Morningstar Advisor - October/November 2012 - (Page 3)

October/November 2012 Features Spotlight: Factor Investing Morningstar Conversation 50 Undiscovered Manager 58 Factors Dissected Why some assets yield higher returns than others and what it means for investors. 36 Fitting Factors Into the Formula Factor investing and asset allocation are two roads to the same destination, Cliff Asness and Rob Arnott say. Clients Have a Friend in Luther King Texan has built a $9.6 billion under-the-radar firm by delivering strong results and building relationships, instead of marketing and gathering assets Exploring the World of Factors Understanding factors leads to better investment strategies. 40 Uncloaking the Alpha Machine How finance professors keep moving the goal posts for active management. 42 Factor Strategies Gain Footholds in Practices Proponents say that education and openness are keys to keeping clients believing in system. 46 Big Mo There’s more, and less, than meets the eye in momentum’s long-term track record. 3

Table of Contents for the Digital Edition of Morningstar Advisor - October/November 2012

Morningstar Advisor - October/November 2012
Letter From the Editor
Ill Communication
Do You Use Factor-Investing Strategies?
Practicing What She Preaches
How to Determine the True Price of ETFs
The Quant Factor
Managers Dispute the Death of Equities
Investments á la Carte
Investment Briefs
Five Inconvenient Truths of Manager Research
Health Care’s Outlook Clarifies
Exploring the World of Factors
Uncloaking the Alpha Machine
Factor Strategies Gain Footholds in Practices
Big Mo
Fitting Factors Into the Formula
Clients Have a Friend in Luther King
Less-Liquid Holdings Mean More-Solid Results
Retirement-Withdrawal Strategies Quantified
Amid Turmoil, Don’t Discount Foreign Equities
Our Favorite Mutual Funds
50 Most-Popular Equity ETFs
Undervalued Stocks With Wide Moats
Should I Stay or Should I Go?

Morningstar Advisor - October/November 2012