Morningstar Runs the Numbers

Inspired by Harper's Index (with a tip of the hat to FiveThirtyEight's Significant Digits blog), Morningstar Runs the Numbers uses a numbers-based approach to highlight recent Morningstar research, along with some outside news stories.

4 So far in 2017, we've seen a shift in asset class performance from what we saw at the end of 2016. In this video, director of economic analysis Bob Johnson takes an in-depth look at the four factors he thinks are driving these shifts.

2

With the market bracing for the worst after negative updates from other athletic apparel/footwear companies,

"We [are] optimistic about Nike's prospects for two reasons … [that we believe] will drive future demand and pricing power and support our five-year outlook calling for average annual revenue growth of 8%-9% and operating margins pushing 18% (versus 14% in fiscal 2017)."

3 The foreign large-growth Morningstar Category has been a tough sell lately. Though funds in the category have gained a modest edge over their foreign large-value counterparts in 2017 through March 20, they still substantially lag since the start of 2016. Senior analyst Greg Carlson looks at three highly rated funds in the category that have struggled, but may be ripe for a comeback.

"A trio of the medalists in the foreign large-growth category struggled, including Silver-rated Artisan International (ARTIX), Bronze-rated Fidelity International Discovery (FIGRX), and Bronze-rated Fidelity Diversified International (FDIVX). The recent underperformance of these three funds is certainly disappointing, but it doesn't indicate that they are fundamentally flawed. Indeed, they may be due for a bounceback, but, more importantly, their long-term prospects remain attractive."

$17 Million If you've driven in a major U.S. city in the past few years, you may have been the unlucky recipient of a "red light camera" traffic ticket. Chicago motorists will now benefit from a longer grace period between the time the light turns red and the camera flashes--from 0.1 second to 0.3 seconds, the Chicago Tribune reported. The city said the new standard is on par with New York City and Philadelphia.

"A city Transportation Department spokesman said that the longer grace period, which will go into effect immediately, will cut the number of tickets issued by about 29 percent and result in an expected revenue loss of $17 million this year."

2 Not every investor needs a product that offers explicit inflation protection. But investors with a shorter time horizon or those who are already drawing income from their retirement portfolios might have a growing need to preserve their long-term purchasing power. Senior editor Karen Wallace examines two popular inflation-fighting tools: Treasury Inflation-Protected Securities and I Bonds.

3 It's hard to argue with health savings accounts' tax advantages. They are the only savings vehicle in the whole tax code that offer triple tax benefits: They allow for pretax contributions, tax-free compounding, and tax-free withdrawals for qualified medical expenses. But unfortunately, HSA expenses and/or shortcomings on the investment front can erode the accounts' prodigious tax benefits. Director of personal finance Christine Benz outlines three options for investors whose employer-provided HSA is lacking.

2/3 In a report in Science, researchers from Johns Hopkins University suggested that as many as two thirds of mutations in cancer cells are caused by random errors in cell division that can't be avoided. Meanwhile, across all cancer types, environmental and lifestyle factors, such as smoking and obesity, contribute to 29% of cancer mutations, and 5% are inherited.

"That finding challenges the common wisdom that cancer is the product of heredity and the environment… Such random mutations build up over time and help explain why cancer strikes older people more often. Knowing that the enemy will strike from within even when people protect themselves against external threats indicates that early cancer detection and treatment deserve greater attention than they have previously gotten."

5 Senior analyst Jim Sinegal explores the five most important factors influencing financial stocks. (And although interest rates and regulation certainly made our list, they aren't the most important factors, in our view.)

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