@kristinnsms Yeah I’ll sit Fico out. There are a lot of attractive opportunities that are better. What do you think of MasterCard at current prices ? Seems like a fair valuation for an excellent business
@long_equity True, I’m just trying to look at the survivability of the two businesses (ie which is more durable / has a higher chance of being here in 50 years)
@long_equity So (apart from financials), you’d also consider the moat stronger ? I wonder then why someone like Hohn (who has owned both) stuck with the rating agencies
@killthepedophil@Nybergarenn@returnoncap I don’t see the 0.03% cut they take though (as a customer) ? Are they really going to give me a discount to escape a 0.03% take, noting that they risk losing consumers that rely on these cards ? I don’t think so personally
@killthepedophil@Nybergarenn@returnoncap How does the merchant incentivize the consumer to switch ? Noting the consumer has points, rewards, discounts, and can use it everywhere in the world ? (And I’m probably missing other things)
@kristinnsms How do you account for the pricing power of a business in the hurdle rate ? A company might be compounding FcF at 7% with a lot of untapped pricing power potential, and decide one day to start ramping up (see Fico in early 2020’s).
@Divs_King +-20% annualisé depuis mes débuts. Pas lié a un talent particulier. J’ai juste eu la chance d’ouvrir le CTO pendant le crash covid et investi dans Google pcq j’aimais bien YouTube (a ~90$). Aucune thèse, aucun savoir, rien. Mtn que j’ai appris, j’ai l’impression de régresser 😅.
@FirstSquawk They can take the $125B punch and be fine in the long run (can’t say that about most companies). I’m of the camp that their AI tools, developed specifically for their business, will be value accretive (better algo’s, better ROI on ad spend..)