The Long View John Rekenthaler: ‘The House Is With You When You’re Investing’
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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.
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Accidental Arrival
- John Rekenthaler joined Morningstar because of the 1987 stock market crash.
- Ironically, Morningstar was hiring because Joe Mansueto, the founder, remained optimistic about growth.
Finding Growth
- Seek out growth-oriented companies for career opportunities.
- However, be prepared for challenges and rapid changes in such environments.
Dialing for Data
- Early in his career, John Rekenthaler cold-called portfolio managers, often encountering resistance.
- Morningstar's growing reputation eventually made these calls more routine.