I have a confession. As an investor, I don’t like surprises.
S&P Global (SPGI) has been around for 150 years. This company is best-known as the keeper of the Standard and Poor’s Indexes. It collects, packages and sells data that has become indispensable to the financial services industry.
This has been a solid, predictable business. Next up, the company plans to leverage its stalwart reputation for the future of data. And to the glee of its shareholders, S&P Global is likely to win this bet.
The company has been here before …
In 1888, James McGraw purchased the American Journal of Railway Appliances. Twenty-one years later, he and John Hill, a 51-year-old Vermont publisher of technical journals, merged their operations.
The McGraw-Hill Book Co., the new business, would quickly grow to become one of the leading publishers in the country.
It was an age of invention — jumpstarted by the buzzing of electricity and enterprising young men and women. It was a good time to own printing presses and distribution networks.