In the June 1, , issue of Crain's Chicago Business , Mansueto explained: "I went back and read all the Berkshire Hathaway annual reports and got very interested in securities analysis. I would look at all the Buffett holdings throughout the '70s and try and figure out why he purchased certain companies, why he found them attractive. Sparked by Buffett, I started contacting other talented fund managers, and I began collecting all these shareholder reports.
And once I had all of these annual reports scattered across my kitchen table, I thought it would be neat to try to compile all of this into one book, to see how outstanding investors thought and what kind of stocks they invested in. After graduating with his MBA in , Mansueto and college roommate Kurt Hanson started a market research firm that served the radio industry.
Mansueto later went to work for the Chicago venture capital firm Golder Thoma, where his responsibilities included applying for cellular licenses.
His next job was a stint with the investment firm Harris Associates. Mansueto initially printed copies of the survey, which then resembled a photocopied computer printout. In the same Crain's Chicago Business article, Mansueto recalled the days when Morningstar was a fledgling start-up: "I just put all the furniture from the living room into the bedroom, bought some cheap tabletops, some PCs and started going.
I wrote to all the fund companies and asked them for their literature. I wrote programs to manage data and had help key-punching in portfolios. The IBM PC had been introduced, and it made it affordable for someone without a lot of capital to get into a business like this.
Ten years earlier, it would have been a lot more costly. In fact, I spent a couple of months researching computer platforms. That year, Mansueto chose a more flexible name for his company, changing it to Morningstar Inc.
In the June 1, , issue of Crain's Chicago Business , Mansueto explained that he was first influenced by the author's themes of independence, thrift, and self-reliance as a college student, and that they remained important to him during his business career: "I thought those were good qualities for a company to embody. And I still remembered that last line of Walden: 'The sun is but a morning star.
Morningstar evolved rapidly during the s, introducing a host of new offerings. This was especially evident during the first half of the decade. In a new bi-weekly publication called Morningstar Mutual Funds was introduced, providing coverage of 1, mutual funds.
The Morningstar Mutual Fund , an annual publication summarizing carefully selected funds, was unveiled in Morningstar's acquisition of MarketBase added stock coverage to its offerings. The product included annual and semi-annual reports, prospectuses, and other Morningstar reports. After reducing its work force by 5 percent and scaling back some offerings in , Morningstar migrated to the World Wide Web.
The development of Morningstar. Several important developments occurred in In January the company announced a joint venture with Tokyo's Softbank Corporation that resulted in the formation of Morningstar Japan K. In the wake of deregulation it became possible for Japanese banks to sell mutual funds at retail, and Japanese consumers gained the ability to directly hold foreign assets.
The new venture was established to provide existing Morningstar products, as well as new offerings, to a new segment of Japanese investors. Phillips had joined the company as its first analyst in , after answering an ad in the Chicago Tribune. In his first job at Morningstar Phillips provided coverage of different mutual funds every two weeks. By he had been promoted to publisher of Morningstar Mutual Funds , with a person staff that included 12 analysts.
In March , Timothy K. Become a sponsor ». Navigation menu Personal tools Log in. Namespaces Page Discussion. Views Read View source View history. Mutual Funds. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data.
We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Markets News Trading News. News Markets News.
Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.
0コメント