Our guest this week is John Rekenthaler. Rekenthaler is a director in Morningstar Research Services and a feature contributor to our platforms, including Morningstar.com. A lucid thinker and brilliant writer, his popular "Rekenthaler Report" column has become a must read among investors, financial advisors, fund industry participants, and beyond.
Rekenthaler began his career at Morningstar in 1988 and has worn a number of hats, including leadership roles in our research and investment management divisions. Among other achievements, Rekenthaler has been a key player in developing some of Morningstar's best-known tools, including the Morningstar Rating for funds and the Morningstar Style Box. He holds a bachelor's degree in English from the University of Pennsylvania and a master's degree in business administration from the University of Chicago Graduate School of Business.
Morningstar's Mind the Gap study
Rekenthaler Report: "Mutual Funds: Where Fun Came to Die"
Rekenthaler Report: "3 Reasons Index Investors Deserve Perdition (or Not)"
Rekenthaler Report: "Up-Front Investment Fees Are (Almost) No More"
Rekenthaler Report: "Give Performance Fees a Chance"
How John Invests
Rekenthaler Report: "What's in My Portfolio?"
Most and Least Popular Columns
Rekenthaler Report: "Enough with Revenue Sharing!"
Rekenthaler Report: "About that Rigging Claim"
Flash Boys: A Wall Street Revolt, by Michael Lewis, March 2014.
Compelling Academic Research
Rekenthaler Report: "Predicting Mutual Fund Returns With the Ownership Lens"
"Judging Fund Managers by the Company They Keep," by Randolph Cohen, Joshua Coval, and Lubos Pastor; NBER Working Paper No. 9359, December 2002.
The State of Retirement
Rekenthaler Report: "The Retirement Crisis That Isn't?"
"A Perplexing Tale About 401(k)s," by Scott Cooley; Morningstar.com, Nov. 26, 2015.
Rekenthaler Report: "The British Show How to Improve 401(k)s"
Best and Worst Innovations
Rekenthaler Report: "Why ETFs Succeeded for Retail Investors"
Rekenthaler Report: "Tactical-Allocation Funds: Even Worse Than Expected"
Rekenthaler Report: "Jack Bogle Strikes Back!"
Rekenthaler Report: "Jack Bogle's (Somewhat) Accidental Legacy"
"Anticompetitive Effects of Common Ownership," by Jose Azar, Martin Schmalz, and Isabel Tecu; Journal of Finance, May 2018.
Rekenthaler Report: "Are Index Funds Too Soft on CEOs?"
Rekenthaler Report: "The Latest Salvo Against Indexing"
Rekenthaler Report: "The Doctrine of Shareholder Value Has Indeed Helped Shareholders"
What John Reads
Reflections on Investing
Rekenthaler Report: "My Investment Howler"