Moody's Corporation
MCO
position
long
Pine Stone Asset Management
Thesis
Moody's operates in a duopoly with S&P, providing a highly sticky business model that offers significant ROI for clients through cost savings on bond issuance. This creates a strong incentive for companies to seek ratings, leading to high margins and consistent demand for Moody's services.
Did it work?
inconclusive
confidence: low
Without specific price performance data or a defined time horizon for the thesis, it's difficult to assess whether the investment thesis has played out. While the thesis presents a strong argument for Moody's business model, the lack of concrete outcomes or time elapsed makes it impossible to determine the effectiveness of the pitch.
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