Skip to Content
Rekenthaler Report

Five Years Later

The investment landscape after Lehman's Collapse.

Mentioned: , ,

Lessons of the Half Decade
I won't join my fellow pundits in drawing economic, regulatory, and political lessons from Lehman's September 2008 bankruptcy. It may be that the Volcker Rule is sensible; that Fannie Mae and Freddie Mac should be dismantled; and that the Federal Reserve's post-recession response has been appropriate. Or the reverse. It is not for me to know. 

Also, sacrilege as it might be to write, those topics aren't particularly relevant for an investment column. As Bill Gross demonstrated with his 2009 prediction of the "New Normal," which was spectacularly correct in forecasting the sluggish economic future and spectacularly wrong in arguing against buying stocks on the current dip, there's not much connection between economics and investments.  Fidelity Magellan's (FMAGX) Peter Lynch has it right when he said that 15 minutes spent per year thinking about economics was 10 minutes too much. 

John Rekenthaler does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.