Morningstar Advisor - Spring 2007 - (Page 8) 10 Questions Get to Know Morningstar’s 2006 Fund Managers of the Year No, they don’t get gold stars, but they do get the stardom, and all its trappings, that comes from being named Morningstar Fund Manager of the Year. This year’s fixed-income winner, Jeffrey Gundlach, told us that since he won the award he gets recognized on the street “once every couple of months.” Oh, the price of fame. Though they now get stopped in public, we feel pretty confident that these managers won’t let it go to their heads. We recently checked in with the winners to find out a little more about them and to get their read on the markets. K David Herro Oakmark International OAKIX Oakmark International Small Cap OAKEX Manager of the Year: International Equity r Value maven r Loads up on individual sectors and countries r Comfortable pursuing emerging markets Who is your biggest investing influence? Ben Graham What was your first investment? Armco Steel in junior high If you weren’t a fund manager, what would you be? Teaching as an economics professor. What’s your favorite thing about managing a mutual fund? Helping people reach their financial goals. There’s nothing more rewarding than getting letters of appreciation from investors. Prices paid for Chinese bank IPOs. What was the biggest surprise of the first quarter? Can you name a current investing opportunity? Busted blue chips, global pharmaceuticals, asset managers. What are you currently reading? Every car magazine I can get my hands on. What’s your favorite city? Chicago What is a place you haven’t been to, but would like to visit? Africa What will be the hot topic at this year’s Morningstar Investment Conference? The flow of alternative investment money and its impact on the stock and bond markets. 8 Morningstar Advisor Spring 2007
Table of Contents Feed for the Digital Edition of Morningstar Advisor - Spring 2007 Morningstar Advisor Spring 2007 Features Departments Letter from Joe Mansueto Get to Know Morningstar’s Fund Managers of the Year Is Your Client a Stock or a Bond? Less Alpha, More Beta Than Meets the Eye Your Mileage May Vary A Clear-Eyed Look at Hedge Funds Lower Risk, Higher Returns, What’s Not to Like? Without Cash and Clout, Advisors and Clients Get Short End of Stick Get the Strategy Minus the Headaches Analyzing Funds of Hedge Funds Not All Hedge Funds Are Created Equal A Fund with a (Long) View Laying Low and Prospering A Menu of Ideas to Fill Five Market Baskets Oil and Gas Gushing with Values Mutual Fund Analyst Picks Undervalued Stocks Most Popular Variable Annuities What’s New at Morningstar and on the Web You Can’t Always Get What You Want Morningstar Advisor - Spring 2007 Morningstar Advisor - Spring 2007 - (Page Cover 1) Morningstar Advisor - Spring 2007 - (Page Cover2) Morningstar Advisor - Spring 2007 - Features (Page 1) Morningstar Advisor - Spring 2007 - Departments (Page 2) Morningstar Advisor - Spring 2007 - Departments (Page 3) Morningstar Advisor - Spring 2007 - Departments (Page 4) Morningstar Advisor - Spring 2007 - Letter from Joe Mansueto (Page 5) Morningstar Advisor - Spring 2007 - Letter from Joe Mansueto (Page 6) Morningstar Advisor - Spring 2007 - Letter from Joe Mansueto (Page 7) Morningstar Advisor - Spring 2007 - Get to Know Morningstar’s Fund Managers of the Year (Page 8) Morningstar Advisor - Spring 2007 - Get to Know Morningstar’s Fund Managers of the Year (Page 9) Morningstar Advisor - Spring 2007 - Get to Know Morningstar’s Fund Managers of the Year (Page 10) Morningstar Advisor - Spring 2007 - Get to Know Morningstar’s Fund Managers of the Year (Page 11) Morningstar Advisor - Spring 2007 - Is Your Client a Stock or a Bond? (Page 12) Morningstar Advisor - Spring 2007 - Is Your Client a Stock or a Bond? (Page 13) Morningstar Advisor - Spring 2007 - Is Your Client a Stock or a Bond? (Page 14) Morningstar Advisor - Spring 2007 - Is Your Client a Stock or a Bond? (Page 15) Morningstar Advisor - Spring 2007 - Less Alpha, More Beta Than Meets the Eye (Page 16) Morningstar Advisor - Spring 2007 - Less Alpha, More Beta Than Meets the Eye (Page 17) Morningstar Advisor - Spring 2007 - Your Mileage May Vary (Page 18) Morningstar Advisor - Spring 2007 - Your Mileage May Vary (Page 19) Morningstar Advisor - Spring 2007 - A Clear-Eyed Look at Hedge Funds (Page 20) Morningstar Advisor - Spring 2007 - A Clear-Eyed Look at Hedge Funds (Page 21) Morningstar Advisor - Spring 2007 - Lower Risk, Higher Returns, What’s Not to Like? (Page 22) Morningstar Advisor - Spring 2007 - Lower Risk, Higher Returns, What’s Not to Like? (Page 23) Morningstar Advisor - Spring 2007 - Without Cash and Clout, Advisors and Clients Get Short End of Stick (Page 24) Morningstar Advisor - Spring 2007 - Without Cash and Clout, Advisors and Clients Get Short End of Stick (Page 25) Morningstar Advisor - Spring 2007 - Without Cash and Clout, Advisors and Clients Get Short End of Stick (Page 26) Morningstar Advisor - Spring 2007 - Without Cash and Clout, Advisors and Clients Get Short End of Stick (Page 27) Morningstar Advisor - Spring 2007 - Get the Strategy Minus the Headaches (Page 28) Morningstar Advisor - Spring 2007 - Get the Strategy Minus the Headaches (Page 29) Morningstar Advisor - Spring 2007 - Get the Strategy Minus the Headaches (Page 30) Morningstar Advisor - Spring 2007 - Get the Strategy Minus the Headaches (Page 31) Morningstar Advisor - Spring 2007 - Get the Strategy Minus the Headaches (Page 32) Morningstar Advisor - Spring 2007 - Analyzing Funds of Hedge Funds (Page 33) Morningstar Advisor - Spring 2007 - Analyzing Funds of Hedge Funds (Page 34) Morningstar Advisor - Spring 2007 - Analyzing Funds of Hedge Funds (Page 35) Morningstar Advisor - Spring 2007 - Analyzing Funds of Hedge Funds (Page 36) Morningstar Advisor - Spring 2007 - Analyzing Funds of Hedge Funds (Page 37) Morningstar Advisor - Spring 2007 - Not All Hedge Funds Are Created Equal (Page 38) Morningstar Advisor - Spring 2007 - Not All Hedge Funds Are Created Equal (Page 39) Morningstar Advisor - Spring 2007 - Not All Hedge Funds Are Created Equal (Page 40) Morningstar Advisor - Spring 2007 - A Fund with a (Long) View (Page 41) Morningstar Advisor - Spring 2007 - A Fund with a (Long) View (Page 42) Morningstar Advisor - Spring 2007 - A Fund with a (Long) View (Page 43) Morningstar Advisor - Spring 2007 - A Fund with a (Long) View (Page 44) Morningstar Advisor - Spring 2007 - A Fund with a (Long) View (Page 45) Morningstar Advisor - Spring 2007 - Laying Low and Prospering (Page 46) Morningstar Advisor - Spring 2007 - Laying Low and Prospering (Page 47) Morningstar Advisor - Spring 2007 - Laying Low and Prospering (Page 48) Morningstar Advisor - Spring 2007 - Laying Low and Prospering (Page 49) Morningstar Advisor - Spring 2007 - A Menu of Ideas to Fill Five Market Baskets (Page 50) Morningstar Advisor - Spring 2007 - A Menu of Ideas to Fill Five Market Baskets (Page 51) Morningstar Advisor - Spring 2007 - A Menu of Ideas to Fill Five Market Baskets (Page 52) Morningstar Advisor - Spring 2007 - A Menu of Ideas to Fill Five Market Baskets (Page 53) Morningstar Advisor - Spring 2007 - A Menu of Ideas to Fill Five Market Baskets (Page 54) Morningstar Advisor - Spring 2007 - A Menu of Ideas to Fill Five Market Baskets (Page 55) Morningstar Advisor - Spring 2007 - A Menu of Ideas to Fill Five Market Baskets (Page 56) Morningstar Advisor - Spring 2007 - Oil and Gas Gushing with Values (Page 57) Morningstar Advisor - Spring 2007 - Oil and Gas Gushing with Values (Page 58) Morningstar Advisor - Spring 2007 - Oil and Gas Gushing with Values (Page 59) Morningstar Advisor - Spring 2007 - Oil and Gas Gushing with Values (Page 60) Morningstar Advisor - Spring 2007 - Oil and Gas Gushing with Values (Page 61) Morningstar Advisor - Spring 2007 - Mutual Fund Analyst Picks (Page 62) Morningstar Advisor - Spring 2007 - Mutual Fund Analyst Picks (Page 63) Morningstar Advisor - Spring 2007 - Mutual Fund Analyst Picks (Page 64) Morningstar Advisor - Spring 2007 - Mutual Fund Analyst Picks (Page 65) Morningstar Advisor - Spring 2007 - Undervalued Stocks (Page 66) Morningstar Advisor - Spring 2007 - Undervalued Stocks (Page 67) Morningstar Advisor - Spring 2007 - Most Popular Variable Annuities (Page 68) Morningstar Advisor - Spring 2007 - Most Popular Variable Annuities (Page 69) Morningstar Advisor - Spring 2007 - What’s New at Morningstar and on the Web (Page 70) Morningstar Advisor - Spring 2007 - What’s New at Morningstar and on the Web (Page 71) Morningstar Advisor - Spring 2007 - What’s New at Morningstar and on the Web (Page 72) Morningstar Advisor - Spring 2007 - What’s New at Morningstar and on the Web (Page 73) Morningstar Advisor - Spring 2007 - What’s New at Morningstar and on the Web (Page 74) Morningstar Advisor - Spring 2007 - What’s New at Morningstar and on the Web (Page 75) Morningstar Advisor - Spring 2007 - You Can’t Always Get What You Want (Page 76) Morningstar Advisor - Spring 2007 - You Can’t Always Get What You Want (Page Cover3) Morningstar Advisor - Spring 2007 - You Can’t Always Get What You Want (Page Cover4)
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