Core Insights - Berkshire Hathaway's annual letter marks the first from CEO Greg Abel, who succeeded Warren Buffett in 2026, providing insights into the company's future direction without Buffett's leadership [1] - Abel emphasized that Berkshire will have "limited activity" in its major equity holdings, including American Express, Coca-Cola, Moody's, and Apple, indicating a long-term investment strategy [2][6] Company Strategy - Abel believes that Berkshire's core holdings will "compound over decades," reflecting confidence in the long-term prospects of these businesses [3][6] - The decision to hold onto these investments will be based more on the underlying business fundamentals rather than valuation metrics, with significant adjustments only occurring if there are fundamental changes in long-term economic prospects [6] Focus on Apple - Abel expressed high regard for Apple, stating it is Berkshire's largest equity holding and that it is expected to compound over time [3][5] - Apple's fiscal Q1 earnings per share increased by 19% year over year, driven by a services segment with a gross profit margin of 75.4%, which accounted for approximately 26% of its fiscal 2025 revenue [8][10] - Apple's overall sales grew by 16% year over year in fiscal Q1, showcasing strong operating leverage [9] Valuation Considerations - Despite a long-term holding strategy, valuation remains important, with Apple trading at about 33 times earnings, reflecting expectations for continued robust growth in its services segment [11] - The company's strong customer loyalty and effective capital allocation practices justify a fair price for the stock [11]

Intapp announces Partner Forum 2026 Award winnersFeb 26, 2026 5:30 PM Eastern Standard Time# Intapp announces Partner Forum 2026 Award winnersShare---Awards celebrate our partners' dedication to innovation, collaboration, and client successPALO ALTO, Calif.--([BUSINESS WIRE])-- [Intapp](NASDAQ: INTA), the leading governed AI platform for professional firms in highly regulated industries, today announced the winners of its Partner Forum 2026 Awards. The awards recognize demonstrable client success in five ca ...

Join Qualtrim, the stock analysis platform I built and use, and join over 12,000 other paying members: https://www.qualtrim.com/ 00:00 Overview 02:00 Super Investor Buys 17:17 Moody's Earnings 22:40 DoorDash Earnings 23:55 Fail Of The Week: Sam & Dario -Disclaimer Some of the links below are affiliate links, I can earn money from them at no cost to you. This content is not a solicitation, is not endorsed by M1, and was not reviewed by M1; the opinions expressed are solely those of the authors and do not ref ...

Moody’s logged higher profit and revenue in the fourth quarter, as the company said efforts to scale new technologies across its business were paying off. https://t.co/v1Of0XBDgA ...

Market Overview - Wall Street is experiencing significant disruption concerns due to AI, leading to a sell-off in various sectors, particularly software companies, which has resulted in sharp losses in U.S. stocks this week [1][2]. Software Sector - The S&P 500 Software & Services index has lost approximately $2 trillion in value since its peak in October, with half of this loss occurring in the past two weeks due to fears that AI could disrupt traditional subscription and enterprise tools [2]. - Notable declines in the Nasdaq 100 include Atlassian down 47%, Intuit down 40%, and Workday down 33% [4]. - The U.S. software sector is facing its worst drawdown in over three years, impacting alternative asset managers with exposure to software-related loans, with firms like Ares, Blackstone, and KKR seeing declines between 13% and 24% this year [5]. Financial Brokerage, Data Analytics & Legal Services - The financial industry, especially brokerages and data analytics firms, has been negatively affected after Altruist introduced AI-enabled tax planning features, raising fears about the viability of their business models [6]. - Shares of brokers such as LPL Financial and Charles Schwab fell over 7%, while S&P Global's shares dropped more than 25% in February, marking its worst month since 2009 [7]. Real Estate Services - Commercial real estate and investment managers have suffered as investors shift away from high-fee, labor-intensive business models perceived as vulnerable to AI disruption, with CBRE Group and Jones Lang LaSalle each dropping about 12% [8]. Insurance Sector - Insurance stocks have experienced a significant decline, with the S&P 500 insurance index falling 3.9% on a single day, its largest drop since mid-October, following the release of an AI-powered comparison tool by Insurify [10]. - Shares of Willis Towers Watson have decreased by 15% this week, while Aon and Arthur J. Gallagher fell by 9% and 15%, respectively [11]. Trucking & Logistics - The trucking and logistics sector saw unexpected declines, with stocks like Landstar System and C.H. Robinson dropping sharply after Algorhythm Holdings reported a significant increase in freight volumes without a corresponding rise in operational headcount [13].

Joining us today is Mark Xandy, chief economist over at Moody's, and Jim Pollson, former chief investment strategist at Luthold Group and author of Pollson Perspectives. A great read as always on Substack. Morning, guys. >> Morning. >> Good morning.>> Uh Mark, I know you said you wouldn't take a lot of solace in this week's jobs number, but can you take solace in CPI. >> Uh yeah, I mean inflation is still on the high side. I mean uh you know Carl as you know the inflation numbers are biased lower because of ...

Core Viewpoint - S&P Global's fourth quarter earnings report revealed a revenue increase of 9% year-over-year, but the company's stock suffered a significant decline due to investor concerns over AI impacts, leading to a 9.7% drop in share price on the announcement day [1][3]. Financial Performance - Revenue for the fourth quarter reached $3.9 billion, aligning with Wall Street estimates, with the indices business seeing a notable 14% revenue increase [2]. - The ratings division also reported an 8% revenue growth during the quarter [5]. Future Outlook - S&P Global's forecast for 2026 indicates a slowdown in revenue growth, projected between 6.6% and 8.6%, down from 9% in the previous year [3]. Shareholder Returns - The company plans to return approximately 85% of its free cash flow to investors in 2025, with $6.2 billion allocated for shareholder rewards, including $1.2 billion in dividends and $5 billion in share buybacks [3]. - The current share price of $444 is significantly below the average analyst target price of $615, suggesting a potential upside of around 38% [3]. Market Reaction - S&P Global's shares have declined over 23% year-to-date, reflecting broader market anxieties related to AI [3]. - Analysts from JPMorgan characterized the market's reaction as an overreaction, indicating uncertainty about the long-term implications of AI on software infrastructure [5].

Group 1: Market Overview - The start of 2026 has seen significant volatility in software stocks due to investor concerns about AI disrupting their businesses [1] - Despite the downturn in some high-profile stocks, the S&P 500 has managed a gain of about 2% year to date [1] Group 2: Investment Portfolio Insights - Top holdings for the company include Apple and Berkshire Hathaway, which are viewed as strong investments despite not matching market returns so far this year [2] - These investments are seen as a contrast to the speculative hype surrounding AI, providing a balanced portfolio [2] Group 3: Berkshire Hathaway Analysis - Berkshire Hathaway is down about 4% year to date, making it a more attractive buy compared to the beginning of the year [5] - The company has a significant cash position totaling about $378 billion, which is 36% of its total market capitalization, leading to a wait-and-see approach from the market [6] - Shares are trading at about 1.5 times their book value, indicating potential attractiveness for investors [7] - The conglomerate owns high-quality assets, including a diverse range of businesses and significant equity stakes in companies like American Express and Coca-Cola [7] - While earnings from the insurance business are cyclical, the company is well-positioned for long-term growth in earnings and book value [8]

Core Viewpoint - Berkshire Hathaway remains a compelling investment despite Warren Buffett stepping down as CEO, with quarterly data still reflecting his influence until the first-quarter results of 2026 are released [1] Group 1: Company Performance - Berkshire Hathaway missed significant gains by selling its position in Nu Holdings at the end of 2024, which has since outperformed other stocks in its portfolio [2][3] - Nu Holdings has shown remarkable stock performance, surpassing the top 10 stocks in Berkshire Hathaway's portfolio in 2025 [3] Group 2: Market Position and Growth - Nu Holdings is an all-digital bank operating in Brazil, Mexico, and Colombia, becoming the largest financial institution in Brazil by customer count, with 61% of the adult population on its platform [6] - The company has a growing presence in Mexico and Colombia, with 14% and 10% of the populations, respectively, using its services [6] - Nu is actively monetizing its Brazilian user base and plans to expand into new markets, including the U.S., with new offices opening in Miami, Palo Alto, and Washington, D.C. [8] Group 3: Stock Information - Nu Holdings has a current market capitalization of $85 billion, with a stock price of $17.75, reflecting a recent change of -5.38% [7]

Israel’s credit outlook was raised to stable from negative by Moody’s, which cited diminished geopolitical risks following the ceasefire with Hamas last October https://t.co/4hNKktbZUw ...