Q3 2022 Strategies Research 40 44 48 53 54 55 Investors Once Again, the Stock Market Drops a Lot Spending Shifts Back to Services Quant U Immediate Variable Annuities: Real and Imagined Best Ideas Manager: Go Anywhere Passive: Striking the Right Balance Equity: Downturn Creates a Rare Deal Morningstar Conversation 56 62 66 70 72 74 78 80 The Pursuit of Equity Income Undiscovered Manager Looking Ahead Sector Rap Inoculated Against Uncertainty User Profile Service, Not Sales Data Dashboard Morningstar Global Market Barometer Morningstar Global Valuation Lens Morningstar Global Fund Flows Ten Questions 4