The Long View copertina

The Long View

The Long View

Di: Morningstar Christine Benz - Director of Personal Finance and Retirement Planning Ben Johnson - Head of Client Solutions Amy Arnott - Portfolio Strategist
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Empowering long-term investors with actionable insights on retirement, personal finance, and portfolio strategy. Hosts Christine Benz, Amy Arnott, and Ben Johnson talk with influential leaders in finance and investing every Wednesday.2025 Morningstar, Inc. Economia Finanza personale Gestione e leadership Leadership Ricerca del lavoro Successo personale
Episodi
  • Jeremy Grantham: ‘Almost Everything Looks More Attractive Than the US Equity Market’

    Jeremy Grantham: ‘Almost Everything Looks More Attractive Than the US Equity Market’
    Jun 30 2026
    Today on the podcast, we’re delighted to welcome back Jeremy Grantham to discuss his book, The Making of a Permabear: The Perils of Long-term Investing in a Short-term World, which he co-authored with Edward Chancellor. Jeremy is the long-term investment strategist at his namesake firm, Grantham, Mayo, Van Otterloo & Company, or GMO, which he co-founded in 1977. He serves on GMO’s asset-allocation committee and board of directors. Prior to GMO, Jeremy was co-founder of Batterymarch Financial Management and, before that, was an economist at Royal Dutch Shell. He earned his undergraduate degree from the University of Sheffield and his MBA from Harvard University. Jeremy is a member of the Academy of Arts and Sciences, holds a CBE from the UK, and is a recipient of the Carnegie Medal of Philanthropy. In 1997, he and his family started the Grantham Foundation for the protection of the environment, which supports research and action to address climate change. Episode Highlights 00:00:00 Writing Permabear With Edward Chancellor 00:06:44 Value Investing and Identifying Market Bubbles 00:15:07 Current Market Outlook and Valuation Risks 00:20:28 Value Discipline, SpaceX’s IPO, and Past Market Bubbles 00:27:26 Speculative Trading, Indexing, and Zero‑Sum Markets 00:34:24 Market Inefficiencies, Small-Cap Stocks, and the Greater Fool Theory 00:43:27 Artificial Intelligence Hype, Attractive Assets, and Market Pessimism 00:47:02 Climate Risks, Resource Constraints, and Shrinking Populations More From Morningstar 3 Warnings for Investors From the Ultimate Contrarian Ben Carlson: Exploring Risk and Reward What Today’s Index ETFs Get Right, and Wrong, for Investors If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com. Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances. If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    59 min
  • Will Danoff: ‘Be Very Careful of Unprofitable Companies’

    Will Danoff: ‘Be Very Careful of Unprofitable Companies’
    Jun 23 2026

    We’re taping this podcast live at the Morningstar Investment Conference, where we’re delighted to be joined by Fidelity’s Will Danoff. Will runs a number of Fidelity equity strategies, the best known of which is Fidelity Contrafund FCNTX, a mutual fund he’s been managing since September 1990. Morningstar named Will its Domestic-Stock Manager of the Year in 2007. Prior to becoming a portfolio manager, Will served as a retail analyst at Fidelity and assistant portfolio manager at Fidelity Magellan FMAGX. He graduated from Harvard University and earned his MBA at the Wharton School of the University of Pennsylvania. Will, welcome back to The Long View.

    Episode Highlights

    00:00:00 Introduction

    00:00:56 Investing Origins and Early Influences

    00:00:53 Retail Analysis and Unit Economics

    00:10:29 Reg FD Changes and Adapting Research Processes

    00:15:00 Identifying Durable Competitive Advantages

    00:19:24 SpaceX and Buying Private Companies

    00:22:40 Investing Mistakes and Avoiding Unprofitable Companies

    More From Morningstar

    2026 Morningstar Investment Conference: From SpaceX to Safeguarding Retirement

    Here’s Fidelity Contrafund’s Will Danoff’s Secret Sauce

    As Legendary Manager Will Danoff Leaves Fidelity, Should Investors Follow Him Out the Door?

    If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com.

    Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

    If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.


    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    30 min
  • Brian Moriarty and Jack Shannon: Putting Private Markets Funds Through Their Paces

    Brian Moriarty and Jack Shannon: Putting Private Markets Funds Through Their Paces
    Jun 16 2026

    Today’s guests are Morningstar’s Brian Moriarty and Jack Shannon. Brian is a principal, fixed-income strategies, for Morningstar. Before assuming his current role in 2015, Brian was a client solutions consultant for Morningstar Office, a practice and portfolio management system for independent financial advisors. Before joining Morningstar in 2013, he was a research assistant for DePaul University’s religious studies department. Brian holds a bachelor’s degree in political science from Michigan State University and a bachelor’s degree in Islamic world studies from DePaul University.

    Jack Shannon is a principal, equity strategies, for Morningstar. He focuses on actively managed equity strategies and is the lead analyst for MFS and Artisan Partners, among other firms. Before joining Morningstar in 2020, Jack worked in commercial banking and was a consultant providing subject-matter expertise on complex financial litigation. Jack holds a bachelor’s degree in economics and history from James Madison University. He also holds a master’s of business administration in investments and corporate finance from the University of Notre Dame’s Mendoza College of Business.

    Episode Highlights

    00:00:00 Introduction

    00:02:06 What are Private Markets, and What Investment Opportunities Do They Provide?

    00:03:13 Do Semiliquid Funds Provide Easier Access to Private Markets?

    00:05:57 Applying Morningstar Processes to Evaluate Private Markets

    00:09:50 Managing Liquidity in Private Market Investments

    00:18:48 Valuation and Transparency: Putting Private Assets Under the Microscope

    00:24:07 Payment in Kind as a Valuation Concern

    00:28:02 Public vs. Private Markets: Understanding Risk, Language, and Infrastructure Differences

    00:39:28 Building Methodology to Explain Private Asset Fees and Incentive Structures

    00:44:22 What Morningstar Medalist Ratings Signal for Semiliquid Funds

    More From Morningstar

    Morningstar’s Guide to Public/Private Investing

    Private Equity Funds Step Into the Spotlight

    Private Credit Pricing: Are Prosecutors Opening Up Pandora’s Box?

    If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com.

    Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

    If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.


    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    50 min
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