The Long View

John Rekenthaler: ‘The House Is With You When You’re Investing’

Jan 28, 2025

John Rekenthaler, retiring after 36 years at Morningstar, reflects on his influential career as a mutual fund analyst and vice president of research. He shares insights on the evolution of fund management, from high-cost load funds to the rise of low-cost index options. Rekenthaler discusses the importance of adaptability in both retirement and investing, and he examines safe withdrawal rates, including the implications of the 4% rule. The conversation explores the shifting relationship between analysts and portfolio managers in the financial sector.

48:06

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John Rekenthaler

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Quick takeaways

John Rekenthaler's retirement reflects a significant transition after 36 years at Morningstar, allowing him to explore new writing avenues beyond investments.

The heartfelt feedback from readers regarding Rekenthaler's farewell column underscores the impact of his empowering, explanatory writing style on their investment experiences.

Rekenthaler's emphasis on intuition over analytical decision-making illustrates a unique approach that has guided his successful career in the evolving investment landscape.

Deep dives

Transitioning into Retirement

John Reckenthaler's transition into retirement marks a significant milestone after 36 years at Morningstar. He expresses contentment with the next phase of his journey, stating that he will continue writing columns and may start a blog to explore a wider range of topics beyond investment. This blog will allow him to question common perceptions and analyze data to provide clarity on various issues, including those misunderstood by the public, such as the realities of violent deaths. His aim is to debunk myths while sharing insights that reflect his commitment to data-driven information.

Intro

4min

Navigating Transitions: Writing, Retirement, and Growth

15min

The Evolving Relationship Between Analysts and Portfolio Managers

4min

The Evolution of Fund Management

21min

Exploring Safe Withdrawal Rates and Investment Strategies

2min

Reflections on Investment Literature and Closing Remarks

3min

Our guest this week is our colleague, John Rekenthaler. John is retiring from Morningstar after 36 years. He was one of Morningstar’s early hires. Joe Mansueto and Don Phillips brought John on as a mutual fund analyst in 1988, and he rose to become the company’s vice president of research. He worked on many of Morningstar’s foundational methodologies, including the star rating and style box, and helped launch the retirement business. But he’s best known as author of “The Rekenthaler Report,” an investment column on Morningstar.com that has become one of the most popular and widely cited in investing in personal finance. John holds a BA from the University of Pennsylvania and an MBA from the University of Chicago. John, welcome back to The Long View.

Background

Bio

john.rekenthaler@morningstar.com

“Farewell, for Now,” by John Rekenthaler, Morningstar.com, Nov. 12, 2024.

“The Best (and Worst) of John Rekenthaler, in His Own Words,” by Emelia Fredlick, Morningstar.com, Jan. 24, 2025.

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Morningstar Style Box

Morningstar Ratings

“Christine Benz and John Rekenthaler: How Much Can You Safely Spend in Retirement?” The Long View podcast, Morningstar.com, Dec. 21, 2021.

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