Our guest on the podcast today is Don Phillips. Don is a managing director for Morningstar. He joined the company in 1986 as its first mutual fund analyst and soon became editor of the flagship print publication Morningstar Mutual Funds, establishing the editorial voice for which the company is best known. He helped to develop the Morningstar Style Box, the Morningstar Rating, and other distinctive proprietary Morningstar innovations that have become industry standards. Don has served in a variety of leadership roles at Morningstar, most recently head of global research, before paring back his schedule to take on a part-time nonmanagement role. He holds a bachelor’s degree from the University of Texas and a master’s degree from the University of Chicago.

Episode Highlights

00:01:57 Viewing Investing From 100,000 Feet Up
00:08:20 The Role of the Manager, From Salesmanship to Stewardship
00:11:18 What Indexing and AI Make Easier—and What They Risk
00:17:50 Private Credit and Private Equity Risks for Retail Investors
00:28:01 Finding the Unmet Needs in Asset Management
00:35:47 Fixed-Income Funds as the Industry’s Achilles’ Heel
00:43:42 The Value of a Liberal Arts Education and the Power of Storytelling

More From Morningstar

Morningstar’s Why

Don Phillips: We’re All in the Behavior Modification Business

Private Equity Funds Step Into the Spotlight

If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com.

Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Don Phillips: Encouraging Better Outcomes for Investors

The Long View

Don Phillips: Encouraging Better Outcomes for Investors