“I Can't Believe You Can Buy These Mega Cap Stocks at This Price”
SPGI is a high-quality business but currently overvalued; wait for a price near $300 to buy.
So, let's start with the best business of the three, S&P Global, with the ticker symbol SPGI. This company runs the largest credit rating agency on the planet, and it owns the S&P 500 index itself.
Now, the stock is down about 12% this year, and most people see that and think that's been crushed. But, there is a massive detail almost everyone is missing. Back on July 1st, S&P spun off an entire division and handed it directly to shareholders as a separate stock.
So, a big piece of that so-called drop is not lost money. It's value that was literally distributed to the people who owned it. What is left behind is a leaner, cleaner, insanely profitable company now trading at a lower price.