Winter 2008 Features Spotlight: Style Investing Many investors forget that the Morningstar Style Box is more description than prescription. It’s a tool to help investors construct and monitor portfolios, not a rule to invest by. 35 Unlock the Box The Morningstar Style Box should ease your investing decision-making, not confine it. 40 Fashion Change Praising “flexible” managers is now all the rage. But where is the evidence supporting the style-box hoppers? 44 The View from the Investment Side Two Morningstar portfolio managers use the style box, but not to police their investments. Morningstar Conversation 54 Weighting the Fundamentals Rob Arnott launched his fundamental indexing strategy with a tailwind. But as the value rally ebbs, will his theories hold water? Undiscovered Managers 62 Wire-to-Wire Consistency With their cheap fees and duration-neutral approach, Mary Ellen Stanek and team earn shareholders steady returns with low risk. 66 The Secret’s Out Investors are finding a way to John Keeley’s funds thanks to a unique strategy and great returns. 3