Samuel Lee | Morningstar

Why Passive Investing Makes Even More Sense in Inefficient Markets

Jan 27, 2015

In an efficient market, your expected losses are whatever fees you pay. In an inefficient market, your expected losses include returns you give up to faster and better investors.

ETF Specialist

How Do Fidelity's New Bond Exchange-Traded Funds Stack Up?

Jan 20, 2015

Fidelity follows PIMCO's footsteps in launching actively managed bond ETFs.

ETF Specialist

The Best U.S. Equity Factor ETFs

Dec 24, 2014

The exchange-traded fund universe is as vast and absurd as a Las Vegas buffet. Here's how to pick the best factor funds.

ETF Specialist

Why Conventional Commodity Indexes Will Likely Disappoint

Dec 11, 2014

A look at the true drivers of commodity futures returns shows that popular indexes like the GSCI are lacking.

ETF Specialist

Junk Bonds: Go Active, or Don't Go at All

Dec 2, 2014

With a few exceptions, it's a terrible mistake to own a passive fund that tracks an illiquid market, writes Morningstar’s Sam Lee.

ETF Specialist

A Deep-Value Quantitative Hedge Fund Strategy

Nov 21, 2014

A look at finance professor Wesley Gray's new exchange-traded fund.

ETF Specialist

The Uses and Misuses of the Style Box

Nov 19, 2014

The style box is a simple representation of a complicated reality.

ETF Specialist

Still Excellent Without Bill Gross

Nov 14, 2014

An analysis of PIMCO Total Return ETF.

ETF Specialist

What Robo-Advisors Really Bring to the Table

Nov 12, 2014

These web-based advisors are more hype than substance for now.

ETF Specialist

Is Quality Cheap?

Oct 14, 2014

Yes.

US Videos

Complexity Doesn't Equal Value

Sep 19, 2014

A cheap, rules-based, quantitative approach that minimizes behavioral biases is a better bet over time than overly complex strategies, says Alpha Architect founder and Drexel professor Wes Gray.

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Faber: Income Investors Shouldn't Overlook Buybacks

Sep 19, 2014

Given how expensive dividend stocks have become today, it's even more important for yield-seeking investors to also consider buybacks in order to maximize their returns, says Cambria's Mebane Faber.

ETF Specialist

An Aggressive Quality and Value Dividend Fund

Sep 17, 2014

A deep dive into the inner workings of iShares Core High Dividend.

ETF Specialist

Finding the Right Advisor or Trustee

Aug 26, 2014

It's all about low costs, a sensible strategy, and sound ethics.

ETF Specialist

The Trouble With Discount Rates

Aug 12, 2014

Picking the right discount rate is harder than many think.

ETF Specialist

Diversification for the Sake of Diversification

Aug 1, 2014

Vanguard's Total International Bond exchange-traded fund is a poor investment today.

ETF Specialist

Robo-Buffett Funds on the Cheap

Jul 30, 2014

State Street's newly launched MSCI Quality Mix exchange-traded funds offer good value.

ETF Specialist

The Trade-Off Between Diversification and Knowledge

Jul 22, 2014

And when to make big bets.

ETF Specialist

Scrounging for Yield Is Dangerous

Jul 8, 2014

High-yield bonds are expensive, but if you absolutely demand high income, here's a closed-end fund to consider.

ETF Specialist

Faber: Why Market-Cap Weighting Falls Short

Jun 24, 2014

Cambria founder Mebane Faber talks to Morningstar’s Sam Lee about his fund’s global value strategies and what he is buying in his personal portfolio.

ETF Specialist

The Right Reason to Buy Into Vanguard's Classic Dividend Strategy

Jun 13, 2014

Don't buy it for its dividends or perceived safety; buy it because you think value and quality strategies work.

ETF Specialist

The Best Fixed-Income Investment

Jun 11, 2014

Bank CDs, not funds, currently offer a better bang for your buck.

ETF Specialist

The Inner Workings of a Quant Contrarian Strategy

Jun 10, 2014

Finance professor Wesley Gray discusses his upcoming actively managed value ETF.

ETF Specialist

Are Stocks Expensive? The 2 Perspectives.

Jun 3, 2014

How you value the market depends on your time horizon.

ETF Specialist

A Better Way to Intrinsic Value

May 27, 2014

Focus on expected returns from conservatively forecast cash flows and not on the false precision of academic models, writes Morningstar’s Sam Lee.

ETF Specialist

A Strategy With Literally Fantastic Returns

May 16, 2014

Don't buy it.

ETF Specialist

Levels of Thinking

May 13, 2014

Getting out of level one.

ETF Specialist

Buybacks: Another Name for Quality

May 6, 2014

Using the latest factor research to identify the drivers of PowerShares Buyback Achiever's outperformance.

ETF Specialist

A Come-to-Buffett Moment

Apr 29, 2014

Eugene Fama and Kenneth French's new five-factor model buries the value factor. What does it suggest about market efficiency?

ETF Specialist

Yield Sucker Bet

Apr 25, 2014

A look at the biggest exchange-traded fund of closed-end funds.

ETF Specialist

Understanding Intrinsic Value

Apr 23, 2014

The most important idea in investing.

ETF Specialist

Rarer Than Rare

Apr 22, 2014

Eugene Fama and Kenneth French's study on the distribution of manager skill.

ETF Specialist

Another Look at a Popular Dividend Growth Fund

Apr 15, 2014

Using the latest factor research to identify the drivers of Vanguard Dividend Appreciation's outperformance.

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Be Thankful for High-Frequency Trading

Apr 8, 2014

Despite the criticisms, high-frequency traders make the market more efficient, allowing for the viability of vehicles such as ETFs, says Morningstar's Sam Lee.

ETF Specialist

Capital Destruction, Inc.

Apr 1, 2014

A look at mortgage REITs.

ETF Specialist

Fool's Gold?

Mar 28, 2014

After three consecutive years of negative returns, it might be gold miners' time to shine.

ETF Specialist

A Better Fundamental Index

Mar 25, 2014

Schwab's newest fundamental-index exchange-traded funds.

ETF Specialist

Buffett's Latest Letter

Mar 18, 2014

A hodgepodge of my thoughts on Buffett's shareholder letter.

ETF Specialist

Broken?

Mar 11, 2014

Another look at Shiller P/E.

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2 CEF Mistakes to Avoid

Mar 6, 2014

Investors need to take caution with public offerings and monitor CEF pricing inefficiencies, says ETFInvestor editor Sam Lee.

ETF Specialist

The Good, the Bad, and the Ugly

Feb 28, 2014

The best and worst new ETFs of 2013.

ETF Specialist

Understanding Factor Models

Feb 26, 2014

A primer on how linear factor models are used to look at fund manager performance.

ETF Specialist

Understanding Factors

Feb 25, 2014

A short primer on risk and return.

US Videos

Should You Follow the Momentum Into Strategy ETFs?

Feb 18, 2014

Myriad strategy ETFs have come to market, but investors' allocations to these vehicles should depend on comfort level, says ETFInvestor editor Sam Lee.

ETF Specialist