In short: Same AI-disruption fallen-angel group — "hit really hard," a good dividend grower, "an area of real interest right now." No position stated.
FactSet sells financial data and analytics terminals to investment firms. Like Paychex, it has been sold on the fear that AI tools will replace paid data subscriptions. D'Agnes sees it as a good dividend grower caught in that fear, and the group interests him.
17:32— Mhm. — So we're seeing that too. Certainly within software, within business services, names like Paychecks and Faxet and Thompson Reuters have all been hit really hard. Some pretty good dividend growers in there. So that's an area of real interest right now.
In short: "Which we don't like versus S&P and Moody's" — an underperforming data peer to reduce/exit ahead of its Wednesday print.
Full passage: premium transcript (PDF).
In short: Grouped with SPGI/MCO/MSCI as a data/distribution name that won't commoditize — a good business, but he chose SPGI & MCO instead.
18:01That's when phase one and phase 2 come to a conclusion. We also have companies that I believe still have the distribution, the longevity, the customer lock-in, the unique data sets, all the stuff that will make these companies not commoditize. That's S&P Global, Moody's, FactSet, MSCI. We also have companies that are at some risk in some aspects of AI, but overall they have a lot of non-AI aspects, and I'd put Uber and DoorDash in that category.
In short: The worst of the four named casualties: −31% in a month, and the deepest single-month fall recorded anywhere in this archive. A financial-data terminal business — the "data providers" category Slegers names as one of the three sectors "Mr. Market is moody about." No thesis, valuation or stance is offered; it appears nowhere else in the archive.
FactSet sells the financial-data terminals and analytics that investment firms use to research companies — a subscription business with the kind of high margins and recurring revenue Slegers usually likes. It appears here for one reason: it fell 31% in a single month, the worst decline named anywhere in this archive.
The cause given is the "SaaSpocalypse" — Anthropic's release of Claude Cowork, a tool that automates legal, sales and marketing work, which led investors to conclude that AI agents will replace software licences generally. Slegers offers no view on FactSet itself; it is cited as evidence of how violently the market repriced data and software businesses in early 2026, and it does not appear again in the archive.
In short: Named as the incumbent he is trying to displace, not as a stock. Chapter three of his company is "can I build AI native FactSet better, faster, cheaper across the board"; the "Bloomberg killer products… have not actually been able to take material market share away or compete with the FactSets of the world" because they license rather than own the data. His description of their production process — Joe takes the income statement, Sally the cash flow, "and by the way, we have 200 other companies that just reported" — is the process he says AI removes. No investment view is expressed either way.
22:17Explain it to us why it's so crucial, so important, and why it gives you a huge advantage. — I think on the surface that goes overlooked a little bit unless you're in the weeds or close to us on this stuff. But historically, us included, many of the — what I'll call air quotes right now for people who are listening, I am doing air quotes — Bloomberg killer products have not actually been able to take material market share away or compete with the FactSets of the world.
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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.