Podcasts about morningstar investment conference

On episode 407 of Animal Spirits, Michael Batnick and Ben Carlson discuss the chaos surrounding tariffs, Dan Ives getting cautious, possible affects on the economy, fake headlines moving markets, cabanas are getting out of control, the White Lotus finale, and much more! This episode is sponsored by Betterment Advisor solutions and Morningtstar Investment Conference. Grow your RIA your way at: betterment.com/advisors  Don't miss Animal Spirits at the Morningstar Investment Conference in Chicago on June 25 and 26. Learn more at: morningstar.com/business/events/morningstar-investment-conference?refid=animalspirits  Sign up for The Compound newsletter and never miss out: thecompoundnews.com/subscribe Find complete show notes on our blogs: Ben Carlson's A Wealth of Common Sense Michael Batnick's The Irrelevant Investor Feel free to shoot us an email at animalspirits@thecompoundnews.com with any feedback, questions, recommendations, or ideas for future topics of conversation.   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Sarah Hansen, Morningstar Inc. senior markets reporter, discusses the market volatility in the first quarter of 2025 and the portfolio strategy that paid off for investors.What's the Difference Between the Stock Market and the Economy? How Stock Market Trends in 2025 Have Shifted From Last Year Worries About Changes Fanning Market Volatility  How Tariffs Could Impact Growth, Inflation, and Consumer Prices Market Volatility Sends Investors Rushing to Gold What Are the Risks of a Recession in 2025? Why Portfolio Diversification Is a Winning Strategy During Market VolatilityWhat's next is now at the Morningstar Investment Conference. Register now to get to the source for cutting-edge research, expert insights, and thorough analysis. Click here to register.  Read about topics from this episode.  13 Charts on Q1's Dramatic Rotation in StocksTrump Tariff Selloff: How Long-Term Investors Can Best Weather the StormTariffs and the Markets: What Investors Need to KnowQ1's Biggest Lesson for Investors: Diversification WorksUS Stocks Fall Sharply as Recession Fears Build on Tariff WorriesTariffs Are a Self-Inflicted Economic CatastropheHow Caution and Contrarianism Paid Off for Investors During Q1What We've Learned From 150 Years of Stock Market CrashesInvestors Flock to Ultrashort Bond and Gold ETFs Amid Market Uncertainty What to watch from Morningstar.Does It Pay to Copy Congress' Stock Trades?Can Healthcare Stocks Keep Outperforming the Market?Worried About a Market Sell-Off? These 10 Funds Reduce Portfolio RiskGray Divorce: How to Avoid Triggering a Costly Tax Bill Read what our team is writing:Sarah HansenIvanna Hampton Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/

Zach Evens, a passive strategies analyst for Morningstar Research Services, discusses two ETFs that use data from Unusual Whales to track congressional stock trades. He explains why investors might be drawn to these funds and the potential risks that they face.Key Takeaways:Why Investors May Want to Follow Congressional Stock TradesAre Members of Congress Good at Picking Stocks?The Firms Behind the ETFs: Subversive Capital and Unusual WhalesLimitations of the Data on Congressional Stock TradesHow Democrats and Republicans Invest DifferentlyBoth the Democratic and Republican ETFs Favor Tech StocksHow Outsize Tech Exposure Has Affected the Performance of These ETFsWhy Investors Face Concentration Risk With Thematic Funds Like Congressional ETFsWhy the ‘Black Box' of Congress' Investing Strategy Is Risky for InvestorsKey Takeaways on Investing in Congressional ETFs What's next is now at the Morningstar Investment Conference. Register now to get to the source for cutting-edge research, expert insights, and thorough analysis. Click here to register Read about topics from this episode.  The 2 ETFs That Track Congressional Stock TradesMorningstar's Guide to ETF InvestingAn Investor's Guide to the Next Trump AdministrationThe Big Shortfall: Understanding the gap in thematic fundsThe Best Tech Stocks to BuyAre Stock Investors in for Another Tech Wreck?What Trump's Trade Wars Could Mean for the Global Economy and Markets6 ETF Investing Predictions for 2025 What to watch from Morningstar.Can Healthcare Stocks Keep Outperforming the Market?Worried About a Market Sell-Off? These 10 Funds Reduce Portfolio Risk Gray Divorce: How to Avoid Triggering a Costly Tax BillWhy the Bond Market Looks Brighter Than It Did in 2022 Read what our team is writing:Zachary EvensMargaret Giles Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/ 

Russ Kinnel, senior principal of ratings for Morningstar Research Services, researched which alternative, equity, and value funds could provide a good hedge during a market sell-off.What is the Downside Capture Ratio? Why Funds with A Low Downside Capture Ratio Make Good Diversifiers How Does a Fund's Maximum Drawdown Line Up with Its Downside Capture?  Why Savers Should Look for Low-Risk Investments Floating-Rate Funds to Help Protect a Bond-Heavy Portfolio Against Interest-Rate Risk Alternative Funds for Diversification  What is Arbitrage? Large-Blend Funds to Help Preserve Capital Defensive Large-Value Funds to Consider A Small-Value Fund That Can Serve as a Good Diversifier  How Can Risk-Averse Investors Get Zero Downside?What's next is now at the Morningstar Investment Conference. Register now to get to the source for cutting-edge research, expert insights, and thorough analysis. Get tickets here. Read about topics from this episode.  Subscribe to the FundInvestor NewsletterHow to Diversify Away From Large-Growth FundsHow to Diversify Your Portfolio to Handle a Market Correction3 Super Risky Low-Risk FundsA Practical Test for Contrarian Investing: When Should You Go Against the Grain? Where to Invest in 2025 and BeyondThe Thrilling 365 Mistakes to Avoid With Your Investment Portfolio in 2025Can Growth Stocks Keep Powering the Market Higher? What to watch from Morningstar. Gray Divorce: How to Avoid Triggering a Costly Tax BillWhy the Bond Market Looks Brighter Than It Did in 2022Where to Find Bargain Stocks in an Expensive Market These 4 Dividend ETFs Strike the Right Balance for Income Investors Read what our team is writing:Russel KinnelIvanna Hampton Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/

David Harrell, editor of Morningstar's StockInvestor newsletter, investigated stock valuation trends from a watchlist with 120 names across the market. He reveals which stocks are relative bargains. The Evolution of the Morningstar Style BoxWhat Is the Value-Growth Score for Stocks?Why Investors Should Look Deeper Than Overall Market TrendsInvestigating Stock Valuation Trends on the Tortoise and Hare WatchlistSmall-Cap Stock FindingsAre There Any Mega-Cap Stocks on Morningstar StockInvestor's Watchlist?  Which Stocks Earned the Minimum Value-Growth Score?Which Stocks Earned the Maximum Value-Growth Score? What's next is now at the Morningstar Investment Conference. Register now to get to the source for cutting-edge research, expert insights, and thorough analysis.https://www.morningstar.com/business/events/morningstar-investment-conference?refid=investinginRead about topics from this episode.  Subscribe to the StockInvestor Newsletter3 Top Value Stocks to Buy and Hold for 202511 Newly Overvalued StocksTop 15 Value-Creating Stocks of the Past DecadeWeekly Market Update: Stocks Rise 1.35% as Tech Sector GainsJohn Rekenthaler: ‘The House Is With You When You're Investing'Market Barometer What to watch from Morningstar.These 4 Dividend ETFs Strike the Right Balance for Income InvestorsVanguard Fee Cuts May Be Small, But They're a Win For InvestorsHow Inflation, Tariffs, and More Could Impact Your Finances in 2025Why Inflation Still Poses a Risk to Stocks and Bonds in 2025  Read what our team is writing:David HarrellIvanna Hampton Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/

Bryan Armour, director of passive strategies research for North America for Morningstar Research Services, explains how dividend income and dividend growth strategies work. He also discusses why four dividend ETFs from Vanguard and Schwab earn top marks.Comparing Income and Growth Dividend ETF StrategiesBlindspots in Dividend  ETF InvestingAre Company Payouts Expected to Increase Over Time for Dividend Growth ETFs?Judging the Performance of Dividend ETF Strategies What is Factor Investing?Writing Your Factor Exposure Checklist for Dividend ETFsGold-Rated Dividend Growth ETFs from VanguardWhy is Vanguard's Dividend Income Strategy Impressive?Why Schwab's Dividend ETF Is Worthy of a Gold Rating What's next is now at the Morningstar Investment Conference. Register now to get to the source for cutting-edge research, expert insights, and thorough analysis.https://www.morningstar.com/business/events/morningstar-investment-conference?refid=investingin Read about topics from this episode.  The Top High Dividend ETFs for Passive Income in 2025Is It Time to Reconsider Dividend Funds?How to Choose a Dividend FundHow to Maximize the Tax Efficiency of an ETF Portfolio3 Great US ETFs for 2025 and BeyondWhat to watch from Morningstar.Vanguard Fee Cuts May Be Small, But They're a Win For InvestorsHow Inflation, Tariffs, and More Could Impact Your Finances in 2025Why Inflation Still Poses a Risk to Stocks and Bonds in 2025Active ETFs vs Mutual Funds: What to Know Before Picking a New Fund Read what our team is writing:Bryan ArmourIvanna Hampton Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/ 

Dan Sotiroff, a senior manager research analyst for Morningstar, explains how lower fees on dozens of Vanguard investments will likely benefit both investors and the popular money manager. Plus, we hear from the hosts of our new podcast, The Morning Filter. David Sekera, Morningstar's chief US market strategist, and Susan Dziubinski, an investment specialist at Morningstar Inc., discuss how they cut through the noise of the stock market each week.Vanguard Fee Cuts 2025Why Is Vanguard Cutting Fees Now?6 Noteworthy Vanguard Funds and ETFs With Cheaper Expense Ratios Vanguard Signals to Investors to Consider Bond FundsIs Vanguard's New CEO Putting Pressure on BlackRock to Lower Fees?Has the “Race to the Bottom” of Cheaper Fund Fees Started Again?What Lower Fund Fees Mean for Vanguard Investors in the Long TermHow Vanguard Can Keep and Grow Their Customer BaseWhat's New in the MarketsIntroducing The Morning Filter PodcastHow The Morning Filter Brings Unique Insights to ListenersWhat to Expect from The Morning Filter's Weekly Analysis of Stock Picks and Pans MarketOutlook 2025: What Investors Can Expect How Investors and Advisors Learn from The Morning FilterWhat's next is now at the Morningstar Investment Conference. Register now to get to the source for cutting-edge research, expert insights, and thorough analysis.https://www.morningstar.com/business/events/morningstar-investment-conference?refid=investinginRead about topics from this episode.  Vanguard Cuts Fees on Nearly 90 Funds and ETFsVanguard in 2025: What Investors Need to KnowSubscribe to The Morning Filter on Apple podcasts, or wherever you stream podcasts.3 Stocks to Buy Before They Bounce Back What to watch from Morningstar.How Inflation, Tariffs, and More Could Impact Your Finances in 2025Why Inflation Still Poses a Risk to Stocks and Bonds in 2025Active ETFs vs Mutual Funds: What to Know Before Picking a New FundIt's Getting Easier to Invest in Private Assets. What Does That Mean for Investors? Read what our team is writing:Daniel SotiroffDavid SekeraSusan DziubinskiIvanna Hampton Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/

In this episode:Benefits and drawbacks of RIA consolidation.What investors want from financial advisors.How financial advisors can explain their value in a sea of sameness.You can listen to this and other episodes of Big Picture in Practice wherever you stream podcasts.Additional resources:Read a summary of this episode: https://www.morningstar.com/business/insights/blog/podcasts/big-picture-in-practice/ria-consolidation-rollupsCatch up on previous episodes: https://www.morningstar.com/views/podcasts/big-picture-in-practiceSubscribe to our newsletter: https://www.morningstar.com/business/insights/research/big-picture-in-practice-newsletterQuestions or ideas? Email us at bigpictureinpractice@morningstar.com.

If you want to maximize your investing returns beyond what traditional methods offer, discover leading edge opportunities, or simply stay up to date on the latest investing trends, alternative investments may be for you. The pursuit of diversification is not as straightforward as it once was — and the classic 60/40 portfolio may no longer be sufficient in helping investors achieve their financial goals. Alternative assets are emerging and may start to play a more prominent role in future investor portfolios.   This episode is recorded LIVE from the 2024 Morningstar Investment Conference with Phil Huber. He's the Chief Investment Officer for a multi-billion dollar wealth management firm and author of The Allocator's Edge: A Modern Guide to Alternative Investments and the Future of Diversification. Listen now and learn: Why traditional asset allocation strategies may face challenges going forward How private credit has emerged as one of the fastest growing alternative asset classes The benefits of interval funds relative to traditional drawdown funds    Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.   [02:23] The Case for Alternative Investments [06:15] Understanding and Implementing Alternatives    [09:37] Educating Clients on Alternatives  [14:21] Exploring Private Equity [16:45] The Rise of Private Credit  [23:52] Interval Funds: A Modern Solution  [32:14] Crafting an Alternative Investment Strategy  [36:09] Effective Communication and Benchmarking 

Senior Vice President Janice Musselwhite shares the highlights from the Morningstar Investment Conference in Chicago this June. Gabelli Funds was the Principal Sponsor for the second consecutive year. John Belton, CFA, a Managing Director of Growth Equities and Co-Portfolio Manager of the Gabelli Growth Innovators ETF (GGRW) presented on Wednesday, June 26th on Investing in Generative AI, Identifying Winners & Separating Hype from Reality. Lieutenant Colonel G. Anthony (Tony) Bancroft, USMCR, team leader and Portfolio Manager of the Gabelli Commercial Aerospace & Defense ETF (GCAD), presented on Insights on the Commercial Aviation and Defense Spending Landscape on Thursday, June 27th. To learn more about Gabelli Funds' fundamental, research-driven approach to investing, visit https://m.gabelli.com/gtv_cu or email invest@gabelli.com. Connect with Gabelli Funds: • Twitter - https://twitter.com/InvestGabelli • Instagram - https://www.instagram.com/investgabelli/ • Facebook - https://www.facebook.com/InvestGabelli • LinkedIn - https://www.linkedin.com/company/investgabelli/ http://www.Gabelli.com Invest with Us 1-800-GABELLI (800-422-3554)

A special live episode from the Morningstar Investment Conference. Two of Morningstar Wealth's investment leaders—Matt Wacher and Ricky Williamson—joined the show to help us dig into what's already happened this year and where we may be headed. The topics covered included: • The Fed and where rates may be headed • Further discussion on fixed-income • US stocks are off to another hot start this year. Can outperformance continue? • Every business is thinking about AI. How is it impacting markets? • And how should investors be preparing for a presidential election? And as always, we address the implications on client portfolios and help consider action items.

At the Morningstar Investment Conference in Chicago, Kapoor also discusses how advisors can demonstrate value to clients. Host: Greg Bartalos. 

Morningstar Research Services' Bryan Armour, director of passive strategies research for North America; Ryan Jackson, senior manager research analyst; and Daniel Sotiroff, senior manager research analyst discuss what's driving the rapid of growth active ETFs and how their tax efficiency and lower costs make them an easy win for investors. The team joins host Sarah Hansen, Morningstar Inc. markets reporter, at the 2024 Morningstar Investment Conference.Active vs Passive ETFsWhat's Driving the Growth of Active ETFs?Why Some Active ETFs Are More Successful Than OthersActive ETFs that Managers Have Shied Away FromWho Should Invest in Active ETFs?Misconceptions About Active ETFsTop-Rated Active ETFsWhat's Next for Active ETFs? Read about topics from this episode.  Morningstar's Guide to US Active ETFsActive ETFs are Soaring. Should You Invest?3 Great Active ETFs for Bond InvestorsThe Best Active ETFs to BuyHere's Why Active ETFs Are So Hot Right NowHow to Choose Great ETFs for the Long Term What to watch from Morningstar.4 Reasons Why the Stock Market Has Delivered Impressive PerformanceShort-Term Market Volatility Could Provide Long-Term Investing OpportunitiesCovered Call and Buffer ETFs: Do the Pros Outweigh the Cons?How to Find a Great Dividend Fund Read what our team is writing:Sarah HansenBryan ArmourRyan JacksonDaniel Sotiroff Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/

Netflix's Incredible First Quarter  United Flew Just Above Morningstar's Expectations  An Investing Guide for Every Life StageWhat is Life-Stage Investing?Early Career AccumulationWhen Would Roth Accounts Make Sense for an Investor?Why Mid-Career Accumulation Can Be More ComplicatedFinancial Priorities of Mid-Career AccumulatorsCovered-Call ETFs and Passive Strategies  How Do Covered Call and Buffer ETFs Work?Which Kind of Investors Are These Strategies Designed For?Downsides to Buffer ETFs and Covered Call ETFs?Tax ConcernsWhat ETF Fees Are Costing Investors? Read about topics from this episode.  Register for the Morningstar Investment Conference!An Investing Guide for Every Life StageAn Investing Road Map for Early Career AccumulatorsAn Investing Road Map for Midcareer AccumulatorsActive ETFs are Soaring. Should You Invest?Should You Own a Covered-Call ETF Like JEPI?  What to watch from Morningstar.Make These Investing Moves Now for a Better Tax Day in 20253 Cheap Stocks to Watch in the Fight Over Sports StreamingHow to Find a Great Dividend FundThe 4% Retirement Rule is Just a Starting Point Read what our team is writing:Ivanna HamptonMargaret GilesBryan Armour Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/Twitter: https://twitter.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/ 

On the podcast today, we welcome back Jonathan Clements, who was among our first guests when we launched this podcast back in 2019. Jonathan is the founder and editor of HumbleDollar, and he is also the editor of a new book called My Money Journey, which is a compilation of essays from 30 individuals about how they found financial freedom. Jonathan also sits on the advisory board of Creative Planning, one of the country's largest independent financial advisors and is the author of nine personal finance books. Earlier in his career, Jonathan spent almost 20 years at The Wall Street Journal, where he was the newspaper's personal finance columnist and six years at Citigroup, where he was director of financial education for the bank's U.S. Wealth Management arm.BackgroundBioHumbleDollarMy Money Journey, edited by Jonathan ClementsCurrent Conditions“What I Don't Own,” by Jonathan Clements, humbledollar.com, March 4, 2023.“Happy Talk,” by Jonathan Clements, humbledollar.com, Nov. 19, 2022.“Behaving Badly,” by Jonathan Clements, humbledollar.com, Sept. 18, 2021.“Nine Roads to Ruin,” by Jonathan Clements, humbledollar.com, March 6, 2021.“New Rules for Success,” by Jonathan Clements, humbledollar.com, Nov. 26, 2022.“Pay It Down,” by Jonathan Clements, humbledollar.com, Aug. 17, 2019.Indexing, Retirement, and Real Estate“Four Questions,” by Jonathan Clements, humbledollar.com, Feb. 22, 2020.“Jonathan's Portfolio,” by Jonathan Clements, humbledollar.com.“Mix and Match,” by Jonathan Clements, humbledollar.com, Dec. 4, 2021.“Risking My Life,” by Jonathan Clements, humbledollar.com, Aug. 8, 2020.“Jonathan's Retirement,” by Jonathan Clements, humbledollar.com.“How to Overhaul Your Retirement Portfolio in Just 7 Days,” by Jonathan Clements, money.com, Jan. 3, 2019.“The Long Game,” by Jonathan Clements, humbledollar.com, Feb. 4, 2023.“Jonathan's Homes,” by Jonathan Clements, humbledollar.com.Theory and Thrift“Helpful in Theory,” by Jonathan Clements, humbledollar.com, Feb. 11, 2023.“Don't Overdo It,” by Jonathan Clements, humbledollar.com, Jan. 23, 2021.Other“Jonathan Clements: ‘It's in Wall Street's Interest to Make Everyday Investors Think That They Are Stupid,'” The Long View podcast, Morningstar.com, July 31, 2019.“Credit Scores and Committed Relationships,” by Jane Dokko, Geng Li, and Jessica Hayes, federalreserve.gov, August 2015.Morningstar Investment Conference 2023If you're looking for even more investing insights, data, and analysis, join us at this year's Morningstar Investment Conference, April 25 through 27 in Chicago. We have a great agenda this year, featuring top financial minds from market gurus like Liz Ann Sonders to great investors like Steve Romick to retirement planning experts like Mary Beth Franklin and Dr. Laura Carstensen. There's something for everyone looking to tackle the challenges and opportunities for investors in the current market. We're in-person only this year. So, check out the link in our show notes to register. We're looking forward to seeing you in Chicago.

We sit down with Morningstar Equity Analyst Angus Hewitt to speak about Qantas, A2 Milk and other stocks in his coverage. He lets us know the best opportunity in his converage and the outlooks for the sectors.Join us in-person or digitally on 11-12 October at the Morningstar Investment Conference for Individual Investors. Click here to register today.To submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here. Hosted on Acast. See acast.com/privacy for more information.

In a listener requested episode, we explore whether investors can rely solely on dividends to fund their retirement.Join us in-person or digitally on 11-12 October at the Morningstar Investment Conference for Individual Investors. Click here to register today.To submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Additional resources from our episodes are available via our website.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

There has been a lot of investor excitement around Japan. It is the tip of a decades-long story.Join us in-person or digitally on 11-12 October at the Morningstar Investment Conference for Individual Investors. Click here to register today.To submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Additional resources from our episodes are available via our website.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

We break down each of the components of a total return to understand what you get at the end of your investment.Join us in-person or digitally on 11-12 October at the Morningstar Investment Conference for Individual Investors. Click here to register today.To submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Additional resources from our episodes are available via our website.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

We discuss global debt and why investors should pay attentionJoin us in-person or digitally on 11-12 October at the Morningstar Investment Conference for Individual Investors. Click here to register today.To submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Additional resources from our episodes are available via our website.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

In this unique Swift Chat, recorded live in the Social/Digital Hub at the 2023 Morningstar Investment Conference (MICUS) in Chicago, honorary “Hubster” Shawna Ohm of Content 151 flips the script as she interviews Marie Swift and Jonny Swift of Impact Communications.  The trio shares some of their marketing and PR insights in relation to some of the hot topic items at MICUS 2023 like AI. They share how firms both large and small can integrate AI in their marketing efforts to help create content, generate leads, and even help with client retention. Marie and Jonny also share some actionable takeaways for firms looking to up their PR and marketing game. Learn more about Shawna Ohm and Content 151 here: www.Content151.com  Find more great content from the Social/Digital Hub here: www.SocialDigitalHub.com

Everyone's definition of financial independence is different. We explore how to achieve the foundations of financial independence in three steps.Join us in-person or digitally on 11-12 October at the Morningstar Investment Conference for Individual Investors. Click here to register today. To submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Additional resources from our episodes are available via our website.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

Our market outlook looks at the current state of the market and themes investors should be aware of.Join us in-person or digitally on 11-12 October at the Morningstar Investment Conference for Individual Investors. Click here to register today.To submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Additional resources from our episodes are available via our website.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

In this special episode of Swift Chats, taped live at the #MICUS Podcast Stage, Hosts Jonny Swift and Marie Swift recap highlights and insights from the 2023 Morningstar Investment Conference with Mary Beth Franklin, Contributing Columnist at InvestmentNews and Laura Carstensen, Director of the Stanford Center on Longevity. The group discusses the challenges and opportunities for financial advisors in the evolving landscape of retirement income planning, the importance of holistic financial planning, engaging the next generation in financial conversations, and finding a sense of purpose in later life. Dr. Carstensen emphasizes the significance of adapting to an era of increased life expectancy, while Mary Beth Franklin discusses the challenges and responsibilities faced by financial advisors in helping clients navigate financial decisions in retirement. Find more great content from the 2023 Social/Digital Hub at the Morningstar Investment Conference at: https://www.socialdigitalhub.com/

This special Swift Chat comes to you live from the Social/Digital Hub at the 2023 Morningstar Investment Conference in Chicago - April 25-27. Hosts Marie Swift and Jonny Swift, along with Honorary Hubsters Shawna Ohm of Content 151 and Victor Gaxiola of TechGirl Financial, speak with some big names about why they love coming to the Morningstar Investment Conference, highlights from various presentations, as well as takeaways from the conversations happening in the exhibit hall. Guests Include: Leslie Marshall of Mesmerise Daniel Dusina of Blue Chip Partners Jamie Hopkins of Carson Group Brian Portnoy of Shaping Wealth Dr. Preston Cherry of Concurrent Financial Planning Tyrone Ross Jr. of Turnqey Labs Shana Sissel of Banríon Capital Management J. Alan Reid and Alex Thaler of Iconik

Hi, and welcome to The Long View. I'm Christine Benz, director of personal finance and retirement planning for Morningstar. Our guest on the podcast today is Aswath Damodaran. Damodaran is a professor of finance at the Stern School of Business at New York University, and he has been called the dean of valuation. He has written several books on equity valuation, investment management, and corporate finance. This interview was recorded at the Morningstar Investment Conference in April 2023.BackgroundBioBooks by Aswath DamodaranInterest Rates and Inflation“Inflation and Investing: Is the Genie Out of the Bottle?” by Aswath Damodaran, NYU Stern School of Business.“In Search of a Steady State: Inflation, Interest Rates, and Value,” by Aswath Damodaran, Musings on Markets blog, May 6, 2022.“A Follow Up on Inflation: The Disparate Effects on Company Values!” by Aswath Damodaran, Musings on Markets blog, May 20, 2022.“Malaise in Market Will Last Longer if Investors Behave Like It's the ‘70s: Aswath Damodaran,” by Nikhil Agarwal, The Economic Times, Sept. 27, 2022.Equity Risk Premium“Country Default Spreads and Risk Premiums,” by Aswath Damodaran, NYU Stern School of Business, Jan. 5, 2023.“Equity Risk Premiums (ERP): Determinants, Estimation, and Implications—The 2022 Edition,” by Aswath Damodaran, NYU Stern School of Business, March 23, 2022.“Equity Risk Premiums,” by Aswath Damodaran, NYU Stern School of Business.Buybacks“Data Update 7 for 2023: Dividends, Buybacks, and Cash Flows,” by Aswath Damodaran, Musings on Markets blog, March 8, 2023.“Aswath Damodaran: The History of Buybacks,” GuruFocus.com, Aug. 29, 2019.ESG“The ESG Movement: The ‘Goodness' Gravy Train Rolls On,” by Aswath Damodaran, Musings on Markets blog, Sept. 14, 2021.“Valuing ESG: Doing Good or Sounding Good?” by Bradford Cornell and Aswath Damodaran, Portfolio Management Research, Fall 2020.“Professor Damodaran's Latest ESG Takedown Overlooks One Important Group of Investors,” by Adam Fleck, Morningstar.com, April 1, 2022.Valuation and Capital Allocation“Closure in Valuation: Estimating Terminal Value,” by Aswath Damodaran, NYU Stern School of Business.“My Valuation Journey: Have Faith, You Must!” by Aswath Damodaran, NYU Stern School of Business, June 2020.“3 Fund Portfolio: How to Save for Retirement With Just Three Investments,” by Carla Fried, Forbes, July 15, 2022.Other“Michael Mauboussin: Finding Easy Games,” The Long View podcast, Morningstar.com, Jan. 25, 2022.Expectations Investing: Reading Stock Prices for Better Returns, by Michael Mauboussin and Alfred Rappaport.

In Episode #05 of NAPFA Nation – livestreamed from the big podcast stage at the 2023 Morningstar Investment Conference in Chicago – Tara Unverzagt, CFP®, of South Bay Financial Partners tells us how she became fee-only financial planner, and why she decided to develop new access points for people who dread facing, or worse, are stressed and worried about financial decisions. Unverzagt has been working in financial planning, investment advice, and tax preparation for over 20 years. She specializes in multigenerational financial planning which includes raising a family, having a successful retirement, generation wealth transfer, and financial coaching for younger generations. But over the years she saw that there need to be more options to help people from all income and asset levels master the intimidating world of money, simplify confusing financial decisions, and manage expenses. Unverzagt shares: How and why she built an exclusive community of financial planners, financial therapists, accountants, students, parents, business owners, and others via an affordable solution that helps people live amazing, purpose-filled and financially stable lives  The differences between financial coaching, financial therapy, and financial planning    6 behaviors that if strengthened lead to better wealth accumulation      How certain money beliefs can work for us – or hold us back Ways technology can aid humans seeking to improve the decision-making process Key points: While we all need to be saving for a rainy day and investing for the future, it's the day-to-day choices that will make or break us. Integrating financial therapy into financial planning helps people learn to relax and move forward in the most productive way. Listing her prices for the various services and programs offered at her firm shows potential clients that she is interested in helping them make better financial decisions – and a good first step is for them to know how much they are paying for the one-time service and/or ongoing interaction and support they need. Understanding how the brain is wired helps us see why people make the decisions they do. Intentional spending is possible with the right information, education, and mindset. Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Our guest this week is Liz Ann Sonders. Liz Ann is managing director and chief investment strategist at Charles Schwab. In her role, Liz Ann is responsible for conducting market and economic analysis, which she and her team publish in a variety of forms. She also regularly appears in the financial media and was recently named to Barron's Magazine's “100 Most Influential Women in Finance” list. Liz Ann joined Schwab in 2000 when the firm acquired her prior employer, U.S. Trust. Before that, she was a managing director and senior portfolio manager at Avatar Associates. Liz Ann received her bachelor's from the University of Delaware and her MBA from Fordham University's Gabelli School of Business.We recorded this interview live from the main stage of the annual Morningstar Investment Conference, which was recently held in Chicago, Illinois.BackgroundBio“Liz Ann Sonders: ‘We Could See Some Inflation Scares,'” The Long View podcast, Morningstar.com, Jan. 6, 2021.Secular and Cyclical Looks“What the End of the ‘Great Moderation Era' Means for Investors: Morning Brief,” by Jared Blikre, news.yahoo.com, March 2, 2023.“Market Snapshot With Liz Ann Sonders,” video commentary, schwab.com, April 2023.“Helpless? Recession Risks Abound,” by Liz Ann Sonders and Kevin Gordon, schwab.com, Jan. 23, 2023.“Expect Volatility, Rolling Recession, but Watch for Contagion, Schwab's Sonders Says,” by Tracey Longo, fa-mag.com, March 15, 2023.“Hurts So Good: Jobs Picture Stays Mixed,” by Liz Ann Sonders and Kevin Gordon, schwab.com, Jan. 9, 2023.“Schwab's Sonders Says Bear Market Hasn't Yet Hit Bottom,” by Tracey Longo, fa-mag.com, Feb. 7, 2023.Inflation and the Fed“U.S. Stock Market ‘Pretty Expensive' as Investors Parse Inflation Report in Choppy Trade,” by Christine Idzelis, marketwatch.com, April 12, 2023.“Mixed (Inflation) Signals,” by Liz Ann Sonders and Kevin Gordon, schwab.com, April 17, 2023.“Market Perspective: Searching for Spring,” by Liz Ann Sonders, Kathy Jones, and Jeffrey Kleintop, advisorperspectives.com, Feb. 19, 2023.“Schwab Market Perspective: Top of the Rate Cycle,” by Liz Ann Sonder, Kathy Jones, and Jeffrey Kleintop, schwab.com, April 14, 2023.“Under Pressure: Fed Hikes in Face of Bank Turmoil,” by Liz Ann Sonders, schwab.com, March 22, 2023.Credit Risk and Real EstateSenior Loan Officer Opinion Survey on Bank Lending Practices“A Recession Seems ‘Somewhat Unavoidable' as Tighter Credit Conditions Reveal More Zombies of the Easy-Money Era, Schwab Strategist Liz Ann Sonders Says,” by Phil Rosen, businessinsider.in, April 7, 2023.“The US Housing Market Is in Recession—and the Pandemic Has Created a Unique Economic Headache, Elite Strategist Liz Ann Sonders Says,” by Theron Mohamed, markets.businessinsider.com, March 8, 2023.Stocks and Earnings“The Price You Pay: A Look at Equity Valuations,” by Liz Ann Sonders and Kevin Gordon, schwab.com, Feb. 21, 2023.“This Indicator Clearly Shows Where Wall Street's Top Money Managers Expect Stocks to Head Next,” by Sean Williams, Nasdaq.com, April 14, 2023.Growth vs. Value and Asset Allocation“Mysterious Ways: Growth vs. Value Debate,” by Liz Ann Sonders, schwab.com, May 1, 2023.“Elevation: Largest Stocks to Market's Rescue?” by Liz Ann Sonders and Kevin Gordon, schwab.com, April 3, 2023.

David Trainer, founder and president at New Constructs, makes pet-insurer Trulanuon the 33rd member of his firm's list of ‘zombie stocks,' nothing that the company still has a long runway — nearly two years before he expects it to be bankruptcy — but almost no hope. Chuck discusses real expertise and the importance of vetting experts at a time when most news and information sources are looking to fill space. Plus Craig Martin discusses the latest research from J.D. Power showing how unhappy self-determined investors are with their results, and Charles Rotblut of AAII Journal gives his take on last week's Morningstar Investment Conference, as well as on the current sentiment of investors. 

In today's episode, Russ Kinnel, director of manager research for Morningstar Research Services, and Tom Lauricella, chief markets editor for Morningstar Inc., discuss several conference themes, including the banking crisis, bonds, and growth stocks.What was the overall sentiment about the markets and risks of a recession? Highlights from PIMCO's Dan Ivascyn's viewpoint on bonds Growth stocks outlook Insights from Schwab's Liz Ann Sonders on global challenges' impacting marketsTakeaways from Former U.S. Treasury Secretary Larry Summers on banking crisis, soft landing, and debt ceiling debate International stocks outlook Highlights from NYU finance professor Aswath Damodaran on ESG and calls for improvement Lessons from dot-com bubble and financial crisis that could apply today What themes emerged from the conference?What surprised you at the conference this year?  Read about topics from this episode.  When Will the Fed Start Cutting Interest Rates?Climate Tech Opportunities Attract Investors Should You Be Worried About the Health of Social Security? Don't Fight the Fed Social Security Planning for Married Couples What's Ahead for Vanguard in 2023 7 Cheap EV Supply Chain Stocks What's Ahead for BlackRock in 2023   What to watch from Morningstar.Planning to Retire Soon? Flexibility and Spending CountWhere Can the Automotive Industry Go From Here?: Part TwoWhere Can the Automotive Industry Go From Here?: Part OneHow Do Vanguard's Target-Date Funds Stack Up?  Read what our team is writing:Ivanna HamptonTom LauricellaRussel Kinnel  Follow us on social media.Russel Kinnel on Twitter: @RussKinnelIvanna Hampton on Twitter: @IvannaHamptonFacebook: https://www.facebook.com/MorningstarInc/Twitter: https://twitter.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/ 

It's the third and final day of interviews from the Morningstar Investment Conference in Chicago, and Joel Dickson, global head of advice methodology at Vanguard, carries the dicussion on the classic 60-40 portfolio further -- rivaling Catherine LeGraw from GMO who you heard on Thursday's show -- saying that the classic stock-bonds mix remains the most simple, straightforward, cost-effective solution for investors who can ride out the bumps and bruises along the way. But he's the closer on a show that starts with Super Mario -- Mario Gabelli of the Gabelli Funds -- returning for The NAVigator to discuss his long-time love for closed-end fund investing. Plus, Chuck chats with Wade Pfau, a leading authority on annuities, reverse mortgages and structured income products, Tara York of the alternatives platform Luma Financial Technologies, Morningstar's director of personal finance Christine Benz, ETF product specialist Nick Elward of Natixis Investment Managers, and global deep-value investor Michael Campagna of Moerus Capital.

Host Chuck Jaffe attended this week's Morningstar Investment Conference in Chicago and took the podcast with him, catching up with 'Super Mario' -- investment legend Mario Gabelli, founder of the Gabelli Funds, a long-tenured fan of closed-end funds, who discusses the pros and cons of the closed-end structure, especially as it relates to the Gabelli Equity Trust and the 10 percent payout he has made a cornerstone of the fund's investment policy.

It's Day Two of Money Life at Morningstar, featuring interviews from the Morningstar Investment Conference in Chicago. One of the themes of this year's event has been the rise and fall and rebirth of 60-40 portfolios and Catherine LeGraw, partner at GMO, takes the side that the default allocation is too blunt to work for everyone, leaving them with too much risk which ultimately short-circuits their ability to reach their goals. Also on this show, Steve Romick of the FPA Crescent fund, Morningstar's John Rekenthaler, John Hoffman of Invesco, Hunter Hayes of Intrepid Capital Management, Brian Portnoy of Shaping Wealth and Shana Sissel of Banrion Capital. Plus Tom Lydon of VettaFi with the ETF of the Week!

It's Money Life at Morningstar, the first of three days of interviews from the Morningstar Investment Conference in Chicago. Liz Ann Sonders, chief investment strategist at Charles Schwab and Co., says that the market appears to be banking on a near-term recession, in which it takes the pain and the ill-tasting medicine, thereby allowing the Federal Reserve to take its foot off the economic brake. As a result, a recession sooner rather than later would be helpful for the economy. She kicks off seven interviews, including "Super Mario" -- legendary fund manager Mario Gabelli of the Gabelli Funds -- bond fund manager Warren Pierson of the Baird Funds, asset-allocation strategist Som Priestley of T. Rowe Price, Dan Lefkovitz of Morningstar Indexes, Nate Velarde of Chautauqua Capital talking international investing, and Alison Susko of Asset Map, a fin-tech company helping investors get a better handle on their finances.

On the podcast today, we welcome back Jonathan Clements, who was among our first guests when we launched this podcast back in 2019. Jonathan is the founder and editor of HumbleDollar, and he is also the editor of a new book called My Money Journey, which is a compilation of essays from 30 individuals about how they found financial freedom. Jonathan also sits on the advisory board of Creative Planning, one of the country's largest independent financial advisors and is the author of nine personal finance books. Earlier in his career, Jonathan spent almost 20 years at The Wall Street Journal, where he was the newspaper's personal finance columnist and six years at Citigroup, where he was director of financial education for the bank's U.S. Wealth Management arm.BackgroundBioHumbleDollarMy Money Journey, edited by Jonathan ClementsCurrent Conditions“What I Don't Own,” by Jonathan Clements, humbledollar.com, March 4, 2023.“Happy Talk,” by Jonathan Clements, humbledollar.com, Nov. 19, 2022.“Behaving Badly,” by Jonathan Clements, humbledollar.com, Sept. 18, 2021.“Nine Roads to Ruin,” by Jonathan Clements, humbledollar.com, March 6, 2021.“New Rules for Success,” by Jonathan Clements, humbledollar.com, Nov. 26, 2022.“Pay It Down,” by Jonathan Clements, humbledollar.com, Aug. 17, 2019.Indexing, Retirement, and Real Estate“Four Questions,” by Jonathan Clements, humbledollar.com, Feb. 22, 2020.“Jonathan's Portfolio,” by Jonathan Clements, humbledollar.com.“Mix and Match,” by Jonathan Clements, humbledollar.com, Dec. 4, 2021.“Risking My Life,” by Jonathan Clements, humbledollar.com, Aug. 8, 2020.“Jonathan's Retirement,” by Jonathan Clements, humbledollar.com.“How to Overhaul Your Retirement Portfolio in Just 7 Days,” by Jonathan Clements, money.com, Jan. 3, 2019.“The Long Game,” by Jonathan Clements, humbledollar.com, Feb. 4, 2023.“Jonathan's Homes,” by Jonathan Clements, humbledollar.com.Theory and Thrift“Helpful in Theory,” by Jonathan Clements, humbledollar.com, Feb. 11, 2023.“Don't Overdo It,” by Jonathan Clements, humbledollar.com, Jan. 23, 2021.Other“Jonathan Clements: ‘It's in Wall Street's Interest to Make Everyday Investors Think That They Are Stupid,'” The Long View podcast, Morningstar.com, July 31, 2019.“Credit Scores and Committed Relationships,” by Jane Dokko, Geng Li, and Jessica Hayes, federalreserve.gov, August 2015.Morningstar Investment Conference 2023If you're looking for even more investing insights, data, and analysis, join us at this year's Morningstar Investment Conference, April 25 through 27 in Chicago. We have a great agenda this year, featuring top financial minds from market gurus like Liz Ann Sonders to great investors like Steve Romick to retirement planning experts like Mary Beth Franklin and Dr. Laura Carstensen. There's something for everyone looking to tackle the challenges and opportunities for investors in the current market. We're in-person only this year. So, check out the link in our show notes to register. We're looking forward to seeing you in Chicago.

Our guest on the podcast today is Jill Schlesinger. She is the author of a new book called The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life. Jill is also a business analyst for CBS News and comments on the economy, investing, and personal finance for CBS television and radio programs. She also hosts the popular Jill on Money podcast and writes the nationally syndicated “Jill on Money” column for Tribune Media Services. Jill's first book, The Dumb Things Smart People Do With Their Money, was published in 2019. She has received numerous awards over her career, including an Emmy Award for her work on CBS Sunday Morning. Jill is a certified financial planner and spent 14 years as the co-owner of and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York following her graduation from Brown University.BackgroundBioThe Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life, by Jill SchlesingerThe Dumb Things Smart People Do With Their Money: Thirteen Ways to Right Your Financial Wrongs, by Jill SchlesingerJill on Money podcastMaking Changes and Mindful Spending“How the Pandemic Changed the Rules of Personal Finance,” by Paddy Hirsch, npr.org, Jan. 31, 2023.“Year-End Money Moves 2022,” by Jill Schlesinger, jillonmoney.com, Dec. 2, 2022.“Use This Expert-Approved 5-Step Strategy to Assess Your Financial Health Today,” by Katie Couric Media, katiecouric.com, Feb. 15, 2023.Negotiating in the Workplace“How to Negotiate With Your Boss,” Jill on Money podcast, jillonmoney.com, Feb. 11, 2022.“The Great Resignation,” by Jill Schlesinger, linkedin.com, Aug. 9, 2021.Current Environment“Investor Panic Prevention Plan 2022,” by Jill Schlesinger, jillonmoney.com, May 13, 2022.“Scary Financial News: Actions to Take Now,” by Jill Schlesinger, jillonmoney.com.“Bank Failures Put Fed in Hot Seat,” by Jill Schlesinger, jillonmoney.com.“Silicon Valley Bank Fails: What Happened, What's Next?” by Jill Schlesinger, jillonmoney.com.Other“Jill Schlesinger: ‘What Are You Going to Do With Your Life?'” The Long View podcast, Morningstar.com, Feb. 15, 2022.Morningstar Investment Conference 2023

Our guest on the podcast today is Micah Hauptman. Micah is the director of investor protection at the Consumer Federation of America, a nonprofit association of nearly 300 national, state, and local pro-consumer organizations. He leads CFA's investor protection work through conducting research and engaging in advocacy on investor protection issues, focusing primarily on the regulation of investment advisors, investment companies, and broker/dealers, particularly as they relate to the provision of retail investment products and services. Prior to rejoining CFA in early 2022 Micah served as counsel to Securities and Exchange Commission commissioner Caroline Crenshaw, and before that he served as CFA's financial services counsel for nearly seven years. He also worked at Public Citizen on a broad range of banking and tax issues and started his career as a prosecutor for the Los Angeles City Attorney's office. Micah received his bachelor's degree in political science from UCLA and his JD degree from the University of the Pacific McGeorge School of Law.BackgroundBioKey Challenges for Investors“New Offerings of Crypto in Retirement Plans Underscore Need for DOL Fiduciary,” by Micah Hauptman and Dylan Bruce, consumerfed.org, April 4, 2023.Department of Labor's 2016 Fiduciary Rule: Background and Issues“Improving Investment Advice for Workers & Retirees,” U.S. Department of Labor, dol.gov, June 29, 2020.Regulation Best InterestRegulation Best Interest (Reg BI) Overview“What Regulation Best Interest Means for Brokers and Asset Managers,” by Aron Szapiro, Morningstar.com, Nov. 18, 2019.“Beyond the FINRA Suitability Comfort Zone,” by Matthew Radgowski and Jill Axline, Morningstar.com, March 9, 2020.Cryptocurrency“Crypto: Risks Abound,” by Micah Hauptman, consumerfed.org, Nov. 17, 2022.“With Crypto, Advisors Need to Tread Carefully,” by Jasmin Sethi, Morningstar.com, Aug. 15, 2022.“Bitcoin in Your 401(k)? Not so Fast,” by Madeline Hume, Morningstar.com, April 27, 2022.Social Media“Investors in the United States: The Changing Landscape,” A Report of the FINRA Foundation National Financial Capability Study, finrafoundation.org, December 2022.“Why You Should Stop Taking Investment Advice From Social Media,” by Sunniva Kolostyak, Morningstar.com, June 16, 2021.Environmental, Social, and Governance“CFA Strongly Supports SEC Proposals to Enhance ESG-Related Disclosures and Update Names Rule,” by Micah Hauptman and Dylan Bruce, consumerfed.org, Aug. 16, 2022.“Amid Charges of Greenwashing, Sustainable-Investment Industry Attempts to Reassure Investors,” by Leslie Norton, Morningstar.com, June 8, 2022.Other“Robert Powell: ‘How Do I Generate the Income?'” The Long View podcast, Morningstar.com, March 14, 2023.Morningstar Investment Conference 2023

Our guest this week is James Choi. Dr. Choi is a professor of finance at the Yale School of Management, where he teaches and conducts research on behavioral finance and economics, household finance, and sociology, among other topics. He is a two-time recipient of the TIAA Paul A. Samuelson Award for outstanding scholarly writing on lifelong financial security, and his work on automatic enrollment into retirement plans has had a major influence on retirement plan policy and design. Dr. Choi is a co-director of the Retirement and Disability Research Center at the National Bureau of Economic Research and an associate editor of the Journal of Finance, among other professional and scholarly affiliations. He received both his bachelor's degree and doctorate from Harvard University.BackgroundBioRetirement and Disability Research CenterAcademics vs. Bestsellers“Popular Personal Financial Advice Versus the Professors,” by James Choi, nber.com, October 2022.Choice Architecture and Retirement Plan Design“Nudge: Improving Decisions About Health, Wealth, and Happiness,” by Richard Thaler and Cass Sunstein, researchgate.net, June 2009.“Contributions to Defined Contribution Pension Plans,” by James Choi, nber.org, August 2015.“Small Cues Change Savings Choices,” by James Choi, Emily Haisley, Jennifer Kurkoski, Cade Massey, Journal of Economic Behavior & Organization, August 2017.“Plan Design and 401(k) Savings Outcomes,” by James Choi, David Laibson, and Brigitte Madrian, National Tax Journal, June 2004.“Saving for Retirement on the Path of Least Resistance,” by James Choi, David Laibson, Brigitte Madrian, and Andrew Metrick, scholar.harvard.edu., Dec. 1, 2005.“Which Early Withdrawal Penalty Attracts the Most Deposits to a Commitment Savings Account?” by James Choi, John Beshears, Christopher Harris, David Laibson, Brigitte Madrian, and Jung Sakong, Journal of Public Economics, Feb. 8, 2020.“Present Bias Causes and Then Dissipates Auto-Enrollment Savings Effects,” by John Beshears, James Choi, David Laibson, and Peter Maxted, hbs.edu, 2022.Retirement Readiness and Policy Response“Borrowing to Save? The Impact of Automatic Enrollment on Debt,” by John Beshears, James Choi, David Laibson, Brigitte Madrian, and William Skimmyhorn, nber.org, July 2019.“The Effect of Providing Peer Information on Retirement Savings Decisions,” by James Choi, John Beshears, David Laibson, Brigitte Madrian, and Katherine Milkman, The Journal of Finance, June 2015.Emergency Savings“Building Emergency Savings Through Employer-Sponsored Rainy-Day Savings Accounts,” by John Beshears, James Choi, J. Mark Iwry, David John, David Laibson, and Brigitte Madrian, journals.uchicago.edu, 2020.Saving, Spending, Investor Behavior“Economists Confirm It's Actually OK to not Save Money in Your 20s,” by Sarah Hansen, money.com, Sept. 2, 2022.“Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds,” by James Choi, Xavier Gabaix, David Laibson, and Brigitte Madrian, nber.org, December 2005.“Does Aggregated Returns Disclosure Increase Portfolio Risk Taking?” by James Choi, James Beshears, David Laibson, and Brigitte Madrian, National Library of Medicine, Oct. 19, 2016.Other“Brigitte Madrian: ‘Inertia Can Actually Be a Helpful Thing,'” The Long View podcast, Morningstar.com, April 22, 2020.Morningstar Investment Conference 2023

In this special edition of Swift Chats recorded live at the 2022 Morningstar Investment Conference, Jonny Swift interviews a range of guests live from the Social / Digital Hub. The episode features: - Shawna Ohm, Founder of Content 151 - Katryna Deligiannis, Senior Social Media Manager at Morningstar - Aleksandr Spencer, CFA, Chief Investment Officer at Bogart Wealth - Tom Lydon, Vice Chairman at VettaFi - Peter Lazaroff, CFA, CFP®, Chief Investment Officer at Plancorp and BrightPlan  - Alison Susko, Director of Partnerships at Asset-Map - Liv Gagnon, Co-Founder of Choir - Roger Wohlner, Founder of RLW Associates - Katie Braden, CFP®, Founder of Innovating Advice

This week we're pleased to bring you a special “State of Retirement Income” episode, which we recorded live at the annual Morningstar Investment Conference held recently in Chicago, Illinois. For this discussion, we turn the tables on Christine, who is part of an expert retirement planning panel that also includes David Blanchett, managing director and head of retirement research at PGIM DC Solutions, and Karsten Jeske, the founder of Early Retirement Now. Both were guests on past episodes of The Long View.In this panel discussion, recorded before a live audience, we delve into a number of retirement-planning topics, including the impact of inflation on spending patterns; the implications of the recent selloff on asset allocation; sequence-of-returns risk; optimal Social Security-claiming practices; the role and importance of guaranteed income sources; and a lot more. Without further ado, please enjoy this special episode of The Long View.Background“Karsten Jeske: Cracking the Code on Retirement Spending Rates,” The Long View podcast, Morningstar.com, Oct. 14, 2020.Karsten Jeske's blog, Early Retirement NowKarsten Jeske's bioDavid Blanchett's bio“David Blanchett: If You're Retiring Now, You're in a Pretty Rough Spot,” The Long View podcast, Morningstar.com, Sept. 18, 2019.“Christine Benz and John Rekenthaler: How Much Can You Safely Spend in Retirement?” The Long View podcast, Morningstar.com, Dec. 21, 2021.Inflation“How Much Should You Worry About Inflation in Retirement?” by Christine Benz, Morningstar.com, March 26, 2021.“Exploring the Retirement Consumption Puzzle,” by David Blanchett, financialplanningassociation.org, May 2014.Safe Withdrawal RatesThe Trinity Study“The Safe Withdrawal Rate Series—A Guide for First-Time Readers,” by Karsten Jeske, EarlyRetirementNow.com, Nov. 15, 2021.“The State of Retirement Income: Safe Withdrawal Rates,” by Christine Benz, Jeffrey Ptak, and John Rekenthaler, Morningstar.com, November 2021.“What's a Safe Retirement Spending Rate for the Decades Ahead?” by Christine Benz and John Rekenthaler, Morningstar.com, Nov. 11, 2021.“Drawdown From Financial Accounts in Retirement,” Vanguard Research by Thomas J. De Luca and Anna Madamba, vanguard.com, July 2021.Retirement Portfolio Construction“Cliff Asness: Value Stocks Still Look Like a Bargain,” The Long View podcast, Morningstar.com, May 31, 2022.“Bonds May Be Down, But Some Annuity Payouts Are Up,” by David Blanchett, thinkadvisor.com, May 13, 2022.“Inflation at 7%! Here's Why I'm Not Running for the Hills (Yet)!” by Karsten Jeske, earlyretirementnow.com, Jan. 13, 2022.“The Bucket Approach to Retirement Allocation,” by Christine Benz, Morningstar.com, Jan. 25, 2021.Christine Benz's model bucket portfoliosHarold EvenskyWhat Is a Monte Carlo Simulation?Guaranteed Income and Social Security“Guaranteed Income: A License to Spend,” by David Blanchett and Michael Finke, papers.ssrn.com, June 28, 2021.Open Social SecurityOther“Laura Carstensen: ‘I'm Suggesting We Change the Way We Work,'” The Long View podcast, Morningstar.com, Sept. 14, 2021.“Eight Centuries of Global Real Interest Rates, R-G, and the ‘Suprasecular' Decline, 1311-2018,” by Paul Schmelzing, bankofengland.co.uk, January 2020.

Our guest this week is Cliff Asness. Cliff is a founder, managing principal, and chief investment officer at AQR Capital Management. Cliff writes often about investing and financial matters on AQR's website and has been a prolific researcher throughout his career, with his contributions appearing in many of the leading scholarly journals, including the Journal of Portfolio Management, Financial Analyst Journal, the Journal of Finance, and the Journal of Financial Economics. This work has earned him accolades, including the James R. Vertin Award, which the CFA Institute bestows on those who produced a body of research notable for its relevance in enduring value to investment professionals. Before cofounding AQR, Cliff was a managing director and director of quantitative research for the asset-management division of Goldman Sachs. He earned dual bachelor's degrees, one in economics from the Wharton School and another in engineering from the Moore School of Electrical Engineering at the University of Pennsylvania, as well as an MBA and Ph.D. in finance from the University of Chicago. We recorded this episode live and in person at the annual Morningstar Investment Conference, which was recently held in Chicago.BackgroundBio@CliffordAsnessReturn Environment Antti IlmanenInvesting Amid Low Expected Returns: Making the Most When Markets Offer the Least, by Antti Ilmanen“Demystifying Illiquid Assets: Expected Returns for Private Equity,” by Antti Ilmanen, Swati Chandra, and Nicholas McQuinn, aqr.com, Jan. 31, 2019.“The Illiquidity Discount?” by Cliff Asness, aqr.com, Dec. 19, 2019.“Why Not 100% Equities,” by Clifford Asness, aqr.com, Dec. 1, 1996.“Leverage Aversion and Risk Parity,” by Clifford S. Asness, Andrea Frazzini, Lasse H. Pedersen, aqr.com, January/February 2012.“An Update to Cliff Asness's Study on the Benefits of a Levered 60/40,” by Jeremy Schwartz, wisdomtree.com, May 20, 2021.“Are Value Stocks Cheap for a Fundamental Reason?” by Cliff Asness, aqr.com, Aug. 30, 2021.“The Long Run Is Lying to You,” by Cliff Asness, aqr.com, March 4, 2021.“Quant Legend Cliff Asness Is Back to Defending Value Again,” by Justina Lee, Bloomberg.com, July 15, 2021.“Still Crazy After All This YTD,” by Cliff Asness, aqr.com, May 9, 2022.“Everything and More,” by Cliff Asness, aqr.com, April 4, 2022.“Bonds Are Frickin' Expensive,” by Cliff Asness, aqr.com, Aug. 13, 2019.“Should Taxable Investors Shun Dividends?” by Ronen Israel, Joseph Liberman, Nathan Sosner, Lixin Wang, The Journal of Wealth Management, Winter 2019.ESG“Cliff Asness Says ESG Is Here to Stay Amid Growing Interest,” by Isabelle Lee and Silla Brush, Bloomberg.com, May 17, 2022.“Shorting Counts,” by Cliff Asness, aqr.com, Feb. 23, 2022.“Shorting Your Way to a Greener Tomorrow,” by Cliff Asness, aqr.com, Sept. 7, 2021.“Virtue Is Its Own Reward: Or, One Man's Ceiling Is Another Man's Floor,” by Cliff Asness, aqr.com, May 8, 2017.Taxes“Now There's Nothing Certain But Death,” by Cliff Asness, aqr.com, Jan. 15, 2021.

2 Top Takeaways on the stock market from the 2022 Morningstar Investment Conference. Money Not Math 104 According to Morningstar.com, The Morningstar Investment Conference delivers their signature research, insights, and analysis to professionals who want to empower investor success. The two main takeaways? The first was that despite all blaring headlines you may see (which are designed to scare readers into clicking on those articles), nobody should be surprised by the downdraft in stocks and the rise in bond yields. Valuations had been high and there was lots of froth in the markets. The big declines in both markets are painful but necessary reversals. BlackRock's Kate Moore summed it up well, by noting “a lot of the bubbles have been burst.” That was echoed by Sarah Ketterer, chief executive of Causeway Capital Management. She told Wednesday's session that while stocks and bonds could still fall further, “risk is actually lower than it was a year ago.” The other big takeaway was that there's a growing number of opportunities for long-term investors to take advantage of. We heard this from stock fund managers across the investment strategy spectrum. “When fears of recession manifest in stock prices, it can create some attractive risk-reward opportunities, “ said David Giroux from T. Rowe Price. Remember the value in following fundamentals rather than emotions when it comes to long term investing. Fundamentals= buy low and sell high. Emotions= buy high and sell low until you are broke and there is no where to go. #5stonefinancialgroup #moneynotmath #retirement #retirementplanning #stockmarket #investment #bearmarket #risk #recession #stockprice #reward #opportunities #value #fundamentals #emotions #buylow #sellhigh #money Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. YouTube Video: https://youtu.be/VHeNakzWDr4

Morningstar CEO Kunal Kapoor highlights the tools available to the next generation of investors in his keynote address for the 2022 Morningstar Investment Conference.

Greg McBride, chief analyst for BankRate.com, says that while the site's latest survey shows that few Americans are boosting their stock holdings right now, a majority is still as committed to buying stocks as they were a year ago, with more than half of U.S. investors saying they purposely had made no moves in response to current market volatility. In The Big Interview, Ken McAtamney, who runs the William Blair Global Leaders fund, discusses where there are leading companies -- now often trading at discounts -- amid the current market confusion, David Trainer of New Constructs puts Spotify and Pinterest back into "The Danger Zone" because they still have lots of room to fall despite recent setbacks, and Chuck talks about the four lessons he took away from last week's Morningstar Investment Conference in Chicago.

In this week's podcast, we are featuring guests of the 2022 Morningstar Investment Conference. Mary Ellen Stanek, Joel Fried, and Al Mordecai, winners of Morningstar's 2022 Investing Excellence Awards, share their investing insights.David Blanchett and Christine Benz talk about retirement income. Sonya Dreizler and Phuong Luong dive into the wealth divide. Sarah Bush and Jenny Johnson discuss the future of Franklin Templeton.

David Snowball, founder of MutualFundObserver.com, says that the current market conditions are challenging investors to make sure they have a handle on what they own and why they own it, because they can't depend on the Federal Reserve to manage a soft landing to current economic challenges. It's one of many highlights as Money Life wraps up its coverage from the Morningstar Investment Conference with more pushback to T. Rowe Price manager David Giroux's Day One comments about the perils and follies of international investing coming from Andrew Foster of the Seafarer Funds and Michael Campagna from Moerus Capital. Also on the show, bond fund manager Janet Rilling from Allspring Global and Fidelity's Sammy Simnegar of Fidelity International Capital Appreciation and Fidelity Magellan. Plus Tom Lydon revisits last week's inflation-driven choice by making a stagflation play his ETF of the Week.

Money Life is back for Day 2 from the Morningstar Investment Conference, and the action heats up with more interviews covering wider grounds. A day after T. Rowe Price star manager David Giroux said there's no reason for investors to invest internationally, Chautauqua Capital's David Lubchenco will come back with a counter-attack, talking about how and why foreign stocks are poised to outperform domestics in the next market cycle. Also on the show, Christine Benz of Morningstar on how current market conditions impact retirement planning; two interviews on dividend investing with Scott Davis of Columbia Threadneedle  covering domestic stocks and Sid Bhargava of Matthews Asia on overseas opportunities; Ed Rosenberg of American Century ETFs talks about exchange-traded funds and Jonathan Good of the Baird Funds dives into what's happening with small and mid-cap stocks.

Money Life travels to the Morningstar Investment Conference in Chicago, where David Giroux, portfolio manager for T. Rowe Price Capital Appreciation, kicks things off by saying that most investors have no good reason to buy international stocks, noting that they can instead purchase U.S. multi-nationals, and pointing out that the recent market downturn has made many of those companies significantly more attractive now than they have been in years. The rest of today's lineup from the conference: Will Jacobsen of Toggle.ai -- a fintech investment platform company -- Tony Tursich of Calamos Investments discussing ESG investing, Pete Dietrich of Morningstar Indexes talks about the evolution toward personalized indexing, and Mary Ellen Stanek of the Baird Funds  talks about bond investing in a high-inflation, rising-rate market.

Our guest this week is Mary Childs. Mary is a cohost and correspondent for National Public Radio's Planet Money. Previously, she was a reporter at Barron's magazine and before that, a reporter at the Financial Times and Bloomberg News. She received her bachelor's degree in business journalism from Washington & Lee University. Mary is the author of a new biography about the iconic Pimco bond fund manager, Bill Gross. It's called the The Bond King: How One Man Made a Market, Built an Empire, and Lost It All. We spent this episode delving into the book with Mary's help.BackgroundBioPlanet Money podcastThe Bond King: How One Man Made a Market, Built an Empire, and Lost It All, by Mary ChildsPimco Total Return Analyst ReportEarly Life and CareerBeat the Dealer, by Ed Thorpe“The Strange Billionaire Who Revolutionized the Bond Market,” by Greg Rosalsky, npr.org, March 15, 2022.“Bill Gross Made the Bond Market What It Is Today,” by Mary Childs, barrons.com, Feb. 8, 2019.Psychology and MotivationsJeffrey Gundlach“Gross Friendly to Fannie and Freddie,” by Bloomberg News, investmentnews.com, Oct. 31, 2011.“Pimco Shook Hands With the Fed—and Made a Killing,” by Reuters, cnbc.com, Sept. 27, 2013.“Special Report—The Twilight of the Bond King,” by Jennifer Ablan and Matthew Goldstein, reuters.com, Feb. 9, 2012.“Announcing the Morningstar Fund Managers of the Decade,” by Karen Dolan, Morningstar.com, Jan. 12, 2010.“Fall of the Bond King: How Gross Lost Empire as Pimco Cracked,” by Mary Childs, Bloomberg.com, Dec. 2, 2014.“Inside the Showdown Atop Pimco, the World's Biggest Bond Firm,” by Gregory Zuckerman and Kirsten Grind, wsj.com, Feb. 24, 2014.“Pimco Dissidents Challenge Bill Gross in ‘Happy Kingdom,'” by Mary Childs, Bloomberg.com, July 8, 2014.“Gross: Economy Can't Survive Much Higher Rates,” keynote presentation at the Morningstar Investment Conference, Morningstar.com, June 25, 2014.Gross' Departure From PimcoMohamed El-Erian“Exclusive: Pimco's Gross Declares El-Erian Is ‘Trying to Undermine Me,'” by Jennifer Ablan, reuters.com, March 6, 2014.“5 Years Later: Pimco Total Return,” by John Rekenthaler, Morningstar.com, June 26, 2018.“Pimco in the Post-Gross Era,” by Eric Jacobson, Morningstar.com, Dec. 26, 2017.“Gross Loses Pimco Power Struggle With ‘Stunning' Exit,” by Mary Childs and Alexis Leondis, Bloomberg.com, Sept. 26, 2014.

Listen to a compilation episode recorded live at the #OpenMic podcast station in the Social/Digital Hub at the Morningstar Investment Conference, September 22-24, 2021 at the McCormick Center in Chicago. Marie and Jonny sat down with a handful of conference attendees to discuss the various ways they overcame the challenges caused by the pandemic, including insights into digital communications. Many also discussed highlights and key takeaways from the conference. Special thanks to everyone who joined us! Guests included: David Mehlhorn, Director of Sales, Redtail Technology Allan Roth, Founder, Wealth Logic Joe Cook, Chief Operating Officer, CoastalOne Jaclyn Marshall, Director of Communications, Regiment, LLC Roger Wohlner, Freelance Writer and Journalist Stefania Di Bartolomeo, Founder & CEO, Physis Investment Marianne Rivera, Publisher, WealthManagement.com Walter K. Booker, Chief Operating Officer, MarketCounsel

Attendees, leaders, and experts joined online and in-person for the Morningstar Investment Conference last week. This year's annual conference included insights from our CEO Kunal Kapoor about how one size fits all portfolios are coming to an end. Some of the top fund managers in the industry also shared their perspectives and investment philosophies. Catch up on the discussions and more in this week's podcast. To access all the sessions from the 2021 Morningstar Investment Conference, use code “INVESTORMIC2021” to save $150 off registration.

In this week’s podcast, we are excited to present “Where to Turn When the Political Climate Heats Up,” a discussion with Amy Walter, the National Editor of The Cook Political Report, and Aron Szapiro, our director of policy research. In this discussion from the Morningstar Investment Conference, Walter shares her insights about the political climate and where the race for the president and Congress stand.  Visit go.morningstar.com/MIC to register today for the Morningstar Investment Conference and hear more great insights. 

Also, we're off this week.

Mohnish Pabrai gives the keynote speech at the 8th Morningstar Investment Conference in Mumbai, India on October 24, 2018 and discusses the 10 Commandments of Investment Management.

In the second of a two-part episode, John Husselbee reveals more of the major talking points from his recent visit to the Morningstar Investment Conference in Chicago.

Fresh from visiting Chicago for the Morningstar Investment Conference, John Husselbee reveals some of his key takeaways from this flagship annual event.

Our guest in this special bonus episode of The Long View podcast is Tim Buckley, chairman and CEO of the Vanguard Group, which manages over $5 trillion in assets globally. Tim took the helm at Vanguard in January 2018, succeeding Bill McNabb. Tim is a longtime Vanguard veteran, having joined the firm in 1991. Before assuming his current role, he served as Vanguard’s chief investment officer, head of its retail investor group, as well as its chief information officer. In this mini episode, which was recorded live at the 31st annual Morningstar Investment Conference in Chicago, we discuss the significance of Vanguard's recent Morningstar Award for Investing Excellence, which the firm received for exemplary stewardship. Tim also addressed how Vanguard attempts to balance growth with delivering good outcomes to clients, its capital allocation philosophy and key initiatives, the future of advice, the trend toward "free" funds, as well as the firm's recent forays into sustainable investing, among other topics. Show Notes “It’s the core of Vanguard”: What stewardship and investor-centricity has meant to the firm (0:28-1:20) Defining “client”: How Vanguard balances off the objectives of its different lines of business (1:21-2:51) Incredible scale can’t be taken for granted: Is it enough to just be a fund company? (2:52-4:15) Gazing into our crystal ball: What Vanguard looks like in 10 years and how that compares to today (4:16-5:30) Goal-setting: How Vanguard defines success and how that informs the way they run the business (5:31-6:40) The future of advice: “I can’t imagine anything but the price (for advice) coming down” (6:41-7:24) Embrace technology and personalize: Tim’s counsel to advisors who are trying to adapt to falling advice fees (7:25-8:43) “There’s no one even close to us”: What matters in a “freemium” world is the cost of the whole portfolio (8:44-10:12) Pathways to growth: The future of ESG funds and factor investing and how Vanguard tries to position these strategies to advisors and other markets (10:13-12:40) “All the money flowing to index funds--it’s not because active doesn’t work. It’s because high-cost active doesn’t work” (12:41-14:31) “You can have your cake and eat it, too, in the active ESG approach”: How to succeed with ESG investing (14:32-16:22) Best practices: How Vanguard settled on its approach to ESG investing (16:23-17:02) “We’ve looked”: Vanguard’s approach to capital investment and answering the build-vs.-buy question (17:03-18:26) “Vanguard is defined by its structure, and we’re going to keep it”: Tim on why Vanguard will never de-mutualize (18:27-19:20) References Tim Buckley, chairman and CEO, The Vanguard Group  2019 Morningstar Awards for Investing Excellence: Nominees for Exemplary Stewardship  Winners of the 2019 Morningstar Awards for Investing Excellence  Vanguard founder John “Jack” Bogle  Vanguard’s mutual ownership structure, explained  Vanguard funds snapshot page  Analyst-rated Vanguard Funds  Analyst-rated Vanguard ETFs  “Investing Crosses the Rubicon: Free Index Funds”  “Vanguard: Competitors’ Pricing Behavior is Inconsistent”  “2018 Morningstar Fee Study Finds that Prices Continue to Decline”  “Vanguard: Cost of Advice Could Fall Further” 

In this special edition of the podcast, we’ll focus on what managers and practitioners had to say at the 2019 Morningstar Investment Conference. Three fixed-income experts share their expectations for the bond market, J.P. Morgan’s Anne Lester discusses the risks facing young retirees, T. Rowe Price manager David Giroux reveals where he’s finding opportunities today, Franklin Templeton’s Sonal Desai provides her economic outlook, and Blackrock’s Holly Framsted discusses the value factor.

In this special edition of the podcast, we’ll focus on what managers and practitioners had to say at the 2019 Morningstar Investment Conference. Three fixed-income experts share their expectations for the bond market, J.P. Morgan’s Anne Lester discusses the risks facing young retirees, T. Rowe Price manager David Giroux reveals where he’s finding opportunities today, Franklin Templeton’s Sonal Desai provides her economic outlook, and Blackrock’s Holly Framsted discusses the value factor.

Our guest for this week's installment of The Long View podcast is Morgan Housel. Morgan is a partner at the Collaborative Fund, a venture capital firm that makes investments in firms that in its words are "at the intersection of for-profit and for-good." A former columnist at The Motley Fool and The Wall Street Journal, Morgan has become one of the most prolific and insightful writers on the investment decision-making process, as evidenced by his impressive body of work on the Collaborative Fund website's blog. Morgan joined us in this live recording of The Long View from the 31st annual Morningstar Investment Conference in Chicago. Our interview covered a lot of ground, from how Morgan found his way into the finance world, to the role he plays at Collaborative Fund, to a host of other personal and behavioral finance topics that draw on his work. Show Notes The accidental writer: Morgan's background and how he came to write about financial topics (0:55-3:04) "The ability to write a check is no longer a competitive advantage": What Collaborative Fund does, why Morgan was drawn to it, and the role content plays in its strategy (3:05-5:05) Authorial license: "It's really important to write what … you yourself would find interesting" (5:06-5:58) Transparency and impact: "We're looking for companies whose ability to do good is their competitive economic advantage" (5:59-8:21) Public vs. private investing: "If I made a Venn diagram of public and privates, the overlap is much greater than I ever thought it would be" (8:22-9:19) Theory vs. practice: How private-market "lock-ups" can make sense for individual investors but are still inappropriate for the vast majority (9:20-10:24) The future of public-private investing: "There's some liquidity in private markets but it’s not very efficient" (10:25-11:16) Be honest with yourself: Don't try to fight behavioral biases which can't be eliminated anyway; work around them (11:17-13:13) "That's what works for me": How Morgan reckons with his own behavioral biases (13:14-13:44) Financial advisors' job one? Don't allow events or emotions to interrupt compounding (13:45-15:52) History and psychology: "The most important intersection in investing" (15:53-18:24) Scarred, not complacent: Investors are still licking their wounds from the global financial crisis (18:25-20:12) You can't shake investors out of their experiences; it takes a new generation to come along (20-13-21:17) "There’s no other industry in the world where the rewards are as big as in finance": How big paydays can distract focus from everyday work (21:18-23:42) How fee arrangements can impact portfolio managers' risk and reward calculations (23:43-24:26) Avoiding confirmation bias and bringing in diverse perspectives: "Find someone who you admire their thought process in one aspect of thinking … but you disagree with them about something else" (24:27-26:10) A crank whose views Morgan respects--"Jake" on financial Twitter (@econompic) (26:11-26:45) "No one hires a luck manager": Morgan explains how investors tend to account for risk, but not luck, in their decisions (26:46-29:17) "Investing isn't the study of finance. Investing is the study of how people behave with money." Morgan explains why he doesn't read investing books (29:18-30:03) How people deal with uncertainty and opportunity: The importance of content aggregators and of ditching bad books (30:04-31:14) Perishable: Morgan's favorite non-investing book of the last few years is about how much things can change, on average, in everyday life (31:15-33:03) "You're not proven until you've survived a calamity": Why it’s so hard to distinguish skill from luck (33:04-35:16) Good advice (that Morgan doesn't follow himself): Carry a little bit of debt to hone your focus (35:17-36:56) "You have to pay the fee": How thinking of volatility as an ongoing price for the opportunity to grow capital can help investors put risk in the right context (36:57-38:56) Are investors giving up on investment skill? Yes, but that’s probably OK (38:57-40:41) The importance of financial planning: Telling clients the truth (i.e., that they're not on a path to a secure, comfortable retirement, not matter how much they want to believe otherwise) (40:42-43:09) On Jack Bogle: "The biggest undercover philanthropist of all time." (43:10-44:48) What matters is how well you behave: The psychology of investing (44:49-45:41) References The Collaborative Fund blog Morgan Housel’s collected works Morgan Housel, bio “You Played Yourself” by Morgan Housel (Apr. 24, 2019)  “You Have to Live it to Believe It” by Morgan Housel (Apr. 9, 2019) “Useful and Overlooked Skills” by Morgan Housel (May 1, 2019) Jake (@econompic) and Econompic Patrick O’Shaughnessy, “The Investor’s Field Guide” Abnormal Returns “The Big Change: America Transforms Itself 1900-1950” by Frederick Lewis Allen Books recommended by Charlie Munger “Origins of Greed and Fear” by Morgan Housel (Jan. 31, 2019) George Soros “A Man in the Mirror” by William H. Gross (April 2013) 10-year Treasury Rate “Counterintuitive Competitive Advantages” by Morgan Housel (Mar. 13, 2019) “Fees vs. Fines” by Morgan Housel (Apr. 2, 2019) “Statement of Principles” by Jason Zweig “When You’ll Believe Anything” by Morgan Housel (Apr. 15, 2019) Jack Bogle Morgan Housel’s tweet about Jack Bogle About the Podcast: The Long View is a podcast from Morningstar. Each week, hosts Christine Benz and Jeff Ptak conduct an in-depth discussion with a thought leader from the world of investing or personal finance. The podcast is produced by George Castady and Scott Halver. About the Hosts: Christine Benz and Jeff Ptak have been analysts and commentators on investments and the investment industry for many years. Christine is Morningstar's director of personal finance and senior columnist for Morningstar.com. Jeff is head of global manager research in Morningstar Research Services, overseeing Morningstar's team of 120 manager research analysts in the U.S. and overseas. To Share Feedback or a Guest Idea: Write us at TheLongView@morningstar.com

It's another banner line-up of experts from the Morningstar Investment Conference, as Chuck talks to Kari Droller from Charles Schwab, deep-value manager Amit Wadwhanney from Moerus Capital, alternatives expert Josh Vail of 361 Capital, Brian Milligan from Ave Maria Growth fund, quantitative analyst Joe Mallen of Helios, income specialist Bryce Fegley of Sextant global High Income, muni-bond manager Bob DiMella of Mackay Shields, Natixis' chief market strategist David Lafferty, and a special surprise guest to wrap it all up.

A colossal lineup from the Morningstar Investment Conference in Chicago features Judy Ward of T. Rowe Price, Mona Mahajan of Allianz Global Investors on the markets, Alex Pire of Seeyond talking minimum-volatility investing, Beini Zhou of Matthews Asia Value discussing his reaction to recent presidential tweets about trade wars, Ira Rothberg of Hennessy Focus Fund on valuations and patience, Jeff Holt of Morningstar discussing the firm's latest study of target-date fund, Michael Falk of Focus Consulting Group on the evolution of the Morningstar event itself, Alan Adelman of Frost Investment Advisors talking mid-cap stocks, and value investor Abhay Deshpande of Centerstone Investors discussing why Europe may be worth buying now, when most market observers hate it..

On the first day of interviews from the Morningstar Investment Conference, Chuck covered a wide range of subjects with five different experts, highlighted by Brian Levitt of OppenheimerFunds, who was bullish on the domestic and emerging markets, but realistic about the upcoming election year posing potential problems. Still, he noted that investors should not be swayed by election-related news, as 'Hating the government is not an investment strategy.' Also on the show, Tom Lydon of ETFTrends doing a live variation on his ETF of the Week, Mary Ellen Stanek of Baird Funds, Rich Woodworth of PGIM Investments, and Kristen Mierzwa of FTSERussell.

At the Morningstar Investment Conference in London, Gina Miller tells Emma Wall why she is fighting for tactical Brexit voting in the upcoming UK General Election Morningstar Guest: Gina Miller, Founder SCM Direct Subscribe to our podcast on itunes: https://itunes.apple.com/gb/podcast/morningstar-uk/id965873075?mt=2 http://www.morningstar.co.uk

Welcome to the podcast from Morningstar UK, the leading provider of independent investment research. It’s our final podcast of 2016 so what better way to finish the year off than to share our most popular content on Morningstar.co.uk - the top 10 of 2016. To get us started, at number 10 we have Old Mutual UK Alpha fund manager Richard Buxton giving his 3 stock tips. At number 9, Chris Rice from Sanditon Asset Management, who we interviewed in May this year at our Morningstar Investment Conference in London, warns viewers to hold cash and prepare for a market crash as he believes recession looms. It’s not surprising that one of the topics that have most concerned investors this year is Donald Trump’s victory in the US Presidential election. Coming in at number 8, Senior editor for Morningstar.co.uk Emma Wall and Dan Kemp, Chief investment Officer for Morningstar Investment Management brought us the breaking news on the election result and what it means for investors. Back in April we interviewed Alex Wright, Manager of the Fidelity Special Situations Fund who gave us 3 under-valued stock picks, including Lloyds Bank. His interview comes in at number 7. Brexit has been another key theme for investors in 2016 and it comes in here in 6th place. Dan Kemp brought us his interpretation of the news saying investors needed to keep cool heads amid the political and financial uncertainty. Coming at number 5 it’s another 3 stock picks interview, this time with Gold rated investor Job Curtis who gave us three income stocks for sustainable dividends back in June. At number 4 it’s Brexit again! This time Senior Editor Emma Wall describes how Britain's vote to leave the European Union seems to tie in with a feeling across the Western world – a rebellion against globalisation and those in power. At number 3 Paul Swinand, Equity Analyst for Morningstar talks us through how a variety of headwinds that hit the global luxury sector have started to ease off and that some luxury goods companies are starting to look attractive again. The popularity of ETF’s and tracker funds is soaring in the UK and our second most popular interview this year was that of Passive fund Analyst Kenneth Lamont explaining the key differences between an ETF and a tracker fund. So, now to reveal the top spot – what Morningstar.co.uk content will be crowned the most popular of 2016? And the winner is - ‘What is a Fund?’, part of our back to basics series designed to help new investors understand the investing world. And that’s it from the Morningstar podcast for 2016. It has been our pleasure to provide you all with news, views and education on personal investing this year. From everyone here at Morningstar UK, have a Merry Christmas and a very happy new year. We look forward to seeing you in 2017! Subscribe to our podcast on itunes: https://itunes.apple.com/gb/podcast/morningstar-uk/id965873075?mt=2 http://www.morningstar.co.uk

This month we bring you the very best from our Investment Conference, featuring views from the brightest money minds around. First up, what the experts think of the different global investment regions. In the UK interest rates have been at a record low level for more than six years but it is looking increasingly likely that the Bank of England will raise rates within the next year. Morningstar Editor Emma Wall speaks with J O Hambro’s Clive Beagles about Which Income Stocks Will Benefit from an Interest Rate Rise. Lets now get an update from across the channel. Henderson European equity investor John Bennett speaks with Emma about how euro weakness is good for stock markets and that if the euro strengthens it will quickly halt any outperformance. Is it Time to Sell US Equites? Federal Reserve chief Janet Yellen has said that US equities look fully valued and interest rates are due to rise imminently. Emma Wall and US Equity Fund manager for Artemis Cormac Weldon discuss if investors should be curbing their US exposure. For an Emerging markets update, we were extremely pleased to have Dr. Mark Mobius of Franklin Templeton speak to us at the Morningstar Investment Conference. Dr Mobius tells investors not to be put off by negative headlines and that Africa Offers the Best Emerging Opportunities. Retirement was a key theme at the M* investment con¬ference this month. Many investors are confident they're saving enough for retirement. When it comes to an income in retirement we found the public prefer income drawdown strategies to an annuity. Conversely on the other side of the Atlantic, American investors are turning to annuities to provide a steady stream of income in retirement. We get a view from Morningstar’s own Matthew Radgowski, on What Pension Savers Can Learn from US Investors.