Morningstar - Q4 2020 - 6

Contributors

Magazine

Christine Benz

Susan Dziubinski

David Sekera

Preston Caldwell

Adam Simpson

In our first Spotlight story (Page 29), Morningstar's
director of personal finance Christine Benz
explores the impact of the pandemic: "It has been
hard on older adults. They have experienced
job loss at a higher rate than the general
population, and they've also been hard-hit by the
current low-yield environment." Susan
Dziubinski digs deeper into the healthcare aspect
(Page 36). Dziubinski, director of content at
Morningstar, has observed many changes to the
healthcare landscape during her career,
but her investigation into how COVID-19 might
alter that landscape surprised her: "The pandemic
may leave less of a mark on healthcare
spending long term and instead may significantly
have an impact on how we spend our
dollars elsewhere."

The pandemic has created pitfalls for investors,
but also opportunities. David Sekera, Morningstar's
chief U.S. market strategist, evaluates its
effect on valuations in key sectors (Page 41). In
order to do so, he says, "I relied on Preston
Caldwell's analysis of past shocks to the system
and how quickly we recovered." Caldwell, a senior
economics analyst at Morningstar, studied
five comparable past events (Page 51). "My first
instinct was to look back at history. This is an
unprecedented event in our lifetimes, but there
are analogies in history. Historical evidence
can bolster our analysts' contrarian calls; taking
a contrarian view to the market is not easy."

Illustrator Adam Simpson was inspired by this
issue's theme to explore "the world of the home
and the wider city view, as these are the
environments in which we respond to COVID-19
on an individual and a societal level. I also
wanted to represent the sense that the virus is
currently omnipresent." Simpson's past
projects include artwork and illustrations for
The New Yorker, a stamp commemorating
the London Olympics, and a forthcoming illustrated
edition of The Great Gatsby. He works from
his South East London studio beside the Thames.

Editor-in-Chief Jerry Kerns
Managing Editor Laura Lallos
Editorial Board Christine Benz, David M. Blanchett, Sarah Bush,
Elizabeth Collins, Lee Davidson, Adam Fleck, Sylvester Flood,
Jon Hale, Thomas M. Idzorek, Ben Johnson, Paul D. Kaplan, Haywood
Kelly, Dan Kemp, Grant Kennaway, Alex Morozov, Daniel Needham,
Don Phillips, Jeffrey Ptak, Hal Ratner, Daniel Rohr, Jeffrey Stafford,
Christopher Traulsen
Contributors Alex Bryan, Preston Caldwell, Susan Dziubinski, James Gard,
Mathew Hodge, Eric Jacobson, Benjamin Joseph, Charles Keenan,
Erin Lash, Briegel Leitao, Sachin Nagarajan, David Pang, John Rekenthaler,
Ruth Saldanha, David Sekera, David Swartz, Aron Szapiro, Chelsey Tam,
Ian Tam, Iris Tan
Art Director Alex Skoirchet
Designer Paul Zdon
Illustrator Adam Simpson
Photographers Matthew Gilson, Chester Higgins, David Lees
Copy Editor Mike Eiler
Publisher Sheila Berleman
Director of Advertising Sales Stuart Roge
Regional Sales Directors Dan Atkinson, Tony Lignelli, Joanna Sawyer
Morningstar, Inc.
CEO Kunal Kapoor
Managing Director, Design David Williams
Chief Marketing Officer Rob Pinkerton
Editor-in-Chief Nicolas Owens
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Morningstar - Q4 2020

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