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  "documentTitle": "MSCI Inc. (MSCI)",
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      "text": "MSCI notably added Bloomberg and Moody's to its competitor list in its recent 10-K filing. Meanwhile, both the CFO and COO have downplayed any greater competition. We believe this undermines their credibility.",
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      "text": "So probably the cleanest way to answer this is just to say we have the premium price offering out there. Generally, we are the most expensive tool, and that's a reflection of the quality and the capability that we have relative to competitors. And you can see the growth rate that we've been delivering, which is generally at or above the competitors that are aware of and publicly report the data. So it's not that we're losing market share. And you can see the retention rates that we've seen to this point, which have been remarkable. So we're not seeing a lot of clients at all cancel and move to competitors. — CFO, JPMorgan Conf. Nov 2022; \"But we did outperform. So I think in terms of ESG, I don't think many dramatic differences, Index, similarly. So I don't think -- I think the competitive landscape is fairly stable.\" — COO, Barclays Conf. May 9, 2023",
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      "text": "Source: 2021 vs. 2022 10-K",
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      "text": "Management Is Dismissive Of Any Changes In Competitive Dynamics",
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