Word: morningstar
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...average manager's age still stands at a respectable 48, according to fund researcher Morningstar, but new technologies and new demand for investments have created a bull market for fund managers. And a deep resume isn't necessarily a requirement for the job. Grech, for instance, has been out of business school for two years, joining precocious stock pickers like his rising Fidelity colleague Erin Sullivan, also 28. While few shops actually give newbies a chance to run a fund as early as Fidelity, it's not too hard to find a fund at any firm that's watched over...
...sales at Merrill Lynch (which controls $10 billion in Dow-dog assets), notes that a buy-and-hold investor in the first "Select 10" UIT in 1991 would be up 184% by now, vs. 171% for the Dow. But clearly the advantages first noted by O'Higgins have eroded. Morningstar Inc. studied the strategy over the 24 years ending in 1996. It found that the first half of the period--before anyone really used this approach--produced almost all of the outperformance: 15.4% annually for the Dow dogs, vs. 6.5% for the Dow in the first 12 years...
...sweeping bets on entire sectors of the economy, like technology, Stansky methodically studies individual companies and favors blue-chip stocks over the small- and medium-size companies that Vinik preferred, in the manner of his mentor Peter Lynch. "Stansky will be a good fit," says Don Phillips, president of Morningstar, which tracks mutual funds. "What was always a little difficult for Vinik was that he was trying to run Magellan as if it were a smaller, more flexible fund." Stansky's approach promises less volatility in the performance of the fund. That's not a bad idea, since Magellan...
Experienced pilots were left to wonder what happened. Perhaps Jessica would not have been able to maneuver out of the storm, but Reid certainly would have. Warren Morningstar of the Aircraft Owners and Pilots Association, said, with dual controls "the pilot in command can easily control the aircraft from either seat. There is never a situation in which the nonpilot can put the plane into such immediate peril that there is no recovery." Only after an analysis and "probable cause" finding in about six months will the FAA review its regulations covering young pilots...
...interested in other people," said Tim P. Morningstar '97, a Crimson editor. "He was selfless in that sense...