What Investment Factors Work for Stocks?
Volatility, size, and momentum, say Morningstar's quantitative researchers.
Rekenthaler Report
The Great Investment Industry Roll-Up
Gradually, its inefficiencies are being competed away.
Investment Adages That Don't Make Sense
Yet they will not become extinct.
Reinvesting Matters! (A Great Deal)
As does being careful when interpreting charts.
Comparing Asset Allocations: Fund Investors Versus Pension Plans
Their aggregate decisions aren’t so very different.
What Makes a Fund Company Excellent?
The critical item is the hardest to measure.
Dear Active Manager: Can I Reinvest?
When scale becomes a problem, even the greatest fund isn’t all that great.
Investment Signals Would Be Great, If They Worked
Their stories are compelling, but their results are not.
How Have the Largest Funds Performed?
Pretty well, all things considered.
Passive, Active, ... Whatever
Low costs drive superior stock-fund results, not indexing.
Vanguard Won the Loser's Game
How an outsider conquered the fund industry.
Mutual Funds: Where Fun Came to Die
The industry is better than ever--but also duller.
Indexing Outside the International-Stock Mainstream
As the investment universes become smaller, the complications increase.
Revisiting International Equity Indexing
The case for indexing overseas is stronger than first appears.
Anarchy in the U.K.
Active management's dangerous infatuation with private-placement securities.
Using the Ownership Lens to Select Funds
Practical considerations for using the new statistic.
Predicting Mutual Fund Returns With the Ownership Lens
A measure invented in 2005 gets retested--and passes with flying colors.
The Best Predictor of Stock-Fund Performance
It appears to be as powerful as it is unknown.
The Capital Markets (We)Work
In a healthy financial system, some IPOs will fail.
Where Are the Economies of Scale?
Morningstar’s global study demonstrates that when funds become bigger, they don't necessarily become cheaper.
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