AI Analysis

Log in to generate an AI summary for this stock.

Log in to generate a MOAT report for this stock.

Log in to generate an earnings report for this stock.

Log in to generate an operating leverage report for this stock.

Log in to generate a management report for this stock.

Log in to generate a valuation report for this stock.

SiriusPoint Ltd.

$24.62 +$3.55 (+16.85%)
NYSE · 14 Sep 2026 20:00 UTC
Previous Close
$24.2
Day Range
$24.42$24.69
Year Range
$17.17$26.48
Market Cap
2.86B
AVG Volume
739.73K
Trailing/Forward PE
5.93/8.83
PEG ratio
0.68
Dividend Yield
-
Next Earnings Date
2026-10-29
Primary Exchange
New York Stock ExchangeUS
Revenue (USD)
0250M500M750M1B24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Revenue (USD) by quarter
PeriodRevenue (USD)
26 Q2744.1M
26 Q1774.6M
25 Q4973.7M
25 Q3753.5M
25 Q2731.5M
25 Q1729.4M
24 Q4625.7M
24 Q3559.2M
24 Q2739.7M
24 Q1688.9M
Net Income (USD)
-100M0100M200M300M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Net Income (USD) by quarter
PeriodNet Income (USD)
26 Q268.6M
26 Q1102.2M
25 Q4244M
25 Q390.8M
25 Q263.2M
25 Q161.6M
24 Q4-17.3M
24 Q38.5M
24 Q2113.9M
24 Q194.8M
Operating Income (USD)
-100M0100M200M300M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Operating Income (USD) by quarter
PeriodOperating Income (USD)
26 Q284.3M
26 Q1121.5M
25 Q4280.2M
25 Q3110.9M
25 Q274.9M
25 Q175.2M
24 Q4-12.6M
24 Q311.1M
24 Q2129M
24 Q1105.3M
EBITDA (USD)
0100M200M300M400M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT EBITDA (USD) by quarter
PeriodEBITDA (USD)
26 Q2105.4M
26 Q1140.9M
25 Q4302.1M
25 Q3134.7M
25 Q298.8M
25 Q196.3M
24 Q410M
24 Q327.9M
24 Q2147.7M
24 Q1129M
Cash Flows (USD)
-200M-100M0100M200M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Cash Flows (USD) by quarter
PeriodCash Flows (USD)
26 Q2-27.2M
26 Q1141.7M
25 Q4-26.4M
25 Q3155.1M
25 Q262.1M
25 Q1-88.9M
24 Q4107.7M
24 Q358.1M
24 Q2-152.3M
24 Q158.8M
EPS (USD)
-101224 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT EPS (USD) by quarter
PeriodEPS (USD)
26 Q20.58
26 Q10.73
25 Q41.97
25 Q30.73
25 Q20.5
25 Q10.45
24 Q4-0.11
24 Q30.03
24 Q20.57
24 Q10.49
Expenses (USD)
020M40M60M80MSG&ACapex24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Expenses (USD) by quarter
PeriodExpenses (USD)
26 Q20
26 Q10
25 Q40
25 Q30
25 Q270.9M
25 Q160.6M
24 Q458.1M
24 Q30
24 Q20
24 Q156M
Cash & Debt (USD)
02B4B6BCashLong Term DebtShort Term Debt24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Cash & Debt (USD) by quarter
PeriodCash & Debt (USD)
26 Q25.9B
26 Q13.24B
25 Q43.35B
25 Q33.4B
25 Q23.61B
25 Q13.66B
24 Q43.81B
24 Q33.42B
24 Q23.52B
24 Q13.86B
Debt ratios
-15-10-5024 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Debt ratios by quarter
PeriodDebt ratios
26 Q2-7.62
26 Q1-3.79
25 Q4-4.22
25 Q3-7.99
25 Q2-12.59
25 Q1-10.62
24 Q4-10.07
24 Q3-8.48
24 Q2-7.19
24 Q1-8.99
Margins
0%20%40%60%80%24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Margins by quarter
PeriodMargins
26 Q251.86%
26 Q153.15%
25 Q461.77%
25 Q331.96%
25 Q229.8%
25 Q127.13%
24 Q419.5%
24 Q322.21%
24 Q234.53%
24 Q132.88%
Return on Capital
-5%0%5%10%24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Return on Capital by quarter
PeriodReturn on Capital
26 Q23.01%
26 Q14.44%
25 Q49.87%
25 Q34.11%
25 Q23%
25 Q13.04%
24 Q4-0.89%
24 Q30.32%
24 Q24.21%
24 Q13.62%
Shares Outstanding
050M100M150M200M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Shares Outstanding by quarter
PeriodShares Outstanding
26 Q2116.73M
26 Q1116.79M
25 Q4116.79M
25 Q3116.73M
25 Q2161.38M
25 Q1161.38M
24 Q4161.38M
24 Q3165.66M
24 Q2170.17M
24 Q1168.93M
Dividends (USD)
00.511.5Aug 21
SPNT Dividends (USD) by quarter
PeriodDividends (USD)
Aug 210.5
Employee Count
05001K1.5K2015201620172018201920202021202320242025
SPNT Employee Count by quarter
PeriodEmployee Count
20251.1K
20241.07K
20231.06K
20211.03K
202043
201935
201831
201725
201626
201526
Book Value Per Share (USD)
010203024 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Book Value Per Share (USD) by quarter
PeriodBook Value Per Share (USD)
26 Q219.5
26 Q119.72
25 Q421.16
25 Q318.94
25 Q213.06
25 Q112.56
24 Q412.01
24 Q316.28
24 Q215.9
24 Q115.51
Total Assets (USD)
05B10B15B24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
SPNT Total Assets (USD) by quarter
PeriodTotal Assets (USD)
26 Q212.65B
26 Q112.48B
25 Q412.57B
25 Q312.46B
25 Q212.36B
25 Q112.28B
24 Q412.52B
24 Q312.68B
24 Q212.76B
24 Q113.14B
PE Ratio
0102030med 11.45Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
SPNT PE Ratio by quarter
PeriodPE Ratio
Sep 265.68
Sep 265.59
Sep 265.65
Aug 265.58
Aug 265.46
Aug 265.48
Aug 265.32
Jul 265.46
Jul 265.92
Jul 265.81
Jul 265.76
Jul 265.75
Jun 265.57
Jun 265.31
Jun 265.46
Jun 265.07
May 264.98
May 265.44
May 265.36
May 265.48
May 265.91
Apr 266.04
Apr 265.92
Apr 265.8
Apr 265.64
Mar 265.29
Mar 265.18
Mar 265.17
Mar 265.31
Feb 265.37
Feb 2612.63
Feb 2612.07
Feb 2612.24
Jan 2612.01
Jan 2611.37
Jan 2611.77
Jan 2611.84
Jan 2612.4
Dec 2513.13
Dec 2513.01
Dec 2513.21
Dec 2512.65
Nov 2512.24
Nov 2512.01
Nov 2511.97
Nov 2511.67
Oct 2510.71
Oct 2525.54
Oct 2524.54
Oct 2525.67
Oct 2525.86
Sep 2525.49
Sep 2524.61
Sep 2526.49
Sep 2526.11
Aug 2526.04
Aug 2526.02
Aug 2525.43
Aug 2525.32
Aug 2518.95
Jul 2519.16
Jul 2518.39
Jul 2517.81
Jul 2519.17
Jun 2519.75
Jun 2518.68
Jun 2518.78
Jun 2518.76
May 2518.96
May 2518.57
May 2518.63
May 2518.65
May 2514.49
Apr 2513.35
Apr 2513.48
Apr 2512.95
Apr 2512.96
Mar 2513.77
Mar 2512.72
Mar 2511.92
Mar 2511.54
Feb 2512.38
Feb 2511.3
Feb 257.46
Feb 257.5
Jan 257.66
Jan 257.65
Jan 257.89
Jan 257.59
Jan 258.26
Dec 247.49
Dec 247.59
Dec 248.19
Dec 248.34
Nov 248.12
Nov 248.2
Nov 247.89
Nov 247.44
Nov 247.03
Oct 246.24
Free Cash Flow Yield
-5%0%5%10%15%med 6.94%Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
SPNT Free Cash Flow Yield by quarter
PeriodFree Cash Flow Yield
Sep 268.46%
Sep 268.61%
Sep 268.51%
Aug 268.62%
Aug 268.82%
Aug 268.78%
Aug 269.05%
Jul 268.81%
Jul 2611.23%
Jul 2611.43%
Jul 2611.55%
Jul 2611.56%
Jun 2611.94%
Jun 2612.51%
Jun 2612.18%
Jun 2613.11%
May 2613.34%
May 2612.21%
May 2612.4%
May 2612.14%
May 263.75%
Apr 263.67%
Apr 263.75%
Apr 263.82%
Apr 263.93%
Mar 264.19%
Mar 264.28%
Mar 264.29%
Mar 264.17%
Feb 264.13%
Feb 269.43%
Feb 269.86%
Feb 269.72%
Jan 269.91%
Jan 2610.46%
Jan 2610.11%
Jan 2610.05%
Jan 269.6%
Dec 259.06%
Dec 259.15%
Dec 259.01%
Dec 259.41%
Nov 259.72%
Nov 259.91%
Nov 259.95%
Nov 2510.2%
Oct 2511.11%
Oct 254.69%
Oct 254.88%
Oct 254.67%
Oct 254.63%
Sep 254.7%
Sep 254.87%
Sep 254.52%
Sep 254.59%
Aug 254.6%
Aug 254.61%
Aug 254.71%
Aug 254.73%
Aug 25-2.39%
Jul 25-2.36%
Jul 25-2.46%
Jul 25-2.54%
Jul 25-2.36%
Jun 25-2.29%
Jun 25-2.42%
Jun 25-2.41%
Jun 25-2.41%
May 25-2.39%
May 25-2.44%
May 25-2.43%
May 25-2.42%
May 252.5%
Apr 252.71%
Apr 252.68%
Apr 252.79%
Apr 252.79%
Mar 252.63%
Mar 252.84%
Mar 253.04%
Mar 253.14%
Feb 252.92%
Feb 253.2%
Feb 257.58%
Feb 257.54%
Jan 257.38%
Jan 257.39%
Jan 257.17%
Jan 257.45%
Jan 256.84%
Dec 247.56%
Dec 247.46%
Dec 246.91%
Dec 246.78%
Nov 246.97%
Nov 246.9%
Nov 247.17%
Nov 247.6%
Nov 248.05%
Oct 2412.27%
Price to Sales
0.60.811.21.4med 0.9Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
SPNT Price to Sales by quarter
PeriodPrice to Sales
Sep 260.89
Sep 260.87
Sep 260.88
Aug 260.87
Aug 260.85
Aug 260.85
Aug 260.83
Jul 260.85
Jul 260.92
Jul 260.9
Jul 260.89
Jul 260.89
Jun 260.86
Jun 260.82
Jun 260.84
Jun 260.78
May 260.77
May 260.84
May 260.83
May 260.85
May 260.85
Apr 260.87
Apr 260.85
Apr 260.84
Apr 260.81
Mar 260.76
Mar 260.75
Mar 260.75
Mar 260.77
Feb 260.77
Feb 260.88
Feb 260.84
Feb 260.85
Jan 260.84
Jan 260.79
Jan 260.82
Jan 260.83
Jan 260.87
Dec 250.92
Dec 250.91
Dec 250.92
Dec 250.88
Nov 250.85
Nov 250.84
Nov 250.84
Nov 250.81
Oct 250.75
Oct 251.12
Oct 251.08
Oct 251.13
Oct 251.13
Sep 251.12
Sep 251.08
Sep 251.16
Sep 251.14
Aug 251.14
Aug 251.14
Aug 251.11
Aug 251.11
Aug 251.19
Jul 251.2
Jul 251.16
Jul 251.12
Jul 251.2
Jun 251.24
Jun 251.17
Jun 251.18
Jun 251.18
May 251.19
May 251.17
May 251.17
May 251.17
May 251.11
Apr 251.02
Apr 251.03
Apr 250.99
Apr 250.99
Mar 251.05
Mar 250.97
Mar 250.91
Mar 250.88
Feb 250.95
Feb 250.86
Feb 250.9
Feb 250.9
Jan 250.92
Jan 250.92
Jan 250.95
Jan 250.91
Jan 250.99
Dec 240.9
Dec 240.91
Dec 240.99
Dec 241
Nov 240.98
Nov 240.99
Nov 240.95
Nov 240.9
Nov 240.85
Oct 240.83
EV/EBITDA
-4-202med -0.45Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
SPNT EV/EBITDA by quarter
PeriodEV/EBITDA
Sep 26-3.41
Sep 26-3.48
Sep 26-3.43
Aug 26-3.48
Aug 26-3.58
Aug 26-3.56
Aug 26-3.68
Jul 26-3.57
Jul 260.59
Jul 260.51
Jul 260.47
Jul 260.47
Jun 260.33
Jun 260.14
Jun 260.25
Jun 26-0.04
May 26-0.1
May 260.24
May 260.18
May 260.26
May 260.08
Apr 260.17
Apr 260.08
Apr 26-0
Apr 26-0.12
Mar 26-0.37
Mar 26-0.45
Mar 26-0.46
Mar 26-0.36
Feb 26-0.31
Feb 26-0.63
Feb 26-0.95
Feb 26-0.85
Jan 26-0.98
Jan 26-1.36
Jan 26-1.12
Jan 26-1.09
Jan 26-0.76
Dec 25-0.33
Dec 25-0.4
Dec 25-0.28
Dec 25-0.61
Nov 25-0.85
Nov 25-0.99
Nov 25-1.01
Nov 25-1.19
Oct 25-1.74
Oct 250.12
Oct 25-0.37
Oct 250.19
Oct 250.28
Sep 250.1
Sep 25-0.34
Sep 250.6
Sep 250.41
Aug 250.37
Aug 250.36
Aug 250.07
Aug 250.01
Aug 250.59
Jul 250.71
Jul 250.26
Jul 25-0.08
Jul 250.72
Jun 251.06
Jun 250.43
Jun 250.49
Jun 250.48
May 250.6
May 250.36
May 250.4
May 250.41
May 25-0.86
Apr 25-1.58
Apr 25-1.5
Apr 25-1.84
Apr 25-1.83
Mar 25-1.31
Mar 25-1.98
Mar 25-2.49
Mar 25-2.74
Feb 25-2.2
Feb 25-2.88
Feb 25-1.27
Feb 25-1.23
Jan 25-1.07
Jan 25-1.08
Jan 25-0.85
Jan 25-1.14
Jan 25-0.49
Dec 24-1.24
Dec 24-1.15
Dec 24-0.57
Dec 24-0.41
Nov 24-0.63
Nov 24-0.55
Nov 24-0.85
Nov 24-1.29
Nov 24-1.69
Oct 24-1.45
Price/Operating Cashflow
01020304050med 11.78Sep 24Jan 25Apr 25Nov 25Feb 26Jun 26Sep 26
SPNT Price/Operating Cashflow by quarter
PeriodPrice/Operating Cashflow
Sep 2611.82
Sep 2611.62
Sep 2611.75
Aug 2611.61
Aug 2611.34
Aug 2611.39
Aug 2611.05
Jul 2611.35
Jul 268.9
Jul 268.75
Jul 268.66
Jul 268.65
Jun 268.38
Jun 267.99
Jun 268.21
Jun 267.63
May 267.5
May 268.19
May 268.06
May 268.24
May 2626.65
Apr 2627.23
Apr 2626.68
Apr 2626.17
Apr 2625.43
Mar 2623.85
Mar 2623.36
Mar 2623.33
Mar 2623.95
Feb 2624.23
Feb 2610.61
Feb 2610.14
Feb 2610.28
Jan 2610.09
Jan 269.56
Jan 269.89
Jan 269.95
Jan 2610.42
Dec 2511.03
Dec 2510.93
Dec 2511.1
Dec 2510.63
Nov 2510.29
Nov 2510.09
Nov 2510.06
Nov 259.8
Oct 259
Oct 2521.32
Oct 2520.48
Oct 2521.42
Oct 2521.58
Sep 2521.27
Sep 2520.54
Sep 2522.11
Sep 2521.79
Aug 2521.73
Aug 2521.71
Aug 2521.22
Aug 2521.13
May 2540.07
Apr 2536.92
Apr 2537.28
Apr 2535.8
Apr 2535.82
Mar 2538.08
Mar 2535.18
Mar 2532.95
Mar 2531.9
Feb 2534.24
Feb 2531.25
Feb 2513.2
Feb 2513.26
Jan 2513.55
Jan 2513.53
Jan 2513.95
Jan 2513.42
Jan 2514.61
Dec 2413.23
Dec 2413.41
Dec 2414.47
Dec 2414.75
Nov 2414.35
Nov 2414.5
Nov 2413.95
Nov 2413.15
Nov 2412.42
Oct 248.15
Oct 248.45
Oct 248.23
Oct 248.43
Sep 248.73
Sep 248.61
Sep 248.51
Sep 248.57
Aug 249.06
Aug 249.03
Aug 248.89
Aug 248.8
Aug 248.83
Jul 244.49
Price to Book
0.7511.251.51.75med 1.18Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
SPNT Price to Book by quarter
PeriodPrice to Book
Sep 261.26
Sep 261.24
Sep 261.26
Aug 261.24
Aug 261.21
Aug 261.22
Aug 261.18
Jul 261.21
Jul 261.29
Jul 261.26
Jul 261.25
Jul 261.25
Jun 261.21
Jun 261.15
Jun 261.19
Jun 261.1
May 261.08
May 261.18
May 261.16
May 261.19
May 261.1
Apr 261.12
Apr 261.1
Apr 261.08
Apr 261.05
Mar 260.98
Mar 260.96
Mar 260.96
Mar 260.99
Feb 261
Feb 261.13
Feb 261.08
Feb 261.1
Jan 261.08
Jan 261.02
Jan 261.06
Jan 261.06
Jan 261.11
Dec 251.18
Dec 251.17
Dec 251.19
Dec 251.13
Nov 251.1
Nov 251.08
Nov 251.07
Nov 251.05
Oct 250.96
Oct 251.41
Oct 251.35
Oct 251.41
Oct 251.42
Sep 251.4
Sep 251.36
Sep 251.46
Sep 251.44
Aug 251.43
Aug 251.43
Aug 251.4
Aug 251.39
Aug 251.56
Jul 251.58
Jul 251.51
Jul 251.47
Jul 251.58
Jun 251.62
Jun 251.54
Jun 251.54
Jun 251.54
May 251.56
May 251.53
May 251.53
May 251.53
May 251.49
Apr 251.38
Apr 251.39
Apr 251.34
Apr 251.34
Mar 251.42
Mar 251.31
Mar 251.23
Mar 251.19
Feb 251.28
Feb 251.17
Feb 250.87
Feb 250.88
Jan 250.89
Jan 250.89
Jan 250.92
Jan 250.89
Jan 250.96
Dec 240.87
Dec 240.89
Dec 240.96
Dec 240.97
Nov 240.95
Nov 240.96
Nov 240.92
Nov 240.87
Nov 240.82
Oct 240.85
SiriusPoint Ltd.
SPNT
Stockpicker

Video analysis: SPNT

All videos

No video analysis for this stock yet. Request one from our team.

Your email is used only to follow up on this request. We do not add you to marketing lists. Privacy Policy

News: SPNT

Is SiriusPoint (SPNT) Stock Undervalued Right Now?

zacks.com · 26 Aug 2026

Is SiriusPoint (SPNT) Stock Undervalued Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

SiriusPoint Ltd. $SPNT Shares Sold by Bank of America Corp DE

defenseworld.net · 26 Aug 2026

SiriusPoint Ltd. $SPNT Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its position in SiriusPoint Ltd. (NYSE: SPNT) by 64.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,928 shares of the company's stock after selling 628,995 shares during the period. Bank of America

Should Value Investors Buy SiriusPoint (SPNT) Stock?

zacks.com · 3 Aug 2026

Should Value Investors Buy SiriusPoint (SPNT) Stock?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

SiriusPoint Q2 Earnings Call Highlights

marketbeat.com · 31 Jul 2026

SiriusPoint Q2 Earnings Call Highlights

SiriusPoint NYSE: SPNT reported second-quarter underwriting profitability and book value growth as the specialty insurer continued to shift capital toward insurance lines it views as offering stronger risk-adjusted returns.

SiriusPoint Ltd. (SPNT) Q2 2026 Earnings Call Transcript

seekingalpha.com · 30 Jul 2026

SiriusPoint Ltd. (SPNT) Q2 2026 Earnings Call Transcript

SiriusPoint Ltd. (SPNT) Q2 2026 Earnings Call Transcript

SiriusPoint (SPNT) Q2 Earnings Surpass Estimates

zacks.com · 29 Jul 2026

SiriusPoint (SPNT) Q2 Earnings Surpass Estimates

SiriusPoint (SPNT) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.66 per share a year ago.

SiriusPoint Reports Second Quarter 2026 Net Income of $69m, Return on Equity of 12.0% and Operating Return on Equity of 13.8%

globenewswire.com · 29 Jul 2026

SiriusPoint Reports Second Quarter 2026 Net Income of $69m, Return on Equity of 12.0% and Operating Return on Equity of 13.8%

HAMILTON, Bermuda, July 29, 2026 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT), a specialty underwriter, today announced results for its second quarter ended June 30, 2026.

SiriusPoint Announces Date for Second Quarter 2026 Earnings Release

globenewswire.com · 24 Jul 2026

SiriusPoint Announces Date for Second Quarter 2026 Earnings Release

HAMILTON, Bermuda, July 24, 2026 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (NYSE: SPNT) (“SiriusPoint” or the “Company”) today announced that it is planning to release its second quarter 2026 financial results after the market close on Wednesday, July 29, 2026. The Company will also hold a conference call, including a question-and-answer session, to discuss its financial results at 10:30 am (Eastern Time) on Thursday, July 30, 2026.

Similar companies

Disclaimer: The historical data presented on this platform is provided by Financial Modeling Prep. Stock Picker is a platform for informational purposes only and does not provide financial advice. Users are encouraged to conduct their own research and consult with a qualified financial advisor before making investment decisions.