Episode description
Episode description
Our guest this week is John Rekenthaler. Rekenthaler is a director in Morningstar Research Services and a feature contributor to our platforms, including Morningstar.com. A lucid thinker and brilliant writer, his popular "Rekenthaler Report" column has become a must read among investors, financial advisors, fund industry participants, and beyond.
Rekenthaler began his career at Morningstar in 1988 and has worn a number of hats, including leadership roles in our research and investment management divisions. Among other achievements, Rekenthaler has been a key player in developing some of Morningstar's best-known tools, including the Morningstar Rating for funds and the Morningstar Style Box. He holds a bachelor's degree in English from the University of Pennsylvania and a master's degree in business administration from the University of Chicago Graduate School of Business.
Background
Morningstar Rating for funds methodology
Morningstar Style Box methodology
Investor Behavior
Morningstar's Mind the Gap study
Rekenthaler Report: "Mutual Funds: Where Fun Came to Die"
Rekenthaler Report: "3 Reasons Index Investors Deserve Perdition (or Not)"
Rekenthaler Report: "Up-Front Investment Fees Are (Almost) No More"
Incentives
Rekenthaler Report: "Give Performance Fees a Chance"
How John Invests
Rekenthaler Report: "What's in My Portfolio?"
Most and Least Popular Columns
Rekenthaler Report: "Enough with Revenue Sharing!"
Rekenthaler Report: "About that Rigging Claim"
Flash Boys: A Wall Street Revolt, by Michael Lewis, March 2014.
Compelling Academic Research
Rekenthaler Report: "Predicting Mutual Fund Returns With the Ownership Lens"
"Judging Fund Managers by the Company They Keep," by Randolph Cohen, Joshua Coval, and Lubos Pastor; NBER Working Paper No. 9359, December 2002.
The State of Retirement
Rekenthaler Report: "The Retirement Crisis That Isn't?"
"A Perplexing Tale About 401(k)s," by Scott Cooley; Morningstar.com, Nov. 26, 2015.
Rekenthaler Report: "The British Show How to Improve 401(k)s"
Best and Worst Innovations
Rekenthaler Report: "Why ETFs Succeeded for Retail Investors"
Rekenthaler Report: "Tactical-Allocation Funds: Even Worse Than Expected"
Jack Bogle
Rekenthaler Report: "Jack Bogle Strikes Back!"
Rekenthaler Report: "Jack Bogle's (Somewhat) Accidental Legacy"
Corporate Governance
"Anticompetitive Effects of Common Ownership," by Jose Azar, Martin Schmalz, and Isabel Tecu; Journal of Finance, May 2018.
Rekenthaler Report: "Are Index Funds Too Soft on CEOs?"
Rekenthaler Report: "The Latest Salvo Against Indexing"
Rekenthaler Report: "The Doctrine of Shareholder Value Has Indeed Helped Shareholders"
Albert J. "Chainsaw Al" Dunlap bio
What John Reads
Berkshire Hathaway shareholder letters
Reflections on Investing
Rekenthaler Report: "My Investment Howler"