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Investing Specialists

Morningstar Runs the Numbers

We take a numerical look through this week's Morningstar research. Plus, our most popular articles and videos for the week ended July 6.

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Inspired by Harper's Index (with a tip of the hat to FiveThirtyEight's Significant Digits blog), Morningstar Runs the Numbers uses a numbers-based approach to highlight recent Morningstar research, along with some outside news stories.

At the end of the second quarter, the median stock we cover was about fairly valued. Drilling down to the sector level, though, we see proportionately more opportunities in less-cyclically sensitive sectors like consumer defensive and healthcare. Read our equity analysts' takes on the biggest themes and the 31 best investment opportunities across sectors.

Katie Reichart from our manager research group discussed Fidelity's recent tweaks to its target-date lineup. The firm is scaling back the equity exposure for target-date funds within 10 years of their target date to make the allocation a little more conservative. "They are adding some long-term Treasuries and some TIPS exposure, which will also help protect against inflation," she said.

$3.5 Million
The U.S. Postal Service has been ordered to pay $3.5 million for copyright infringement after mistakenly using the wrong Statue of Liberty on a stamp, reported

The yield curve flattened over the second quarter, said fixed-income manager research analyst Emory Zink. Given a backdrop of rising rates and geopolitical tensions, the Bloomberg Barclays U.S. Aggregate Bond Index held up reasonably well over the quarter, losing a modest 16 basis points relative to the first quarter's 1.5% dip. Zink discusses corporates, munis, and global bonds' second-quarter performance. 

Some investors love simplicity. Particularly investing enthusiasts who self-identify as "Bogleheads" and are inspired by Vanguard founder Jack Bogle's philosophy. Three funds could be all you need, they argue: one domestic-stock index fund, one international-stock index fund, and one investment-grade domestic bond index fund. Morningstar's vice president of research John Rekenthaler weighs in on whether this allocation is sufficient and sensible.  

The Apple App Store turned 10 this week, Apple said on its website. 


"When Apple introduced the App Store on July 10, 2008 with 500 apps, it ignited a cultural, social and economic phenomenon that changed how people work, play, meet, travel and so much more."

Speaking of Apple, after taking a fresh look at our thesis, we are downgrading Apple's moat trend from positive to stable, said senior equity analyst Abhinav Davuluri. We are maintaining our $175 per share fair value estimate and narrow-moat rating, he said. 

Most Popular Articles                     

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Most Requested Stock Quotes
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Vanguard FTSE Emerging Markets ETF does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.