Morningstar Advisor - Winter 2008 - 19

New Chances to Hire Some Good Managers Seeking to capitalize on newly created opportunities from financial markets’ turbulent summer and fall, several of our favorite foreign and global funds reopened in December and January to new investors. Third Avenue International Value TAVIX The foreign small/mid-value fund, managed by Amit Wadhwaney since its 2001 inception and now about $2.3 billion in size, previously closed in mid-2005 after significant inflows. So it’s likely that this action is temporary. Should you give it a look? It’s one of our favorite international funds. Wadhwaney is a go-anywhere manager who applies Third Avenue’s “safe and cheap” mantra globally. mid-2005, when the dearth of attractively priced investment ideas worldwide, coupled with management’s unwillingness to compromise on its value-oriented strategy, caused its cash stake to climb as high as 20%. That cash level has since come down as opportunities for the fund have opened up. Given the team’s vigilance, we expect the fund to close promptly once these opportunities dry up. Should you give it a look? The fund’s bargainhunting style keeps it out of hot water, and the offering has been a rock in choppy markets. Considering how well global stock markets have done lately, we like this one in the near term. We’re also fans of its long-term viability. Should you give them a look? This is a topnotch value shop, but who will succeed Jean-Marie Eveillard? The highly respected value manager came out of retirement last year to temporarily manage these two funds after the abrupt departure of Charles de Vaulx. That and other recent personnel changes mean that, for the first time in years, very little is certain about these funds’ future. Oakmark International Small Cap OAKEX and Oakmark International OAKIX Both funds are run by David Herro, who was named Morningstar’s International-Stock Manager of the Year in 2006. They’ve been closed since mid-2002 and the end of 2003, respectively. The reopenings come after Herro’s strict value style caused both funds to struggle mightily relative to peers in 2007. Should you give them a look? Despite their Tweedy, Browne Global Value TBGVX This foreign all-cap fund had been closed since First Eagle Overseas SGOVX and First Eagle Global SGENX First Eagle Overseas initially closed in February 2004 after a deluge of inflows outpaced the availability of compelling opportunities, especially among small and midsize firms. First Eagle Global closed a year later. recent woes and some other tough periods, both funds have considerable long-term appeal. Oakmark International Small Cap has posted START AHEAD. STAY AHEAD. CFFPINFO.COM � 74% of Worth magazine’s top financial advisors chose the College for their education needs � Graduates report an increase of up to 21% in earnings after completing their CFP® certification or professional designation programs � Over 100,000 graduates, since 1972 � Pass rates over 20% higher than all other competitors on the CFP® Certification Examination � Professional designations in as little as 30 days and certifications in as little as one year � Flexible study options including online, self-study, or classroom instruction Only at the College for Financial Planning. financial planning asset management retirement planning m a s t e r ’s p r o g r a m continuing education Call800.237.9990 Clickwww.cffpinfo.comChat The College for Financial Planning does not certify individuals to use the CFP®, Certified Financial Planner™ and CFP® marks. CFP® certification is granted solely by Certified Financial Planner Board of Standards Inc. to individuals who, in addition to completing an educational requirement such as this CFP Board-Registered Program, have met ethics, experience, and examination requirements. MorningstarAdvisor.com 19
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Morningstar Advisor - Winter 2008

Table of Contents for the Digital Edition of Morningstar Advisor - Winter 2008

Morningstar Advisor - Winter 2008
Contents
Letter from the Editor
Inbox
How Do You Use the Morningstar Style Box?
Real Estate Investing Goes Global
The Golden Touch
Investment Briefs
Learning to Fly with Equity Options
Another Block in Building a Portfolio
In a League of Their Own
Unlock the Box
Fashion Change
The View from the Investment Side
Unpredictable Style
Weighting the Fundamentals
Wire-to-Wire Consistency
The Secret's Out
Focus on Financials
Strongest Homebuilders Will Withstand the Wrecking Ball
Breaking Style Conventions
Playing It Safe with Financials
Back to Bond School
Mutual Fund Analyst Picks
Undervalued Stocks
Most Popular Variable Annuities
New at Morningstar
The Style Counsel
Morningstar Advisor - Winter 2008 - Intro
Morningstar Advisor - Winter 2008 - Morningstar Advisor - Winter 2008
Morningstar Advisor - Winter 2008 - Cover2
Morningstar Advisor - Winter 2008 - 1
Morningstar Advisor - Winter 2008 - 2
Morningstar Advisor - Winter 2008 - Contents
Morningstar Advisor - Winter 2008 - 4
Morningstar Advisor - Winter 2008 - 5
Morningstar Advisor - Winter 2008 - 6
Morningstar Advisor - Winter 2008 - Letter from the Editor
Morningstar Advisor - Winter 2008 - 8
Morningstar Advisor - Winter 2008 - Inbox
Morningstar Advisor - Winter 2008 - How Do You Use the Morningstar Style Box?
Morningstar Advisor - Winter 2008 - 11
Morningstar Advisor - Winter 2008 - Real Estate Investing Goes Global
Morningstar Advisor - Winter 2008 - 13
Morningstar Advisor - Winter 2008 - 14
Morningstar Advisor - Winter 2008 - The Golden Touch
Morningstar Advisor - Winter 2008 - 16
Morningstar Advisor - Winter 2008 - 17
Morningstar Advisor - Winter 2008 - Investment Briefs
Morningstar Advisor - Winter 2008 - 19
Morningstar Advisor - Winter 2008 - 20
Morningstar Advisor - Winter 2008 - 21
Morningstar Advisor - Winter 2008 - Learning to Fly with Equity Options
Morningstar Advisor - Winter 2008 - 23
Morningstar Advisor - Winter 2008 - 24
Morningstar Advisor - Winter 2008 - 25
Morningstar Advisor - Winter 2008 - Another Block in Building a Portfolio
Morningstar Advisor - Winter 2008 - 27
Morningstar Advisor - Winter 2008 - 28
Morningstar Advisor - Winter 2008 - 29
Morningstar Advisor - Winter 2008 - In a League of Their Own
Morningstar Advisor - Winter 2008 - 31
Morningstar Advisor - Winter 2008 - 32
Morningstar Advisor - Winter 2008 - 33
Morningstar Advisor - Winter 2008 - 34
Morningstar Advisor - Winter 2008 - 35
Morningstar Advisor - Winter 2008 - Unlock the Box
Morningstar Advisor - Winter 2008 - 37
Morningstar Advisor - Winter 2008 - 38
Morningstar Advisor - Winter 2008 - 39
Morningstar Advisor - Winter 2008 - Fashion Change
Morningstar Advisor - Winter 2008 - 41
Morningstar Advisor - Winter 2008 - 42
Morningstar Advisor - Winter 2008 - 43
Morningstar Advisor - Winter 2008 - The View from the Investment Side
Morningstar Advisor - Winter 2008 - 45
Morningstar Advisor - Winter 2008 - 46
Morningstar Advisor - Winter 2008 - 47
Morningstar Advisor - Winter 2008 - 48
Morningstar Advisor - Winter 2008 - 49
Morningstar Advisor - Winter 2008 - 50
Morningstar Advisor - Winter 2008 - 51
Morningstar Advisor - Winter 2008 - Unpredictable Style
Morningstar Advisor - Winter 2008 - 53
Morningstar Advisor - Winter 2008 - Weighting the Fundamentals
Morningstar Advisor - Winter 2008 - 55
Morningstar Advisor - Winter 2008 - 56
Morningstar Advisor - Winter 2008 - 57
Morningstar Advisor - Winter 2008 - 58
Morningstar Advisor - Winter 2008 - 59
Morningstar Advisor - Winter 2008 - 60
Morningstar Advisor - Winter 2008 - 61
Morningstar Advisor - Winter 2008 - Wire-to-Wire Consistency
Morningstar Advisor - Winter 2008 - 63
Morningstar Advisor - Winter 2008 - 64
Morningstar Advisor - Winter 2008 - 65
Morningstar Advisor - Winter 2008 - The Secret's Out
Morningstar Advisor - Winter 2008 - 67
Morningstar Advisor - Winter 2008 - 68
Morningstar Advisor - Winter 2008 - 69
Morningstar Advisor - Winter 2008 - Focus on Financials
Morningstar Advisor - Winter 2008 - 71
Morningstar Advisor - Winter 2008 - 72
Morningstar Advisor - Winter 2008 - 73
Morningstar Advisor - Winter 2008 - Strongest Homebuilders Will Withstand the Wrecking Ball
Morningstar Advisor - Winter 2008 - 75
Morningstar Advisor - Winter 2008 - Breaking Style Conventions
Morningstar Advisor - Winter 2008 - 77
Morningstar Advisor - Winter 2008 - Playing It Safe with Financials
Morningstar Advisor - Winter 2008 - 79
Morningstar Advisor - Winter 2008 - 80
Morningstar Advisor - Winter 2008 - Back to Bond School
Morningstar Advisor - Winter 2008 - 82
Morningstar Advisor - Winter 2008 - Mutual Fund Analyst Picks
Morningstar Advisor - Winter 2008 - 84
Morningstar Advisor - Winter 2008 - 85
Morningstar Advisor - Winter 2008 - 86
Morningstar Advisor - Winter 2008 - 87
Morningstar Advisor - Winter 2008 - Undervalued Stocks
Morningstar Advisor - Winter 2008 - 89
Morningstar Advisor - Winter 2008 - 90
Morningstar Advisor - Winter 2008 - 91
Morningstar Advisor - Winter 2008 - Most Popular Variable Annuities
Morningstar Advisor - Winter 2008 - 93
Morningstar Advisor - Winter 2008 - New at Morningstar
Morningstar Advisor - Winter 2008 - 95
Morningstar Advisor - Winter 2008 - The Style Counsel
Morningstar Advisor - Winter 2008 - Cover3
Morningstar Advisor - Winter 2008 - Cover4
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