Anyone hear back from Morningstar?

Anyone hear back from Morningstar about the MDP program?

Morningstar ETF conference

Will any of you be attending the Morningstar ETF conference on Oct 3rd-5th? Is it worth attending? I am currently a senior and graduate in December and was wondering if this would be a solid opportunity to network with potential employers.

Would like a bit of help with what to look at for some research

Hi guys,

I have the chance to do an internship in January with a start up fund, but the managers would like me to do a little research project over Christmas first to see if I can do the work and make a nice presentation out of it.

Essentially, I have been asked to compile some information about other funds in the area of convertibles (something the manager wants to make a main focus of the fund). He referred me to morningstar to get a lot of the information and gave me a few things that I should be looking at when gathering info, however as someone with hitherto limited experience to this type of thing, I was hoping I could get a little more guidance about any other things that would be good to look at.

Morningstar's reputation

What is their reputation in the industry? Their culture is top notch and fairly easygoing, but are their analysts any good and do any good buy side guys subscribe to their reports. Who are their main clients?

Also how does their pay look for entry level associates? Glassdoor data says 60 + 10 for Analyst positions, but couldnt find anything for associates.

Waddell & Reed and the flash crash hypocrisy

Halloween's only three weeks away and we have a brand new witch to hunt. By now, everyone has heard of Waddell & Reed and how the Kansas City mutual fund is reason du jour for the end of capitalism and further legalizing of market manipulation.

As the story goes, on the afternoon of May 6, 2010 an algorithm propelled sell-off of $4.1 billion of futures contracts linked to the S&P 500 sent the market reeling. As with all good witch hunts, Waddell hasn't officially been named, but via leakage that would make the BP oil spill seem tame in comparison, we have our new villain.

I can hear the sound of Blankfein's cheeks stretching into a grin. It sounds like press on nails on a chalkboard.

Who is Bruce Berkowitz?

We live in America. We worship the stars. Some say that the only thing we love more than building someone up to stardom, is ripping them from their pedestal and watching them sink into the mud.

Wall Street may exemplify this collective character flaw better than any other other high profile segment of society. Boesky, Milken, Madoff, Fuld...just to name a few. America loves the Wall Street villain, so it's no surprise that the good guys often get little mention.

Earlier this morning, I was reminded of this phenomenon.


Just wondering...

Why does Morningstar's fair equity value sometimes so far away from the current market value?

The efficient market hypothesis sets the current market value as the correct one. However, we know that sometimes the market underprices things. That's fine, but it does not make sense when Morningstar projects JNJ's equity value to be $80 when its highest price over the past decade was a little bit over 70.

Is Morningstar reliable? My financial advising friends use it all the time. My own valuation model confirms JNJ's equity value to be around $80. But, the difference between the estimate and reality is just too great for me to fathom.

Please help...

Morningstar Development Program

Does anyone have insight to this program? How are the interviews? Comp?