Morningstar - Q3 2022 - 6

Contributors
Magazine
Madeline Hume
This issue's Spotlight article was written by senior
analyst Madeline Hume, a founding member
of Morningstar's new and experimental research
team, which covers emerging assets such
as cryptocurrencies, residential real estate, and
carbon credits. " The digitalization of finance
and the proliferation of technology give
individuals more access to new assets, " she says.
" This offers a lot of opportunity, but also comes
with risks that may not be as well advertised.
We're trying to inform investors on the promise
and the peril of these assets. "
Hume started this research in her previous role
as a multi-asset analyst with Morningstar's
manager research group, where the growth of
model portfolios has led to the incorporation
of more idiosyncratic assets into portfolios. She
says that her new team's research " rhymes
with work that our mutual fund counterparts have
been doing in the thematic space, which
is acknowledging trends that are impacting our
economies and influencing our lives and
determining whether they actually have merit
as investment opportunities. "
Hume was initially surprised by the amount of
information available on cryptocurrencies:
" It's highly democratized. You can go on to any
number of websites and download all of
the transactions on a particular blockchain.
Looking at investor behavior is a powerful tool. "
That said, she warns that it's still early days
for this highly experimental, largely unregulated
investment. " There's always the possibility
of losing everything. "
Daniel Zender
Illustrator and artist Daniel Zender sought to
capture both the risk and promise of cryptocurrencies
for this issue's cover art. " I wanted my
art to feel both cautionary and magical, and
imagining the flat gold disk as an almost
otherworldly visitor seemed to tackle these issues, "
he says. " I saw the floating coin as a spaceship
but also a portal. " Zender splits his time between
Brooklyn and his painting studio in upstate
New York. This is his third cover for Morningstar
magazine. He is the recipient of the Young Guns
award from the Art Directors Club and a gold
and a silver medal from the Society of Illustrators.
6
Morningstar Q3 2022
Editor-in-Chief Jerry Kerns
Managing Editor Laura Lallos
Editorial Board Christine Benz, Adley Bowden, Elizabeth Collins,
Lee Davidson, Adam Fleck, Sylvester Flood, Jon Hale, Thomas M. Idzorek,
Paul D. Kaplan, Haywood Kelly, Dan Kemp, Grant Kennaway,
Alex Morozov, Daniel Needham, Don Phillips, Jeffrey Ptak, Daniel Rohr,
Jeffrey Stafford, Timothy Strauts, Christopher Traulsen
Contributors Andrew Akers, Karen Andersen, Bobby Blue, Madeline
Hume, Ryan Jackson, Michael Keaveney, Russel Kinnel, Kate Lin,
Fernando Luque, Adam Millson, Karla Paxton, Keith Reid-Cleveland, John
Rekenthaler, Adam Sabban, Antje Schiffler, David Sekera, Jasmin Sethi,
Christine St Anne, Tony Thomas, Greggory Warren, Emory Zink
Art Director Alex Skoirchet
Designer Paul Zdon
Illustrator Daniel Zender
Photographers Matthew Gilson, Marc Pagani, Samantha Zauscher
Copy Editor Mike Eiler
Proofreaders Mary Kate Chambers, Katie Sasamoto-Kurisu
Publisher Sheila Berleman
Director of Advertising Sales Stuart Roge
Regional Sales Directors Dan Atkinson, Emily Martin, Lisa Turner
Morningstar, Inc.
CEO Kunal Kapoor
Managing Director, Design David Williams
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https://www.morningstar.com/authors/2213/madeline-hume
Morningstar - Q3 2022

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