Elizabeth Collins

… incorporate the deal into our Sasol forecast and valuation shortly, although we don't expect a material change, given the small size of the deal relative to Sasol's total enterprise value. Elizabeth Collins , CFA, contributed to this note.

So, the  Elizabeth Collins  is going to Downgrade Monsanto.  I guess the stock price is now under 50% of Morningstar's Fair Value estimate, triggering an automatic review.  I'm not sure what could possess a non-lobotomized adult to give Monsanto a target value of $122 dollars a share.  Then again, Morningstar doesn't like to revisit its' fair value assumptions until the markets make them look silly, i.e. over twice what the market is estimating.  My advice to Elizabeth: pick a more reasonable number, say 65-70 bucks a share (altering the uncertainty rating arbitarily is also a good way to claim you didn't totally blow your call, which you did), and then move your assumptions around until you can reproduce that number.  Oh, wait, Morningstar's analysts don't even list all the assumptions used in their valuations.  Scratch above comment.  Elizabeth, just pick a number out of a hat.  I can't imagine what possessed me to pay for Morningstar's stock analysis over the last 2.5 years. However, I've learned my lesson.  Do your own valuations, or buy mutual funds/ETFs.  It's become crystal clear to me that conflict of interest is not the only reason Morningstar's analysts can't own their coverage lists.  They would also have to eat their own cooking.  Ouch.  No one cares for your money like you do.  Don't waste it on these fools.  To the fools at Morningstar:  Your stated method of valuing stocks is no better than the other shops, whom you always criticize for being too short cited (I'm sure they also had a good laugh when you guys were stating the market was priced at 55% of fair value toward the end of '08, Ouch).  As for your oft repeated statement that your picks out-perform the markets, so what.  EVERY shop says that, and NOBODY will/can produce the actual data to back those assertations up.  It certainly hasn't been MY experience that Morningstar's picks can outperform the markets.    I had to pay $250 bucks, plus the money I flushed down the toilet to learn the above, but, oh well, I least I CAN LEARN.  At least I don't have to spend the rest of my career attempting to sell steakless sizzle, in the form of the claim that I can help retail investors beat the market.  Mr. Bogle is right, the financial services industry is bloated, overpriced, and full of companies that function as ticks on the backs of retail investors, sucking and giving nothing of value in return.  Do America, and yourself a favor, don't buy their overpriced products, don't pay for their useless analysis, and, most importantly of all, don't listen to their endless blather on economic outlooks.  They don't know what the future will bring, and they never will.