| Account | Shares | Price | Value | % of acct | Cost/sh | Gain $ | Gain % | Target |
|---|---|---|---|---|---|---|---|---|
| 401K | 9 | $189.09 | $1,702 | 0.07% | $230.95 | $-377 | -18.1% | — |
| ROTH | 7 | $189.09 | $1,324 | 0.52% | $233.19 | $-309 | -18.9% | — |
| Total | 16 | $3,025 | 0.07% | $-685 | -18.5% | — |
In short: Cited as evidence, not a stance — FHFA's Pulte "also criticized the credit bureaus for price gouging," and "Equifax and TransUnion are down 25% and 15%" YTD. "Equifax is down more than TransUnion" because it "has a bigger percentage of its profits from mortgage scoring." No position stated.
5:39He also criticized the credit bureaus for price gouging as well. His criticisms have been very effective from a stock perspective. Year-to date, FICO is down 43% and Equifax and TransUnion are down 25% and 15% respectively. The reason why Equifax is down more than TransUnion is that Equifax has a bigger percentage of its profits from mortgage scoring than does TransUnion.
In short: Sold; "I also think will do well."
In short: Sold (to fund Meta); it "went down big time" afterward. Still rooted for: "I genuinely believe I'm bullish on them."
In short: Carlson: the precedent for the privacy bear case — people opt in to share employment data, then object once they see it used to price jobs; the regulatory-backlash risk he puts to the guest.
In short: The other casualty of the score-vs-distributor war: "both companies like Equifax and FICO have gone down substantially as they battle it out and become more competitive." A mutually value-destroying fight, not a share shift he wants to own either side of.
Equifax is one of the credit bureaus that distributes FICO's scores — and now competes with FICO directly. Carlson's point is that this fight has no winner so far: "both companies like Equifax and FICO have gone down substantially as they battle it out." When a former partnership turns competitive, both sides typically spend more and earn less, which is why he isn't interested in either side of the trade.
12:37And then they started to butt heads. And now there is a full-on war that is hurting both of these companies. Both companies like Equifax and FICO have gone down substantially as they battle it out and become more competitive. And investors are not fully convinced that FICO deserves the premium that it once had. That FICO is as predictable as it once was.
In short: Its biggest business, Workforce Solutions (EWS), is "a software business" that bears argue "is bound to lose share to AI-powered verification services" — so "because of the SaaSpocalypse, there is no room for error." Q2 government EWS revenue fell mid-single digits vs flat guidance; Q3 and implied Q4 EPS guides are 3% below street. Management blamed state budgets, "but in an environment where the SaaSpocalypse narrative still reigns supreme, no one is interested in excuses." Stock −4% on top of −17% YTD / −30% over a year.
Equifax is one of the three credit bureaus, but its biggest division isn't credit scores — it's Workforce Solutions, which lets lenders, employers and government agencies verify someone's income and employment automatically. That is effectively a software subscription business, which drops it straight into the "SaaSpocalypse" debate: bears think AI-powered verification tools will take its share.
When a stock carries that narrative, "there is no room for error" — and Equifax erred. Government revenue in that division fell mid-single digits when management had guided to flat, and the next two quarters' earnings guidance came in 3% below what analysts expected. Management blamed state budget pressure, which may well be true, but "no one is interested in excuses" while the narrative rules. The stock fell another 4% on top of a 17% year-to-date decline.
5:16Bears have been arguing that EWS is bound to lose share to AI-powered verification services. Now, because of the SASpocalypse, there is no room for error. Unfortunately for Equifax, Q2 government revenue growth was down mid-single digits, and was below both management guidance of flat year-over-year and below street expectations.
In short: Named as one of the three credit bureaus FICO licenses its algorithm to — "Equifax, Experian, and TransUnion" — i.e. FICO's customer, not a pick. No view.
In short: Named as one of the three "major credit bureaus" FICO licenses its scoring algorithm to. No stance.
In short: Named as one of the three credit bureaus FICO licenses its algorithm to. No stance — the bureaus are FICO's distribution channel and, through their VantageScore joint venture, also its challenger.
In short: UPGRADED Sell → Hold — "one of the three major U.S. credit reporting agencies." Moved in the same breath as FICO, i.e. the whole US credit-data complex is re-rated one notch at once rather than name by name.
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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.