Available on Sept. 16 beginning at 1:00 p.m. (CT)
Behavioral Science to Help Investors During Strange Times
Future of Investing
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 / Steve Wendel, Morningstar
The World in 2030: Cannabis, 5G, EVs, Renewables, and Pharma
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
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.
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.
Ron Bundy, Morningstar / Jana Haines, MSCI / Jennifer Sireklove, Parametric / Patrick O'Shaughnessy, O'Shaughnessy Asset Management / Moderator: Ben Johnson, Morningstar
A High-Yield State of Mind
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
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
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
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
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
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
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
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
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