Jeffrey Ptak

Winning funds have kept on winning while losing funds have continued to lag in recent years. Have the rules changed?

The co-founder, chairman, and CIO of Magellan Financial on "duration arbitrage" and how he's built his flagship global-equity portfolio.

How the fund industry has changed, whether ETFs will rule the roost, and the perils of fund-company mergers.

The accomplished T. Rowe Price Capital Appreciation Fund manager on making good macro calls, finding quality income, and more.

Overrated? Story stocks like GameStop. Underrated? Frictions, boredom, and paralyzing confusion.

Gerard O'Reilly on why he’s keeping the faith in cheap stocks and why the firm is launching ETFs now.

Funds that doubled usually lost money in the ensuing years, a worrisome portent for the funds that gained 100% or more in 2020.

Funds courting less ESG risk topped their indexes more often than funds courting more ESG risk in a topsy-turvy 2020.

Here are some key things to consider when thinking through investment decisions.

The star rating appears to succeed in steering investors toward funds likelier to outperform their average peer and away from those more likely to lag.

Allianz’s chief economic advisor on how to address economic 'sudden stops,' the correct fiscal and monetary policy response to the coronavirus, and the outlook ahead.

What types of funds fared better or worse?

We examine the effects of the bear market.

It's fine to feel a little freaked out. But avoid changing up your retirement plan investments in haste, without forethought.

The average dollar invested in mutual funds has outgained the average fund. Why? Cheaper U.S. stock funds have crushed.

Active funds tasted success a bit more often in 2019. But most still lagged the indexes.

We highlight some of the most indelible moments from our newest podcast.

Investors are supposed to chase performance, right? They're not.

A medley of some of the best lines our star-studded roster of guests has given us thus far.

We share the changes and provide a helpful example.

We look at recent research and results before fees.

Downgrades would outnumber upgrades with costlier share classes likelier to take a hit.

The Research Affiliates founder thinks "value" is cheap, sees shades of the 2000 tech bubble in today's market, and takes issue with multifactor investing, among other matters.

Don't settle for reassurances. Ask active fund managers to explain how they'll deliver the value they purport to add after fees.

The answer is--almost certainly not. But it never hurts to check.

We’re enhancing the Morningstar Analyst Rating and Morningstar Quantitative Rating to make them even more useful to investors.

The ratings have performed pretty well, but there are opportunities for improvement.

Vanguard's CEO on balancing growth with delivering good client outcomes, the future of advice, and the trend toward "free" products.

The fund loaded-up on private equity and debt, then had to convert into a closed-end fund amid a liquidity crunch.

Jeff Ptak speaks with the firm's Tim Buckley about stewardship and the Vanguard of the future.

Our research finds that “hired” funds underperformed “fired” funds in future periods, on average.

Cheaper, "unbundled" funds succeed far more often than pricey, "bundled" offerings.

In his 2018 keynote to the Morningstar Investment Conference India, Jack Bogle says advisors should focus on diversification, stability, and costs.

What really defined Jack Bogle--perhaps because it was his most relatable quality--was his sheer determination, writes Morningstar's Jeff Ptak.

Pre-fee returns are sliding, funds are performing more alike, and the 'wrong' styles are leading.

Persistence studies suggest you need to outperform like clockwork to be elite. Balderdash!

Managers have shown skill over the last twenty years, but on the whole have failed to deliver value for investors.

Fewer, cheaper funds are better for investors (and, long-term, for the industry, too).

Our research finds that fees are likely to remain as reliable a guide to future performance as any.

Harbor International Fund investors are getting soaked with taxable gains equivalent to around 38% of NAV.

Fidelity's move has more symbolic than economic significance, signifying important shifts underway in the fund industry.

Investors captured a greater share of the returns of funds that succeeded in balancing risk and reward.

The direction of investor flows and market returns--not behavior--appears largely to account for differences in dollar-weighted returns.

The lack of crazy euphoria in the market today may mean the market could bump along versus seeing a precipitous, sudden decline.

Jeremy Grantham suggests avoiding the U.S. equity market and keeping bond duration short.

The rise of giant capital light businesses has stalled the cycle of regression to the mean of corporate returns on equity, says GMO's Jeremy Grantham.

The oil industry's decision to not grapple with climate change means those firms will grow at a slower clip than the broader markets, says Jeremy Grantham.

CEO Walter Bettinger says enabling technologies can help advisor practices be more efficient and deliver a better client experience.

Is low-cost really the "new past performance"?

It measures differences, but differences aren’t the same as skill.