is the one that we created in Python uh which allows you to use Llama Cloud indexes and extraction agents as tools within any MCP client. And today I'm going to show you how um you can set it up to use with cloud desktop for example.So to start with, let's have a look at my Llama Cloud account. And you'll see that for example here I have two indexe ...

MSCI Inc. INVESTOR PRESENTATION May 17, 2024 Forward-Looking Statements 2 • This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, MSCI's full-year 2024 guidance and long-term targets. These forward-looking statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, perfor ...

Financial Data and Key Metrics Changes - The company aims for low double-digit growth in the index business, currently experiencing high single-digit growth [3][9] - Growth rates with hedge funds are at 22%, wealth managers at 16%, asset owners at 10%, and broker-dealers at 11% [6] - Active managers, the largest client segment, have seen growth rates decline to slightly below 7% due to outflows and fee pressure [7][8] Business Line Data and Key Metrics Changes - The index business has historically shown double-digit growth, with recent trends indicating a shift towards personalized systematic portfolios [10][12] - Custom indexes and additional content sets are opening new opportunities for growth, particularly in wealth management and trading communities [14][15] - Non-market cap, non-ETF assets have grown at 37% in the first quarter, compared to 16% for market cap mandates [45] Market Data and Key Metrics Changes - The company has captured 45% of flows into developed markets outside the U.S. and emerging market ETFs, totaling approximately $37 billion of the $42 billion in flows in the first quarter [25][26] - There is a noted shift in capital flows towards international investing, which is beneficial for the company [20][28] Company Strategy and Development Direction - The company is focused on expanding its index offerings, particularly in custom indexes, which are seen as a major growth driver [42][44] - The strategy includes enhancing product offerings and maintaining a long-term pricing philosophy that emphasizes value addition over aggressive price hikes [34][35] - The company is also positioning itself to benefit from the ongoing shift from active to passive management, while still supporting active managers with innovative solutions [72][75] Management's Comments on Operating Environment and Future Outlook - Management emphasizes the importance of confidence in the market for driving client buying behavior, particularly in relation to equity market stability [16][17] - There is cautious optimism regarding the recovery of international investing and the potential for increased sales as market conditions stabilize [19][20] - The company acknowledges the current challenges in the ESG space but remains committed to helping clients navigate these complexities [95][98] Other Important Information - The company has seen strong growth in its analytics business, driven by fixed income analytics and factor models [84][86] - The competitive landscape remains stable, with the company maintaining strong market share in institutional and retail markets, particularly in Europe [31][32] Q&A Session Summary Question: What are the key growth drivers for the index business? - The company highlighted the utility of its products and the expansion of licensing to more parts of client organizations as key growth drivers [12][13] Question: How does the strengthening equity market affect new sales? - Management noted that sustained momentum in equity markets generally supports client confidence and buying behavior, although it varies by region and client type [16][17] Question: What are the leading indicators for international investing? - Key indicators include a depreciating U.S. dollar, macroeconomic cycles, and valuation comparisons between U.S. and international markets [22][24] Question: How is the company positioned in the custom index market? - The company sees custom indexes as a significant growth opportunity, particularly as clients seek personalized investment strategies [42][44] Question: What is the impact of the shift from active to passive management? - The company remains agnostic to the shift, believing it can benefit from both active and passive strategies, with a focus on providing tools for both [72][75] Question: What is the company's strategy for fixed income? - The company has invested in fixed income analytics and is focusing on differentiated fixed income indexes, particularly in ESG and climate-related areas [79][81]

Financial Data and Key Metrics Changes - In 2024, the company achieved revenue growth of 11.6%, with organic growth at 11.8%, reaching $2.275 billion for the first time [72][73] - Adjusted operating income increased from $326 million in 2023 to $494 million in 2024, representing a 51% growth in operating margin [73][84] - For Q1 2025, revenue growth was reported at 7.2%, with organic growth at 9.1%, and adjusted operating income grew by 22% [74][75] Business Line Data and Key Metrics Changes - Morningstar Direct, the largest reportable segment, grew from $700 million to $788 million, maintaining strong margins [88] - PitchBook revenue increased from $450 million in 2022 to $618 million in 2024, with margin expansion from 15.9% to 30% [89] - Morningstar Credit had a significant year, contributing meaningfully to adjusted operating income, while Morningstar Wealth improved from a negative profitability position to a neutral one [90][91] Market Data and Key Metrics Changes - The company noted a significant expansion in the institutional client base, which has grown from 750 clients at the time of the IPO to a much larger number in 2024 [39] - The private credit market is highlighted as a key growth area, with increasing demand for related services and products [47][49] Company Strategy and Development Direction - The company aims to leverage insights and AI to enhance efficiency and productivity, focusing on removing friction in client interactions [41][42] - Morningstar's strategy emphasizes building a strong balance sheet to support long-term growth and resilience against market fluctuations [34] - The company is committed to expanding its capabilities in private markets and enhancing its data offerings to meet evolving client needs [48][52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to continue delivering growth and profitability, emphasizing the importance of a strong economic moat [76][94] - The leadership team is focused on capitalizing on market opportunities, particularly in the areas of private credit and wealth management [62][64] - The company recognizes the challenges in the Sustainalytics business and is working on restructuring its product offerings to better meet market demands [63] Other Important Information - The company celebrated its 20th anniversary as a public entity, reflecting on its growth and the benefits of being publicly traded [20][22] - A new Chief Strategy Officer was announced, indicating a commitment to strategic growth and continuity within the management team [30] Q&A Session Questions and Answers Question: What is the outlook for Morningstar's growth in the coming years? - Management indicated optimism about growth opportunities, particularly in private credit and the expansion of the institutional client base [39][47] Question: How is the company addressing challenges in the Sustainalytics business? - The company is focusing on simplifying its climate solutions and ensuring that its product suite meets market needs [63] Question: What are the key areas of investment for Morningstar moving forward? - The company plans to invest in technology and data capabilities to enhance its service offerings and drive growth [78][80]

Market Catalysts - Catalysts are crucial in investing, as they can lead to significant price movements in stocks, such as regional banks and biotechs surging on takeover offers [3][4] - A major event scheduled for May 7 is anticipated to trigger substantial market changes, with preparations being made for this potential shift [4][22] CME Group Inc. (CME) - CME Group reported a 10% increase in revenues to $1.6 billion and a 12% rise in earnings per share (EPS) to $2.80 [7] - The exchange has seen a surge in trading volumes, averaging 40 million contracts daily in April, compared to 29.8 million in the first quarter [8] Intuit Inc. (INTU) - Intuit is expected to benefit from upcoming tax changes, with shares having previously risen 38% during the first year of Trump's presidency [11][12] - The stock trades at a forward earnings multiple of 30X, which is 15% below its five-year average, indicating potential for growth as tax discussions progress [14] U.S. Bancorp (USB) - U.S. Bancorp is recognized for its strong management and conservative underwriting, with a return on equity (ROE) of 13%, significantly above the industry median [15] - Recent market fears have pushed USB shares to low levels, presenting an opportunity for a potential "V"-shaped recovery, with expected upside of 25% to 50% [17][18] Market Cash Reserves - Investors currently hold a record $7 trillion in cash, with private equity alone holding at least $2.62 trillion, indicating a potential influx into the stock market [21]

近日，全球独立投资研究机构晨星公司（NASDAQ：MORN）宣布完成两项战略性收购，进 一步增强其在私募信贷和结构性金融领域的业务实力。 其中，Lumonic Inc. 是一家专注于私募信贷投资组合监测与管理的平台，收购已于美国当地时 间3月3日完成。而Dealview Technologies Limited（DealX），则提供标准化的美国商业抵押 贷款支持证券（CMBS）及全球抵押贷款凭证（CLO）数据服务，该交易已于2025年3月1日顺 利收官。 此次收购将助力晨星提升私募信贷与结构性金融业务，为机构投资者和资产管理人提供更高 效、更透明的解决方案，以优化投资决策。 01 晨星构建覆盖公募与私募的综合服务生态 晨星在公募及私募投资领域的综合能力布局独具优势，通过PitchBook提供海量私募数据与深 度洞察，借助Morningstar Indexes的私募市场指数编制能力，以及旗下全球第四大信用评级机 构Morningstar DBRS，构建起全方位的综合服务生态。 晨星全球CEO Kunal Kapoor表示， "晨星希望为投资者打造贯通私募与公募市场的投资分析 工具。通过整合Lumonic与Dea ...