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FICO is two businesses stapled together. The first is a regulatory standard masquerading as a product — the FICO Score, embedded in LLPA grids, GSE requirements, MBS ratings, Basel capital models, and securitization documentation across the entire U.S. mortgage infrastructure. The second is an enter

S&P 500 Software & Services is down 20%+ this month. About $1T in market cap erased. Every SaaS name is selling together — Palantir (+70% YoY revenue growth) dropped the same day as DocuSign (+8% revenue growth). The question everyone is now asking: which software companies survive AI? Nobody has a

PASS at current levels. ~2% idio alpha doesn't justify company-specific risk. Mostly a leveraged beta position. Adobe is the critical test case in SaaS AI survival. Creative Cloud ($17.65B, 74% of revenue) faces the most direct AI substitution of any major software category — Midjourney, DALL-E, Sor

S&P Global is five businesses duct-taped to a regulatory franchise. What matters: Ratings (31% of revenue, 64% margins — NRSRO duopoly with Moody's), Indices (12% of revenue, 69% margins — the S&P 500 is a noun, not a product), Market Intelligence (32% of revenue, 20% margins — Capital IQ, data feed

RELX PLC (RLXXF) is the sixth major data provider sold off -20% to -55% on AI disruption fears while posting strong execution. The Q4 2025 earnings call (Feb 12, 2026) shows 7% revenue growth, 9% profit growth, 35% margins, 99% cash conversion, and a GBP 2.25B buyback (+50% YoY) — management buying

Colliers International (CIGI) dropped -23% in one month to $113 on a -4.5% Q4 EPS miss, amplified by sector-wide AI disruption fears. The thesis is factor timing, not discovery: buy a quality CRE services franchise at a cyclical trough (13.3x forward P/E on 15%+ guided growth), betting on CRE recove

GitLab trades at $29.55, down 59% from its 52-week high, at 3.3x EV/NTM revenue. RSI sits at 17 — deeply oversold. The market is pricing in a broken growth story — management exodus, decelerating revenue (25% → ~19% Q4 guide), declining net retention (124% → 119%), and competitive obliteration by Gi

SPGI reported Q4 2025 earnings on February 10, 2026 — the exact day of the AI disruption panic selloff. Stock closed -9.7% at RSI 10.4 (extreme oversold). The irony: management spent the call explaining in specific detail why they're an AI beneficiary, not a victim. And they're backing it up. CFO Er

Alternative asset managers are trading at extreme technical oversold levels (RSI 9-13) despite strong operational metrics. The sector sold off hard after Q4 2025 earnings showed mixed results and a new AI disruption narrative emerged. ARES reported Feb 5, missing consensus on both EPS and revenue, w

Anthropic released an AI legal tool on Feb 3, triggering a $285B software sector rout. Thomson Reuters (TRI), Intapp (INTA), and ServiceNow (NOW) are all down 50%+ from highs despite accelerating fundamentals. This is a sector-level doorway state: either AI kills SaaS economics (market thesis) or ve