February/March 2014 Departments 6 Contributors 7 Letter From the Editor Letter From the Board 8 Fixing the Trust Deficit Ivory Towers 14 Rethinking the Path to Retirement A new study says retirees should actually increase their equity exposure late in life. 18 Trends 4 Same Old, Same Old Undiscovered Manager 66 GDP, employment, and consumption growth are stuck in a narrow range-and likely to remain so in 2014. Morningstar Conversation 60 Banking on Performance User Profile 78 Regional banks aren't typically known for their mutual funds. Don't tell that to this trio of managers. 25 Global Briefs Morningstar Managers of the Year Behavior Gap 12 22 Preparing for the Next 50 Years 10 Questions 10 Economic Outlook: United States Sector Rap 70 The Economic Implications of an Older World Is the Affordable Care Act Healing Health Care's Woes? As the ultimate impact of Obamacare comes into focus, the sector's winners and losers are becoming more apparent. People are living longer, but having fewer children. Michael Falk and Laurence Siegel debate the ramifications for global growth. Michael Durbin relishes being on the forefront of the advisory industry's transformation. By the Numbers 80 Our Favorite Mutual Funds 84 50 Most-Popular Equity ETFs 86 Undervalued Stocks With Wide Moats Phillips Curve Best Idea 74 Baxter Has a Positive Prognosis A strong pipeline should help the health-care firm fend off competitive threats. Leading Fidelity's Charge for RIAs 88 Moving the Goal Post