TIP857: S&P Global, Novo, Deckers Brands w/ Stig Brodersen, Tobias Carlisle, & Hari Ramachandra

Value investors evaluate three stocks currently falling out of market favor, focusing on intrinsic value and long-term potential. Novo Nordisk trades at 12x forward earnings, with the market pricing in competitive pressure from Eli Lilly’s weight-loss drugs and upcoming patent expirations, though success with pipeline candidates like Amicritin could drive significant upside. S&P Global remains a high-quality, wide-moat business with dominant positions in ratings and indices, currently valued at 23x P/E; while AI poses a potential threat to its market intelligence segment, the company’s cash-generative model offers strong downside protection. Deckers Outdoor, owner of HOKA and UGG, trades at 11x earnings with a debt-free balance sheet and aggressive share buybacks. Despite cyclical consumer spending pressures and growth deceleration, the company’s loyal customer base and capital allocation strategy provide a compelling risk-reward profile for value-oriented investors.