Morningstar Advisor - December/January 2010 - 6
Executive Editor Jerry Kerns Managing Editor Ryun Patterson Editor-at-Large Don Phillips Contributing Editors Dan Culloton, Paul Justice, Haywood Kelly Contributors Karin Anderson, Michael Breen, Courtney Goethals Dobrow, Laura Fox, Andrew Gogerty, James Harrington, Bradley Kay, Jim Licato, Laura Pavlenko Lutton, Warren Miller, Magdalena Mroczek, Frank O’Connor, Nadia Papagiannis, Ilana Polyak, Jonathan Rahbar Data Editor Alina Tarlea Proofreader Jennifer Gierat Art Director Teofila Gomez Associate Art Director Alexander Skoirchet Production Designer Summer Bornman Illustrator Yarek Waszul Photographers John Bragg Publisher Jill Jacobs-Baar Marketing Director Leslie Banks Circulation Manager Dawn Rescigno Media Services Engineer Brian Schuneman Director of Advertising Sales Mary Uribe Regional Account Executives Erin Evans, Colleen Gregorio, Tony Lignelli, Stuart Roge Morningstar, Inc. Chairman and CEO Joe Mansueto President, Equity Research Group Catherine Odelbo Vice President, Financial Communications Business Mike Barad Managing Director, Design David Williams Visit www.managersinvest.com/opportunity or call 800.368.4410 How to Reach Morningstar Advisor Subscriber Services and Circulation magazine_custserv@morningstar.com Editorial and Letters to the Editor magazine_editor@morningstar.com Advertising magazine_adrates@morningstar.com Rate card available at http://advisor.morningstar.com/products/advisormagazine.asp Reprints and Licensing magazine_licensing@morningstar.com How to Reach Morningstar Customer Service 312 384-4000 Advisor Product Sales 877 586-5405 Data Questions 312 696-6600 Morningstar Advisor is published bimonthly by Morningstar, Inc., 22 W. Washington St., Chicago, IL 60602. An annual subscription for delivery in the U.S. is $60. All exhibit data in this magazine is provided by Morningstar and Ibbotson Associates unless otherwise noted. © 2009 Morningstar. All Rights Reserved. The information contained herein: (1) is intended solely for informational purposes; (2) is proprietary to Morningstar and/or its content providers; (3) may not be copied or distributed; (4) is not warranted to be accurate, complete, or timely; and (5) does not constitute investment advice of any kind. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is one smart choice Managers INVESTM ENT GROUP Mutual Funds ■ Separate Accounts ■ Investment Solutions Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or visit www.managersinvest.com for a free prospectus. Read it carefully before investing or sending money. Funds are distributed by Managers Distributors, Inc., member FINRA. The Funds are subject to the risks associated with investments in debt securities, such as default risk and fluctuations in the perception of the debtor’s ability to pay its creditors. High yield bonds (also known as “junk bonds”) are subject to additional risks such as the risk of default. Changing interest rates may adversely affect the value of an investment. An increase in interest rates typically causes the value of bonds and other fixed income securities to fall. Issuer of bonds may not be able to meet interest of principal payments when the bonds come due. Factors unique to the municipal bond market may negatively affect the value in municipal bonds. Investment income may be subject to certain state and local taxes, and depending on your tax status, the federal alternative minimum tax. Capital gains are not exempt from federal income tax. AD054 no guarantee of future results. “Morningstar” and the Morningstar logo are registered marks of Morningstar, Inc. Disclosure: Morningstar licenses its indexes to certain providers, including Barclays Global Investors, First Trust, Claymore, and Deutsche Bank, for use in exchange-traded funds and exchange-traded notes. These ETFs and ETNs are not sponsored, endorsed, issued, or sold by Morningstar. Morningstar does not make any representation regarding the advisability of investing in ETFs and ETNs that are based on Morningstar indexes. Morningstar Advisor December/January 2010
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Morningstar Advisor - December/January 2010
Table of Contents for the Digital Edition of Morningstar Advisor - December/January 2010
Morningstar Advisor - December/January 2010
Contents
New on MorningstarAdvisor.com
Letter from the Editor
Contributors
How Big a Role Do Alternative Investments Play in Your Practice?
In for the Long Term: Dana Emery
It's All About the Plan
Investment Briefs
A More Powerful Bankruptcy Prediction Model
This Time It’s Personal
Alternative Investments Go Mainstream
After Meltdown, More Advisors Turn to Alternatives
Where to Find Low Correlation
Commodities Are a Rock in a Hard Place
How Alternatives Protect Portfolios
Shipshape
Slow Scrutiny
Four Picks for the Present
Are Utilities’ Dividends Worth the Worry?
High-Confidence Stock Picks
Long-Short Funds That Pass a Simple Stress Test
Mutual Fund Analyst Picks
50 Most Popular Equity ETFs
Undervalued Stocks
VA Sales See Some Recovery
New at Morningstar
I Read the News Today, Oh Boy
Morningstar Advisor - December/January 2010 - Morningstar Advisor - December/January 2010
Morningstar Advisor - December/January 2010 - Cover2
Morningstar Advisor - December/January 2010 - Contents
Morningstar Advisor - December/January 2010 - 2
Morningstar Advisor - December/January 2010 - 3
Morningstar Advisor - December/January 2010 - New on MorningstarAdvisor.com
Morningstar Advisor - December/January 2010 - 5
Morningstar Advisor - December/January 2010 - 6
Morningstar Advisor - December/January 2010 - Letter from the Editor
Morningstar Advisor - December/January 2010 - Contributors
Morningstar Advisor - December/January 2010 - 9
Morningstar Advisor - December/January 2010 - How Big a Role Do Alternative Investments Play in Your Practice?
Morningstar Advisor - December/January 2010 - 11
Morningstar Advisor - December/January 2010 - In for the Long Term: Dana Emery
Morningstar Advisor - December/January 2010 - 13
Morningstar Advisor - December/January 2010 - It's All About the Plan
Morningstar Advisor - December/January 2010 - 15
Morningstar Advisor - December/January 2010 - Investment Briefs
Morningstar Advisor - December/January 2010 - 17
Morningstar Advisor - December/January 2010 - 18
Morningstar Advisor - December/January 2010 - 19
Morningstar Advisor - December/January 2010 - A More Powerful Bankruptcy Prediction Model
Morningstar Advisor - December/January 2010 - 21
Morningstar Advisor - December/January 2010 - 22
Morningstar Advisor - December/January 2010 - 23
Morningstar Advisor - December/January 2010 - 24
Morningstar Advisor - December/January 2010 - 25
Morningstar Advisor - December/January 2010 - This Time It’s Personal
Morningstar Advisor - December/January 2010 - 27
Morningstar Advisor - December/January 2010 - 28
Morningstar Advisor - December/January 2010 - 29
Morningstar Advisor - December/January 2010 - 30
Morningstar Advisor - December/January 2010 - 31
Morningstar Advisor - December/January 2010 - Alternative Investments Go Mainstream
Morningstar Advisor - December/January 2010 - 33
Morningstar Advisor - December/January 2010 - 34
Morningstar Advisor - December/January 2010 - 35
Morningstar Advisor - December/January 2010 - After Meltdown, More Advisors Turn to Alternatives
Morningstar Advisor - December/January 2010 - 37
Morningstar Advisor - December/January 2010 - Where to Find Low Correlation
Morningstar Advisor - December/January 2010 - 39
Morningstar Advisor - December/January 2010 - Commodities Are a Rock in a Hard Place
Morningstar Advisor - December/January 2010 - 41
Morningstar Advisor - December/January 2010 - How Alternatives Protect Portfolios
Morningstar Advisor - December/January 2010 - 43
Morningstar Advisor - December/January 2010 - 44
Morningstar Advisor - December/January 2010 - 45
Morningstar Advisor - December/January 2010 - 46
Morningstar Advisor - December/January 2010 - 47
Morningstar Advisor - December/January 2010 - Shipshape
Morningstar Advisor - December/January 2010 - 49
Morningstar Advisor - December/January 2010 - 50
Morningstar Advisor - December/January 2010 - 51
Morningstar Advisor - December/January 2010 - Slow Scrutiny
Morningstar Advisor - December/January 2010 - 53
Morningstar Advisor - December/January 2010 - 54
Morningstar Advisor - December/January 2010 - 55
Morningstar Advisor - December/January 2010 - Four Picks for the Present
Morningstar Advisor - December/January 2010 - 57
Morningstar Advisor - December/January 2010 - 58
Morningstar Advisor - December/January 2010 - Are Utilities’ Dividends Worth the Worry?
Morningstar Advisor - December/January 2010 - 60
Morningstar Advisor - December/January 2010 - 61
Morningstar Advisor - December/January 2010 - High-Confidence Stock Picks
Morningstar Advisor - December/January 2010 - 63
Morningstar Advisor - December/January 2010 - Long-Short Funds That Pass a Simple Stress Test
Morningstar Advisor - December/January 2010 - 65
Morningstar Advisor - December/January 2010 - Mutual Fund Analyst Picks
Morningstar Advisor - December/January 2010 - 67
Morningstar Advisor - December/January 2010 - 68
Morningstar Advisor - December/January 2010 - 69
Morningstar Advisor - December/January 2010 - 50 Most Popular Equity ETFs
Morningstar Advisor - December/January 2010 - 71
Morningstar Advisor - December/January 2010 - 72
Morningstar Advisor - December/January 2010 - Undervalued Stocks
Morningstar Advisor - December/January 2010 - 74
Morningstar Advisor - December/January 2010 - 75
Morningstar Advisor - December/January 2010 - VA Sales See Some Recovery
Morningstar Advisor - December/January 2010 - 77
Morningstar Advisor - December/January 2010 - 78
Morningstar Advisor - December/January 2010 - New at Morningstar
Morningstar Advisor - December/January 2010 - I Read the News Today, Oh Boy
Morningstar Advisor - December/January 2010 - Cover3
Morningstar Advisor - December/January 2010 - Cover4
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