Morningstar Magazine - February/March 2014 - (Page 7)

Letter From the Editor New Direction Jerry Kerns Follow Jerry on Twitter @ jerrykerns Welcome to the new Morningstar magazine. Well, it's not completely new, but we've made a bunch of changes and will continue to do so over the next couple of issues. The most notable change is our name. We dropped Advisor from our masthead. This doesn't mean advisors are no longer our focus. They are. We will continue to publish sophisticated research and analysis that will help advisors better serve their clients. But we also think our articles can benefit an institutional audience. Asset managers, investment consultants, and pension-fund executives have long used Morningstar's products and research. We want to expand our readership and bring Morningstar's thinking to these institutions to show the depth of our work that you've come to expect. We also want our content to be more globally oriented. Now more than ever, investors everywhere have access to markets and investments across borders. An investor in China has an interest in what is happening with commodities in Australia. A French investor cares about the United States. We're in a position to bring global information to readers. Morningstar has researchers and analysts working in nearly 30 countries. Up until now, much of the research they were producing was limited to investors in their home countries. We want to bring this content to a wider, international audience. To go along with our new bent, we reorganized the magazine and added new features. First, we expanded our research section, which is now called Strategies (Page 42). The section is divided into three subsections: Asset Allocation, Portfolio Construction, and Investment Research. This mimics the Ibbotson investment consulting approach. It is here where you'll read the latest research articles and papers from Morningstar. The new Global Briefs section (Page 25) is a worldwide roundup of shorter investment dispatches from Morningstar's international offices. Ivory Towers (Page 14) is a new column by Morningstar's vice president of research, John Rekenthaler. John critiques noteworthy academic research papers, so readers will know if they're worth a read. Letter From the Board is an essay from a member of our new editorial board. The board is composed of senior members of Morningstar's global research and analyst teams (see the masthead opposite this page for its roster), and their task is to help direct the content of the magazine. Much of the magazine you'll recognize, however. Spotlight, Morningstar Conversation, Phillips Curve, Undiscovered Managers, among other favorite features, remain. This is a work in progress. Editorially, we'll be tweaking things here and there. More significant changes will happen on the design side. Art director Alexander Skoirchet has already done incredible work designing our new Morningstar masthead, which he created by hand. And this summer, we'll be launching a version of the magazine for iPad. I really want to hear what you think about the direction we're going. Please let me know what you like, don't like, and any suggestions you might have. Send your comments to, or you can find me on Twitter. 7

Table of Contents for the Digital Edition of Morningstar Magazine - February/March 2014

Morningstar Magazine - February/March 2014
Letter From the Editor
Preparing for the Next 50 Years
Morningstar Managers of the Year
Fixing the Trust Deficit
Rethinking the Path to Retirement
Same Old, Same Old
Global Briefs
The Economic Implications of an Older World
Banking on Performance
Is the Affordable Care Act Healing Health Care’s Woes?70
Baxter Has a Positive Prognosis
Leading Fidelity’s Charge for RIAs
Our Favorite Mutual Funds
50 Most-Popular Equity ETFs
Undervalued Stocks With Wide Moats
Moving the Goal Post

Morningstar Magazine - February/March 2014