Commentary on the economy, the markets, and business

There's no business like bond-rating business

Here are the operating margins (operating profits divided by revenue) of Moody's Corp. Inc. over the past five years:

2007 50%
2006 62%
2005 54%
2004 55%
2003 53%

Anybody know of any other business with margins like that? I checked a couple of what I thought were likely suspects, Google and Qualcomm, and they were nowhere near.

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