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.

50

John Brick wrote about the source of

[The] moat stems from strong brand recognition and dominant cost advantages. Nike is one of the best-known sports brands in the world and has become synonymous with performance and innovation, backed by superior product-development technology and marketing efficiency. The company holds a leading market position in North America (50%) and China (19%), a growing position in Europe and emerging markets, and a dominant share of major sport industries like basketball, where it has an approximate 90% market share.

6 Reporting from the Morningstar ETF Conference, Susan Dziubinski looked at the six big questions around low-volatility investing.

2 Joe Davis in a keynote address at the Morningstar ETF Conference talked about the importance of the changing nature of work and how it will impact the economy. He thinks technological change will have a number of major impacts, one being a further reduction in the unemployment rate.

There will be more automation but we will still see labor shortages. The number of robots will double, but an aging population and strong demand means we will be short. Unemployment could go into the 3% range next year and even as low as 2% in 2019 if there is no recession.

1,300 Kris Inton took a deep dive into gold prices. He thinks investment demand from ETF inflows is what is keeping prices high today.

Prevailing prices of nearly $1,300 per ounce have limited fundamental support. Continued rate hikes threaten to reverse last year's near-record ETF inflows, as still-manageable inflation would push real interest rates well above levels that attract investor interest. We expect gold prices to fall in the remainder of 2017 and into 2018 before increased Chinese and Indian jewelry demand catalyzes a rebound. Investor outflows can strike suddenly, but a full recovery in jewelry sales will take time.

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