Verisk Analytics, Inc.

“Verisk is among the most defensible businesses in US equities — a regulatory data monopoly with irreplicable assets, expanding FCF margins, and 22-25% ROIC, currently trading at 16.5x EV/EBITDA and 20.6x forward earnings near a 52-week low driven entirely by multiple compression rather than any deterioration in fundamentals; the reinvestment scale constraint limits upside to a 2-3x compounder over a decade, but the risk of permanent capital impairment is genuinely negligible, making this a high-conviction long-term BUY.”