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  "documentTitle": "MSCI Inc. (MSCI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-01-17 00:00:00",
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  "notes": "Uses Wayback Machine screenshots as primary evidence to highlight the '1,000 clients' claim consistency.",
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      "text": "Using the Wayback Machine, we find troubles with key performance indicators reported by Burgiss. Burgiss consistently referenced serving over 1,000 clients since 2019. However, now MSCI says it has approximately 1,000 clients. This suggests that the Company's client count has been stagnant to potentially down over four years.",
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      "text": "Client Count: 2021",
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      "text": "Client Count: 2023",
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      "text": "client count: 1,000",
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      "text": "Using the Wayback Machine, we find troubles with key performance indicators reported by Burgiss. Burgiss consistently referenced serving over 1,000 clients since 2019. However, now MSCI says it has approximately 1,000 clients. This suggests that the Company's client count has been stagnant to potentially down over four years.",
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      "text": "Burgiss' roughly 1,000 clients will be a tremendous addition to MSCI's extensive list of clients across endowments and foundations, pensions, insurance, family offices, and other private asset investors.",
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      "kind": "quote",
      "text": "Burgiss' roughly 1,000 clients will be a tremendous addition to MSCI's extensive list of clients across endowments and foundations, pensions, insurance, family offices, and other private asset investors. — MSCI Conference Call to Discuss Burgiss Acquisition",
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      "kind": "source-note",
      "text": "Sources: Client Count 2019, Client Count 2021, Client Count 2022, Client Count 2023 and MSCI Conference Call to Discuss Burgiss Acquisition",
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      "text": "Evidence Suggests Burgiss Has Experienced Limited/No Client Growth",
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