Incremental Insights #105
The best fo what I read, listened to, and watched during the week.
Nothing in Investing is “Doing Nothing”
Doing “nothing” in investing still involves choices like how you rebalance, or how often you rebalance, how concentrated you are, and how far you let winners run.
Moody’s vs. S&P Global: Which Ratings Giant Is the Better Buy?
Moody’s and S&P look like twins (same ratings moat), but the difference between the two and the potential edge is the business mix. S&P’s index/data “royalty” vs. Moody’s subscription analytics engine.
Payments and FinTech: Mid-Year Progress Report
Mid-year scorecard for ~23 public payments/fintech names vs bullish/bearish expectations set back on Jan 1, 2026. And which ones are looking drastically undervalued.
CAA with Michael Orvitz
An older episode, but a great conversation with Michael Orvitz on the founding of CAA and how the business of Hollywood changed upon its arrival.