Research Feed
Fair Isaac (FICO) — SaaS AI Survival V-Score: 3.57
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 Global (SPGI) — SaaS AI Survival V-Score: 4.24
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
SPGI Q4 Call: Management Buying the AI Panic They're Contradicting
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