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  "documentTitle": "MSCI Inc. (MSCI)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-01-17 00:00:00",
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  "notes": "The slide uses a red arrow callout to emphasize the negative trend in the most recent four quarters.",
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      "kind": "callout",
      "text": "MSCI says that Retention Rate is an important metric because subscription cancellations decrease their Run Rate and ultimately its future operating revenue over time. We observe that MSCI has experienced negative year-over-year declines in the Index segment's Retention Rate in the past four quarters.",
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      "text": "Four Consecutive Quarters In Decline",
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      "text": "Retention Rate: 96.2%",
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      "text": "Source: MSCI and Spruce Point analysis",
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      "text": "MSCI Index Segment Retention Rate table showing 2021, Q1'22-Q3'23 data points for Retention Rate and YoY Change.",
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      "kind": "title",
      "text": "Index Segment Client Retention Rate Is Down Four Quarters In A Row",
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