CME Group (CME) operates the world's largest derivatives marketplace — interest rates, agriculture, energy, metals, and FX. We analyze ADV trends, clearing moat, BrokerTec/EBS, competitive dynamics with ICE, and the 2026 investment case.
Moody's Corporation (MCO) holds NRSRO status and earns through credit ratings (MIS) and analytics SaaS (Moody's Analytics). We analyze the duopoly moat, rate cycle sensitivity, ESG data expansion, and MCO's 2026 investment case.
Progressive Corporation (PGR) is a top-3 US auto insurer with Snapshot telematics, dual direct-agency channels, and a hard market track record of outperforming peers on combined ratio. We analyze the 2026 setup for PGR investors.