Morningstar
Investment Conference

See the Future of Investing

The Morningstar Investment Conference is designed to help investing professionals recognize lessons from the past, understand what’s happening right now, and peek around the corner to see what’s next.

2020 U.S. Speakers

The conference brings together some of the financial industry’s top minds.

Rupal Bhansali

Ariel Investments

Bhansali is Chief Investment Officer and Portfolio Manager for Ariel’s international and global equity strategies. In this capacity, she manages approximately $7 billion in portfolios for both institutional and retail clients.

Her career and investment approach can be described in one word: “Unconventional.” Unlike most long-only managers, Bhansali's buyside career began over 20 years ago on the long-short side at Soros Fund Management. This formative experience taught Bhansali how to think about both the long and short sides of a trade. She is among the rare breed of value managers who has outperformed her benchmarks during the last two decades.

Bhansali credits her uncommon investment success to her uncommon investment process--one where non-consensus thinking and the courage to go against the grain play a pivotal role. It is not surprising that Barron's christened her a "Global Contrarian," Forbes called her a "Global Guru," and PBS’ Consuelo Mack referred to her as an “unconventional thinker.” In January 2019, Bhansali became the newest member of the prestigious Barron’s Investment Roundtable, which showcases “10 of Wall Street’s smartest investors.” Bhansali was named the 2019 North America Industry Leadership Honoree by 100 Women in Finance, a global network of professional women and men in the finance and alternative investment industries. She is also the author of the book, Non-Consensus Investing: Being Right When Everyone Else Is Wrong, published by Columbia Business School Publishing.

Bhansali earned a bachelor’s degree and a Master of Commerce degree in finance from the University of Mumbai. She later earned an MBA in finance from the University of Rochester, where she was a Rotary Foundation Scholar.

Cathy Curtis

Curtis Financial Planning

Cathy Curtis is the founder and CEO of Curtis Financial Planning, an independent RIA based in the San Francisco Bay Area since 2001. Her firm’s mission is to help women reach their goals and create lives they love through smart financial planning and investing. Curtis helps educate women about personal finance as a member of the CNBC Digital Financial Council and as a frequent public speaker and social media influencer.

Larry Fink

BlackRock

Laurence D. Fink is Founder, Chairman and Chief Executive Officer of BlackRock, Inc. He and seven partners founded BlackRock in 1988, and under his leadership, the firm has grown into a global leader in investment and technology solutions to help investors build better financial futures. Today, BlackRock is trusted to manage more money than any other investment firm in the world. Mr. Fink has been named one of the "World's Greatest Leaders" by Fortune, and Barron's has named him one of the "World's Best CEOs" for 13 consecutive years.

Prior to founding BlackRock in 1988, Mr. Fink was a member of the Management Committee and a Managing Director of The First Boston Corporation. .

He serves as a member of the Board of Trustees of New York University (NYU) and the World Economic Forum, and is Co-Chairman of the NYU Langone Medical Center Board of Trustees. In addition, he serves on the boards of the Museum of Modern Art, and the Council on Foreign Relations. He also serves on the Advisory Board of the Tsinghua University School of Economics and Management in Beijing and on the Executive Committee of the Partnership for New York City. .

Mr. Fink earned an MBA with a concentration in real estate from the University of California at Los Angeles (UCLA) in 1976 and a BA in political science from UCLA in 1974.

Michael Jantzi

Sustainalytics

Michael Jantzi is the CEO of Sustainalytics. He was the founder of Jantzi Research and has been active in the responsible investment field since 1990. Jantzi is a thought leader on sustainability investment and corporate social responsibility issues and regularly appears in the global media. He is the co-author of The 50 Best Ethical Stocks for Canadians: High Value Investing, published by MacMillan Canada.

Over the years Jantzi and his team have been recognized for their research excellence and for being champions of sustainable and responsible investment globally. In 2006, Jantzi Research won the Capital Markets Award for Sustainable Investment & Banking, awarded by the GLOBE Foundation and The Globe and Mail as part of the prestigious GLOBE Awards for Environmental Excellence program. In June 2010, Jantzi was awarded the Lifetime Achievement Award by the Social Investment Organization (now the Responsible Investment Association) in recognition of his contributions to the Canadian sustainable and responsible investment market through leadership, initiative, collaboration and innovation. He was named one of Canada’s “Clean50” leaders in 2012 and again in 2020, and he was also awarded the prestigious Canada Clean16 award in the Finance and Services category for his significant contributions to the causes of sustainability and clean capitalism in Canada.

Under Jantzi’s leadership, Sustainalytics has been recognized as one of the top two responsible investment research firms in the world by the Independent Research in Responsible Investment (IRRI) survey for the last seven consecutive years and has also won several Environmental Finance and Climate Bonds awards for its work with green bonds. RIA Canada recently recognized Sustainalytics as a Leader in ESG Integration.

For more than a decade, Jantzi has served as a member of the Finance and Investment Committee of Tides Canada. He was appointed to the Board of Directors in 2018. Jantzi was also recently elected to the PRI (Principles for Responsible Investment) Board of Directors. Jantzi holds degrees from the University of Western Ontario and Dalhousie University.

Rezo Kanovich

Artisan Partners

Rezo Kanovich is a managing director of Artisan Partners and the sole portfolio manager for the Artisan Non-U.S. Small-Mid Growth Strategy, including Artisan International Small-Mid Fund. Prior to joining Artisan Partners in October 2018, Kanovich was a portfolio manager for OppenheimerFunds, where he managed the International Small-Mid Cap strategy from January 2012 to 2018. Before that, Kanovich worked as an analyst with Boston Biomedical Consultants, an investment banker with the Lehman Brothers mergers & acquisitions team and as a consultant at PricewaterhouseCoopers. Kanovich holds a bachelor’s and master’s degree in international economics and finance from Brandeis University and a master’s degree in business administration, dual concentration in finance and health care systems, from the Wharton School, University of Pennsylvania.

Kunal Kapoor

Morningstar

Kunal Kapoor, CFA, is chief executive officer of Morningstar. Before assuming his current role in 2017, he served as president, responsible for product development and innovation, sales and marketing, and driving strategic prioritization across the firm.

Since joining Morningstar in 1997 as a data analyst, Kapoor has held a variety of roles at the firm, including leadership positions in research and innovation. He served as director of mutual fund research and was part of the team that launched Morningstar Investment Services, Inc., before moving on to other roles including director of business strategy for international operations, and later, president and chief investment officer of Morningstar Investment Services. During his tenure, he has also led Morningstar.com® and the firm’s data business as well as its global products and client solutions group.

Kapoor holds a bachelor’s degree in economics and environmental policy from Monmouth College and a master’s degree in business administration from the University of Chicago Booth School of Business. He also holds the Chartered Financial Analyst® designation, is a member of the CFA Society of Chicago, and served on the board of PitchBook, a private firm that provides a comprehensive private equity and venture capital database, prior to its acquisition by Morningstar in late 2016. Kapoor is also a member of the board of trustees of The Nature Conservancy in Illinois. In 2010, Crain’s Chicago Business named him to its annual 40 Under 40 class, a list that includes professionals from a variety of industries who are contributing to Chicago’s business, civic, and philanthropic landscape.

Rob Lovelace

Capital Group

Robert W. Lovelace is vice chairman of the Capital Group Companies, home of the American Funds. He serves on the Capital Group Management Committee and is also an equity portfolio manager. Lovelace has 33 years of investment experience, all with Capital Group. Earlier in his career, Lovelace was an equity investment analyst at Capital covering global mining & metals companies and companies domiciled in Mexico and the Philippines. He holds a bachelor’s degree in mineral economics (geology) from Princeton University graduating summa cum laude and Phi Beta Kappa. He also holds the Chartered Financial Analyst® designation. Lovelace is based in Los Angeles.

Anne Mathias

Vanguard

Anne N. Mathias is the global interest rate and foreign currency strategist in Vanguard Fixed Income Group and is a member of the Senior Investment Committee for the active fixed income funds. She is responsible for analyzing interest rates, currency valuations, economic developments, political risks, and making longer-term strategic investments in sovereign bonds and related securities across Vanguard’s active fixed income funds.

Before joining Vanguard in 2017, Mathias was the senior macro strategist for Guggenheim Partners Investment Management in Los Angeles. She also spent an earlier part of her career on the sell side, producing her own research and managing U.S.-based research teams for MF Global, Charles Schwab, and others. In these roles, she led the Washington Research Group team which provided political, economic, and industry research for investors and was consistently ranked among the top three in the Institutional Investor "All-America Research Team" poll. Mathias was a private equity investor with the Global Environment Fund and spent five years with Deloitte & Touche as a senior consultant specializing in emerging market privatization and enterprise restructuring.

Mathias earned a B.A. from the University of Maryland and an M.S. in international affairs from Georgetown University's School of Foreign Service. She is a CFA® charterholder and a member of the CFA Society of Los Angeles and the CFA Institute.

Michael Mauboussin

Counterpoint Global, Morgan Stanley Investment Management

Michael J. Mauboussin is Head of Consilient Research at Counterpoint Global in New York. Previously, he was Director of Research BlueMountain Capital, Head of Global Financial Strategies at Credit Suisse, and Chief Investment Strategist at Legg Mason Capital Management. Mr. Mauboussin joined Credit Suisse in 1992 as a packaged food industry analyst and was named Chief U.S. Investment Strategist in 1999.

Mr. Mauboussin is the author of three books, including The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing and is co-author, with Alfred Rappaport, of Expectations Investing: Reading Stock Prices for Better Returns.

Mr. Mauboussin has been an adjunct professor of finance at Columbia Business School since 1993 and is on the faculty of the Heilbrunn Center for Graham and Dodd Investing. He is also the chairman of the board of trustees at the Santa Fe Institute, a research center devoted to the study of complex systems. He earned an A.B. from Georgetown University.

Alan Moore

XY Planning Network

Alan Moore, MS, CFP® is the co-founder of the XY Planning Network, a support network for advisors looking to serve next generation clients. He is also the CEO of AdvicePay, the first and only compliant payment processor for financial advisors. He is passionate about helping financial planners start and grow their own fee-only firms to serve Gen X & Gen Y clients largely ignored by traditional firms. Alan has been recognized by Investment News as a top “40 Under 40″ in financial planning, and a "2020 Icon & Innovator″, and was the first recipient of the NAPFA Young Professional award in 2015. Alan frequently speaks on topics related to technology, marketing, and business coaching, and has been quoted in publications including The Wall Street Journal, Forbes and The New York Times. He is also the host of XYPN Radio, one of the largest podcasts for independent financial advisors. He currently lives in Bozeman, MT so that he can hit the slopes on powder days.

Rick Rieder

BlackRock

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Global Allocation Investment Team, a member of BlackRock's Global Operating Committee and Chairman of the firm-wide BlackRock Investment Council.

Before joining BlackRock in 2009, Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and is currently a member of the Federal Reserve Bank of New York's Investment Advisory Committee on Financial Markets.

Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He was awarded the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor, was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014 and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013.

From 1987 to 2008, Rieder was with Lehman Brothers, most recently as head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee, and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Rieder was a credit analyst at SunTrust Banks in Atlanta.

Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Business School, and the University's Finance Committee, and is the Vice Chairman of the Investment Committee. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program.

Rieder serves as Chairman of the Board of North Star Academy's thirteen Charter Schools in Newark, New Jersey and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is a Trustee for the US Olympic Foundation, and is on the International Advisory Council and Board of Advisors for the Hospital for Special Surgery. He serves on the National Leadership Council of the Communities in Schools Educational Foundation and on the board of Big Brothers/Big Sisters of Newark and Essex County, Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.

Amy Walter

The Cook Political Report

For more than 20 years, Amy Walter has built a reputation as an accurate, objective, and insightful political analyst with unparalleled access to campaign insiders and decision-makers. Known as one of the best political journalists covering Washington, she is national editor of the non-partisan Cook Political Report and a frequent on-air analyst. In addition to her weekly appearance on the popular “Politics Monday” segment on the PBS NewsHour, Amy also hosts WNYC’s nationally-syndicated public radio news program, “Politics with Amy Walter” on The Takeaway. She is also a regular Sunday panelist on NBC’s Meet the Press and CBS’s Face The Nation, and appears frequently on Special Report with Bret Baier on FOX. She is the former political director of ABC News.

In her presentations, Walter expertly breaks down the electoral process, congressional culture, and the Washington political scene. Her astuteness, wit, and range of expertise creates an engaging, compelling presentation, and her reliable and accurate analysis has earned her numerous accolades. Exclusively represented by Leading Authorities speakers bureau, Amy Walter takes audiences on an insider’s tour of Washington through the eyes of the woman with her finger on the pulse of politics.

Political History. Before ABC, she was the editor-in-chief of The Hotline, Washington’s premier daily briefing on American politics. There she served as the political publication’s primary voice for three years, and she provided regular analysis of the national political environment in her weekly National Journal column, On the Trail. Walter has provided election night coverage and analysis since 1998 and was a member of CNN’s Emmy-award winning election night team in 2006.

Accolades and Education. Named one of the “Top 50 Journalists” by Washingtonian magazine, Walter was dubbed one of the most powerful people in politics in George magazine for her insights into the mechanics that make the political machine run. She also won the Washington Post’s Crystal Ball Award for her spot-on election predictions and has been frequently quoted as a congressional election expert in newspapers such as the Wall Street Journal, Washington Post, and the New York Times. Charlie Cook, editor and publisher of the Cook Political Report, said, “Today, her work is trusted and respected by Democrats and Republicans alike. She knows how to get beyond bluster and spin to unearth – and explain – what really matters in a political arena. And, she has a proven track record of success, which is essential for those whose jobs depend on accurate political forecasting.”

Walter graduated summa cum laude from Colby College. She was also honored by her alma mater her with an honorary PhD, and is as a Trustee Emeritus. She is also a member of the Board of Advisors for the University of Chicago’s Institute of Politics.

2020 U.S. Agenda

Keynote Sessions

From Wednesday, Sept. 16


Opening Remarks 
Kunal Kapoor, CEO Morningstar


The Role of Luck, Skill, and Counterintuition in Investing
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

Michael Mauboussin is an author, investor, and thinker who has published four thought-provoking, popular books including The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing and numerous notable research papers. In this session, Michael will take the best of his most impactful and recent research to provide the audience with decidedly unconventional perspectives on topics as diverse as incentives, the nature of the corporation, and the impact of behavioral biases on investing decisions and outcomes. He will also draw on his recent, timely paper, Dispersion and Alpha Conversion: How Dispersion Creates the Opportunity to Express Skill, in which he observes that skill can only be expressed in times of opportunity. 2020's stock market has offered an opportunity for those to express their skills.
Michael Mauboussin, Counterpoint Global, Morgan Stanley Investment Management


The Search for Yield in an Ultra-Low Interest-Rate World
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

This year’s markets have taken investors on a rollercoaster. In this macro-focused discussion, our panelists will share their outlooks for an eventual return to economic growth globally as well as inflation and interest rates. We’ll also discuss where there might still be pockets of value for bond investors even as long-term U.S. Treasury yields stand near historic lows.
Anne Mathias, Vanguard / Rick Rieder, BlackRock / Moderator: Sarah Bush, Morningstar
 


Fireside Chat With Kunal Kapoor and Sarah Newcomb 
Kunal Kapoor, CEO Morningstar / Sarah Newcomb, Morningstar


The Future of Advice
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

The panelists will explore key issues in independent investment advisory practices today, from business models and attracting new, younger clientele to dealing with ever-increasing personalization requirements and environmental, social, and governance considerations. They’ll also address the elephant in the room: the challenges of delivering advice in a time of unprecedented social, public health, and investment market turbulence.
Cathy Curtis, Curtis Financial Planning / Alan Moore, XY Planning Network / Don Phillips, Morningstar / Moderator: Christine Benz, Morningstar


An Inflection Point for Sustainable Investing. The Time Is Now.
A P P R O V E D   F O R   C E   C R E D I T

A global pandemic. Social unrest. Impactful investing in an uncertain world. Never has there been a timelier litmus test for sustainable investing. These issues have become part of the mainstream investment narrative, the industry is at an inflection point. Financial professionals have an opportunity to help investors of all kinds and in every region of the world as they begin to consider not only how ESG risks might affect their portfolios but also how their investments in companies, funds, and various sustainable finance instruments might result in positive societal and/or environmental outcomes. The time is now to turn fear into opportunity through proactive and impactful financial decision-making.
Michael Jantzi, Founder of Sustainalytics, a Morningstar company
 

From Thursday, Sept. 17


A Conversation With BlackRock’s Larry Fink 
Keynote
A P P R O V E D   F O R   C E   C R E D I T

BlackRock grabbed more than its share of headlines in 2019 when Larry Fink’s letter to America’s CEOs announced that the asset manager would become more actively involved in influencing its portfolio companies’ votes on matters related to climate change. While ESG is a key pillar of the firm’s strategy, BlackRock is relevant to independent investment advisors for many other reasons: What are the company’s plans in helping advisors to serve their clients? What can we expect in terms of model portfolio evolution? What role does so-called “smart beta” play in the firm’s strategy? We expect to address these questions as well as whatever other topics rise to the surface as market conditions ebb and flow over the summer.
Larry Fink, BlackRock / Moderator: Haywood Kelly, Morningstar


Where Do We Go From Here? 
Kunal Kapoor, CEO Morningstar


Sustainability & Investor Success
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

Morningstar’s mission is to empower investor success. It’s clear that incorporating ESG factors into our research and data is going to be critical to achieving that goal going forward, whether clients express the desire to build values-driven portfolios or not. In company analysis, what once were virtues may look more like vices today. For example, beneath Facebook’s strapping cash flows lay weak governance of objectionable content. The risk that advertisers and users may distance themselves from the platform is a risk to those robust cash flows that investors must consider, regardless of investor positions on issues such as first-amendment rights. In this session we’ll explain how we’re incorporating ESG risk analysis into our stocks and funds evaluation systems with both rigor and nuance. We’ll also cover the importance of public policy in framing opportunities and outcomes. Our intention is to enable advisors to use these new frameworks to communicate the sometimes complex and confounding world of ESG to their clients.
Haywood Kelly, Morningstar / Michael Jantzi, Sustainalytics / Simon MacMahon, Sustainalytics / Dan Rohr, Morningstar / Madison Sargis, Morningstar / Aron Szapiro, Morningstar / Hortense Bioy, Morningstar


Where to Turn When the Political Climate Heats Up
With the US presidential election just seven weeks away, advisors will be monitoring to the likely outcomes and what it will mean for investors’ futures. Amy Walter speaks with aplomb about the electoral process, congressional culture, and the Washington political scene as a whole. A familiar presence across the media spectrum, her range of topics and expertise provides an engaging, compelling presentation that keeps audiences riveted. Walter discusses not only electoral politics,  but the politics of policy, Washington’s dysfunction, and the people and strategies behind events unfolding in Congress and the White House.
Amy Walter, The Cook Political Report


International Equities: Moving Beyond a Lost Decade
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

While U.S. large-cap stocks enjoyed an exceptionally robust decade in the 2010s, international equities languished. This trend has continued through 2020’s volatile pandemic market. Will international equities shine in the 2020s or continue to disappoint? In this session, three portfolio managers will explore where the best ex-U.S. opportunities lie, whether in developed or emerging markets or small/mid-caps or large caps.
Rupal Bhansali, Ariel Investments / Rezo Kanovich, Artisan Partners / Rob Lovelace, Capital Group / Moderator: Kevin McDevitt, Morningstar

Breakout Sessions


Behavioral Science to Help Investors During Strange Times
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

Morningstar has undertaken a multiyear effort to understand the behavioral obstacles that investors face and to develop practical tools for the advisor. The need for this research has only grown since the coronavirus pandemic, market uncertainty, and economic crisis became realities. In this session, we will share our latest research and tools for advisors to handle the rapidly changing times, including:
–How to recognize the biases and emotions that hit investors in times like these
–Techniques we’ve tested during this pandemic specifically to help advisors manage these biases
–The emerging power of ESG, even during uncertain times. We will show how our research helps values-driven investors look beyond returns.
Samantha Lamas, Morningstar / Michael Leung, Morningstar / Steve Wendel, Morningstar

 


The World in 2030: Cannabis, 5G, EVs, Renewables, and Pharma
Active Investing

Investing directly in stocks in 2020 has been a high-wire act, demonstrating that it’s more important than ever to invest with a long-term perspective. In this session, senior stock analysts will share their long-term forecasts and recommendations for a select group of names that address four key themes in the coming decade: 5G, electric vehicles, renewables, and pharmaceuticals. The session will kick off with an overview of the prospects for the global economy given the great uncertainty created by the ongoing pandemic.
Karen Andersen, Morningstar / Preston Caldwell, Morningstar / Michael Hodel, Morningstar / Kristoffer Inton, Morningstar / Seth Goldstein, Morningstar / Travis Miller, Morningstar / Moderator: Susan Dziubinski, Morningstar
 


Dead Again? Value Managers Say Their Style Is Far From Over
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

Large value has been one of the most difficult factors to own since the end of the global financial crisis through the coronavirus crisis. More than 11 years on, it hasn’t gotten any easier for investors, as growth and core strategies have continued to trounce value, wounding the pride of many fundamental investors. Should you and your clients continue to stick it out?
Chuck Bath, Diamond Hill Capital Management / Ramona Persaud, Fidelity Investments / David Wallack, T. Rowe Price / Moderator: Linda Abu Mushrefova, Morningstar
 


Direct Indexing Is Neither Direct nor Indexing. Discuss.
Passive Investing
A P P R O V E D   F O R   C E   C R E D I T

Direct indexing is being heralded by many as the next big thing in the mass customization of investment portfolios. Both Fidelity (“Stocks by the Slice”) and Schwab (“Stock Slices”) have introduced fractional-share vehicles to address this emerging product category. The panel will discuss the pros and cons of this approach relative to more traditional methods of portfolio construction.
Jana Haines, MSCI / Jennifer Sireklove, Parametric / Patrick O'Shaughnessy, O'Shaughnessy Asset Management / Moderator: Ben Johnson, Morningstar
 


A High-Yield State of Mind
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

High-yield bonds have been on an impressive run in recent years, but the global search for yield keeps pushing prices higher. The COVID-19 crisis has only amplified the hunt for yield. Our panelists will share their thoughts on where value exists in the sector, how they’re managing the risks, and what the growth of the bank-loan market means for high-yield investors.
Bryan Krug, Artisan Funds / Harley Lank, Fidelity Investments / Elaine Stokes, Loomis Sayles and Co. / Moderator: Brian Moriarty, Morningstar
 


Up-and-Coming Small- and Mid-cap Portfolio Managers
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

Our manager research team has been publishing its semiannual Morningstar Prospects report for several years. Prospects are strategies that often graduate to full analyst coverage. At this session, we will look at small- and mid-cap strategies that may soon get called up to the big leagues.
Laird Bieger, Baron Capital / Mark Wynegar, Tributary Capital Management / Amy Zhang, Alger Funds / Moderator: Tony Thomas, Morningstar
 


Nontransparent Active ETFs
Passive Investing
A P P R O V E D   F O R   C E   C R E D I T

The SEC has approved a variety of new ETF formats that may open the doors to a flood of new active managers in the U.S. exchange-traded fund market. Panelists will explore the prospective benefits and drawbacks of these new vehicles.
Scott Livingston, T. Rowe Price / Dan McCabe, Precidian / Mark Roberts, Fidelity Investments / Moderator: Ben Johnson, Morningstar


Climate Change: How to Position Your Portfolio—and Your Practice
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

There is no doubt that climate-change considerations will impact portfolio construction in the future. In this panel, we will speak with portfolio managers about climate risk and opportunity: What are they, and how are they measured? We will also explore implications for portfolio strategies and how advisors can apply new thinking in this area to their practices, including how to communicate what’s ahead to clients.
Lucas White, GMO / Simon Webber, Schroders / Moderator: Hortense Bioy, Morningstar
 


Annuities: Past, Present, and Future
Rethinking Retirement
A P P R O V E D   F O R   C E   C R E D I T

Despite the noted potential benefits of annuitization, utilization remains relatively low. We’ve assembled a panel of industry experts to provide a variety of perspectives on the potential role of annuities today and how they are evolving to meet advisor demands.
Matt Carey, Blueprint Income / Kelli Hueler, Hueler Income Solutions / David Lau, DPL Financial Partners / Moderator: David Blanchett, Morningstar
 


Finding Opportunities in Muni Bonds
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

Muni funds enjoyed record inflows for most of 2019, a reflection of growing client demand and swelling American wealth. While investors hit the exits in March 2020, they have since inched their way back into the asset class. We will probe a panel of leading managers about dipping back into Puerto Rico debt and explore other potential hotspots, such as the U.S. Virgin Islands, Chicago, and lifecare facilities.
Rob Amodeo, Western Asset Management / Susan Courtney, PGIM Investments / Jim Murphy, T. Rowe Price / Moderator: Elizabeth Foos, Morningstar


Reg BI, the SECURE Act & What’s Next for Regulation
Future of Investing

With the new provisions in the SECURE act, Regulation Best Interest, and a flurry of regulatory activity, advisors haven’t been more pressed to be current on regulatory developments in years. In this session, we will inform you not only about what you need to know now but also about what Morningstar thinks is coming the next few years, including the possible impacts of U.S. elections in the fall of 2020.
Lia Mitchell, Morningstar / Jasmin Sethi, Morningstar / Aron Szapiro, Morningstar
 


Investing Ideas From the Morningstar Wide Moat Focus Index
Active Investing

Morningstar’s equity research is perhaps best known for its assignment of Morningstar Economic Moat Ratings to the companies it covers: Wide, Narrow, and None. Equally important but less known is the importance of valuation in our assessments. The Morningstar Wide Moat Focus Index exemplifies the balance between sustainable competitive advantage and valuation in a way that is easier to understand than the concepts themselves in isolation. In this session, you will learn how companies find their way into the index and what triggers the algorithm to sell.
Andy Lane, Morningstar
 


Private Equity Is Coming to Wealth Platforms. Is That Good News?
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

While private equity has long been discussed as an attractive asset class to diversify investor portfolios, it still came as a surprise to some when Vanguard announced a partnership with HarbourVest in February 2020 to offer PE to wealthy individuals. In this session, Bethany McLean, former Fortune senior writer and co-author of the authoritative book on the Enron debacle, will moderate a group of panelists representing the pros and cons of the wisdom of introducing PE to retail investors.
Chadd Evans, Altera Investments / Fran Kinniry, Vanguard / John Rekenthaler, Morningstar / Moderator: Bethany McLean, Journalist


What Prior Market Crashes Teach Us About This One
Active Investing

Seasoned investing professionals know that market shocks are a feature of investment markets. While downturns are often anticipated, they never seem expected, except in retrospect. So, is the COVID-19 market sell-off (and rebound) different from previous market shocks? Not particularly—however, the panelists will discuss whether 2020’s sell-off may compel investors to rethink return distributions within financial models and will address why it seems that investors so easily forget extreme events that have happened regularly throughout history. Finally, the panelists will offer guidance on what financial coaches and advisors can do to ensure that investors stay the course.
Paul Kaplan, Morningstar / Larry Siegel, CFA Institute Research Foundation / Moderator: Ian Tam, Morningstar
 

Conference Classics


Stock-Picking Is Dead, Long Live Stock-Picking?
From 2015: We get back to basics with two of the mutual fund world’s pre-eminent stock-pickers, Bill Nygren and Steven Romick.
Bill Nygren, Oakmark Funds / Steven Romick, FPA Funds / Moderator: Jeff Ptak, Morningstar
 


Bottom-Up Stock-Picking in a Top-Down World
Bottom-Up Stock-Picking in a Top-Down WorldFrom 2016: In a market increasingly buffeted by macroeconomic crosswinds, here’s how some of the most well-regarded bottom-up, fundamental stock-pickers have been responding and adapting.
Dan O’Keefe, Artisan Partners / Meggan Walsh, Invesco / Keith Lee, Brown Capital Management / Moderator: Janet Yang, Morningstar
 


A Conversation with Melody Hobson, President, Ariel Investments
Her keynote address from the 2018 Morningstar Investment Conference.


The Wisdom of Crowds and the Fallibility of Markets
From 2019: A keynote from Daniel Needham, President & CIO, Morningstar Investment Management, LLC.
 


The Race of Our Lives: Accelerating Climate Damage Meets Accelerating Technological Progress
From 2018: Jeremy Grantham looks at investing through the lens of significant climate change.
Jeremy Grantham, GMO
 


The Psychology of Investing
From 2019: Morgan Housel describes how people think about risk, and investors can do about it to make better-informed decisions with our own money.
Morgan Housel, The Collaborative Fund
 


Changing Definitions of Equity Value
From 2019: What does value investing mean in 2019? And how does a company like Amazon find its way into “value” strategies?
David Giroux, T. Rowe Price / Jean Hynes, Wellington Management / Moderator: Katie Reichart, Morningstar
 


A Conversation With John Bogle, Founder, The Vanguard Group
A keynote conversation from the 2018 Morningstar Investment Conference-India.
 

Virtual Reality Experience

Get the best seat in the house with the Morningstar Investment Conference Virtual Reality Experience, which allows you to see the U.S. show from a brand-new perspective.

If you already own an Oculus Quest headset, our bring-your-own-headset VR pass is your ticket to a front-row seat for all of the U.S. conference’s sessions, alongside two sustainability-themed VR games, virtual sponsor booths, and more.

Once you sign up, we’ll send you instructions for downloading the Quest VR apps you need to join us in cyberspace. You’ll also get access to all of our 2020 digital events on your computer or mobile device, and the price is the same as a standard registration: $149. The VR experience is a product of Gatherings by Mesmerise.

Meet Our 2020 U.S. Sponsors


Principal Sponsor


Virtual Reality Sponsor


Lead Sponsors


Social Digital Hub Sponsor

Frequently Asked Questions

When and where is the Morningstar Investment Conference this year?
The Morningstar Investment Conference is a global digital event featuring eight investing conferences from around the world. It started Sept. 16 and ends Dec. 1.

What does “digital event” mean?
The digital Morningstar Investment Conference is an immersive online event that features all the key benefits you love about our flagship industry conference, bringing together industry leaders and investing experts to discuss the latest developments and share new perspectives on the market. All the U.S. sessions are now available to watch on demand until Dec. 1. Pace yourself or binge away—we won’t judge. 

What software is required to view the keynote speakers, panel discussions and interact with people?
The digital Morningstar Investment Conference is web-based, so all you need is a computer and an internet connection.   

How do get I access to the digital conference?
After you register, you’ll receive an email from Morningstar Events U.S. that contains the credentials needed for access. 

How much does registration cost?
$149 (USD). Registration includes access to additional all of our 2020 digital conferences. Access ends Dec. 1. 

Are continuing education credits being offered?
Yes. Attendees can earn up to 17 CE credits by attending the conference.  

How do I get my CE credits?
There are 17 CE-eligible sessions approved by NASBA and CFP, and we can also provide certificates for other designations after you finish watching the sessions. To get your credits, you need to attend each full session (your attendance will be time-stamped so we know you completed it). We’re tracking attendance for everyone who indicates interest in CE credits when they registered. Sessions approved for CE credits are labeled as such in the agenda on this page.
All of this content will be available on demand until Dec. 1.
If you already registered and aren’t sure if you indicated an interest in CE credits, send us an an email and we can check.  

Where can I find the agenda? 
You can see the full slate of U.S. sessions on this site. Just scroll up!

Now that the U.S. live conference is over, what’s the schedule for global events? 
South Africa: Oct. 1
Australia: Oct. 8–9
India: Nov. 3–4
Spain: Nov. 5
Italy: Nov. 10
U.K.: Nov. 16–17
France: Nov. 19

What is the cancellation policy? 
Since the live event has already taken place, no refunds will be given.

Still have questions? Reach out to our team.

See You Next Year!

We plan to host an in-person event in Chicago on May 17–19, 2021, taking all the necessary precautions to ensure the health and safety of our attendees. But if this year has taught us anything, it’s that things can change quickly. We’ll keep you updated as we finalize the details.