The Long View
Morningstar
Expand your investing horizons and look to the long term. Join hosts Christine Benz and Jeff Ptak as they talk to influential leaders in investing, advice, and personal finance about a wide-range of topics, such as asset allocation and balancing risk and return.
- 1 hour 5 minutesBarry Ritholtz: ‘How Not to Invest’
Today on the podcast, we’re welcoming Barry Ritholtz. He’s co-founder, chairman, and chief investment officer of Ritholtz Wealth Management, a firm that was launched in 2013. He’s the creator and host of Masters in Business, one of the earliest finance-related podcasts. He also regularly posts on The Big Picture, where he’s been covering everything investing related since 2003. He is the author of Bailout Nation, and his latest book, How Not to Invest: The Ideas, Numbers, and Behaviors That Destroy Wealth—and How to Avoid Them, has just been published.
Background and Books
How Not to Invest: The ideas, numbers, and behavior that destroy wealth—and how to avoid them
Podcasts and More
“Masters in Business - Ray Dalio Full Show,” Masters in Business podcast, Nov. 30, 2018
“An Interview With Ken Feinberg: Masters in Business,” Masters in Business podcast, Oct. 9, 2015
“MiB: Charley Ellis on Rethinking Investing,” Masters in Business podcast, Feb. 21, 2025
“Why Fear Is an Investor’s Worst Enemy” by Samantha Lamas from the 2017 Morningstar ETF Conference, Morningstar.com, Sept. 12, 2017
“Rabbithole: What Do People Get Wrong About Money?” The Big Picture, March 10, 2025
“It’s Been 40 Years Since Our Cover Story Declared ‘The Death of Equities,’ ” by Peter Coy, Bloomberg, Aug. 13, 2019
Readings
Winning the Loser’s Game: Timeless Strategies for Successful Investing, Eighth Edition, by Charles D. Ellis
Expert Political Judgment: How Good Is It? How Can We Know?, by Philip E. Tetlock
Four Thousand Weeks: Time Management for Mortals, by Oliver Burkeman
Principles, by Ray Dalio
18 March 2025, 5:00 pm - 52 minutes 54 secondsMellody Hobson: ‘The Fire Was Lit by Scarcity’
Our guest on the podcast today is Mellody Hobson. She’s the author of a new book for children called Priceless Facts About Money. In addition, she’s co-CEO of Ariel Investments, where she is responsible for management, strategic planning, and growth for all areas of Ariel outside of research and portfolio management. Additionally, she serves as chairman of the board of trustees of Ariel Investment Trust, the company’s publicly traded mutual funds. Prior to being named co-CEO, spent nearly two decades as the firm’s president. Outside of Ariel, Mellody has been active on corporate boards, including Starbucks, JPMorgan Chase, Estee Lauder, and DreamWorks Animation.
Background
Gratitude and Appreciation to Mellody Hobson, Starbucks
“Just one Chicagoan made list of the 100 most powerful people in business,” by Jack Grieve, Crain’s Chicago Business, Nov. 12, 2024
“Why Sheryl Sandberg, Bill Bradley, and Oprah Love Mellody Hobson,” by Bethany McLean, Vanity Fair, March 30, 2015
Book and More
“Mellody Hobson: ‘Most parents would rather talk about a condom than a credit card’ ” by Madison Darbyshire, Financial Times, Dec. 10, 2024
Oprah’s Favorite Things 2024 List Is Here!
“What Parents Get Wrong About Money and Their Kids” | The Oprah Podcast, Jan. 28, 2025
Investing Discussions
“Ariel Investments Starts New Fund to Tap Into Women’s Sports,” by Miranda Davis, Bloomberg, Jan. 30, 2025
“Mellody Hobson, Co-CEO & President, Ariel Investments,” The Economic Club of Chicago, Dec. 18, 2024.
“Market Lessons from a Legendary Career of Doing Well by Doing Good,” 2024 Prime Quadrant Conference | Moderated by Mo Lidsky, Dec. 11, 2024
“Solving the World’s Hardest Problems with Mellody Hobson: Closing the Racial Wealth Gap,” Center for Strategic & International Studies, Aug. 28, 2024
“Mellody Hobson on Taking Tough Feedback,” Ted Talk, June 15, 2021.
“A Conversation with Mellody Hobson & Melonie Parker,” Catalyst Awards 2024, March 21, 2024.
11 March 2025, 5:00 pm - 54 minutes 24 secondsRamit Sethi: ‘We Have to Make Money Fun and Connective’
Hi, and welcome to The Long View. I’m Christine Benz, director of personal finance and retirement planning for Morningstar. Today on the podcast, we welcome back Ramit Sethi. Ramit is a personal finance expert and author. His latest book is called Money For Couples: No more stress. No more fights. Just a 10-step plan to create your Rich Life together. It’s already a bestseller, as was his first book, I Will Teach You to Be Rich. Ramit is the founder of IWillTeachYouToBeRich.com, and he’s also the host of a podcast called I Will Teach You to Be Rich, which features in-depth conversations with couples about money. In addition, he hosts a Netflix show called How to Get Rich.
Background
Books
Money for Couples podcast
Topics
“Episode 66: I’m Marrying Him in 1 Month—But Our Finances Are Terrifying Me,” I Will Teach You to Be Rich podcast, Iwillteachyoutoberich.com.
“Ramit Sethi Says Every Couple Should Align on ‘4 Key Numbers’—Here’s What They Are and Why They Matter,” by Victoria Vesovski, moneywise.com, Feb. 8, 2025.
“Money Dials: How You Spend and Why (Expert Advice on Spending),” by Ramit Sethi, iwillteachyoutoberich.com, June 12, 2024.
“The Happiest Couples Use 2 Phrases When Talking About Money, Says Self-Made Millionaire,” by Kamaron McNair, cnbc.com, Feb. 13, 2025.
“Love and Money: Combining Finances After Marriage,” by Ramit Sethi, iwillteachyoutoberich.com, Oct. 13, 2024.
“The ‘Dangerous’ but Common Mistake a Self-Made Millionaire Says Couples Often Make With Money,” by Cheyenne DeVon, cnbc.com, June 3, 2024.
“Conscience Spending Basics (a Guide to Achieving Your Rich Life),” by Ramit Sethi, iwillteachyoutoberich.com, Dec. 14, 2024.
Other
“Ramit Sethi: ‘What Is Your Rich Life?’” The Long View podcast, Morningstar.com, Nov. 11, 2020.
“Ramit Sethi: How Can Couples Make Peace Over Money?” The Long View podcast, Morningstar.com, Nov. 30, 2021.
“Ramit Sethi: Investing Shouldn’t Be Your Identity,” The Long View podcast, Morningstar.com, June 6, 2023.
4 March 2025, 7:08 pm - 54 minutes 38 secondsLouis-Vincent Gave: ‘The Future Is Being Built Over There’
Our guest this week is Louis-Vincent Gave. Louis is founding partner and CEO of Gavekal Group, a research and financial services firm based in Hong Kong. After graduating from Duke University and studying Mandarin at Nanjing University, Louis joined the French Army, then went on to become a financial analyst at Paribas, first in Paris, then in Hong Kong. In 1999, he launched Gavekal with his father, Charles, and Anatole Kaletsky. Louis is the author of seven books, the latest being, Avoiding the Punch: Investing in Uncertain Times.
Background
Avoiding the Punch: Investing in Uncertain Times
Clash of Empires: Currencies and Power in a Multipolar World
Simple Economic Concepts For Financial Markets
China
“China Enters the AI Chat (With Louis-Vincent Gave)” by Liz Ann Sonders and Kathy Jones, schwab.com, Feb. 14, 2025.
“China Has ‘Leapfrogged’ the West | Louis Vincent Gave,” Wealthion, youtube.com, Jan. 28, 2025.
“China Overtaking the US in Strategic Sectors, Says Louis-Vincent Gave,” Financial Sense, Oct. 22, 2024.
“Is DeepSeek China’s Sputnik Moment?” by John Cassidy, The New Yorker, Feb. 3, 2025.
“Xiaomi Automobile Super Factory, Producing One SU7 Every 76 Seconds,” Discover China Auto, youtube.com.
“The Evergrande Crisis Explained: Should Investors Worry?” by Lewis Jackson, Morningstar.com, Sept. 22, 2021
“China & the American Imperial Economy | Louis-Vincent Gave,” Hidden Forces podcast Episode 364, hiddenforces.io, May 14, 2024.
“The 3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s New 13F Filing,” by Susan Dziubinski, Morningstar, Nov. 14, 2024
Tariffs
“Are US Tariffs A Tool Or A Goal?” by Louis-Vincent Gave, Evergreen Gavekal, Jan. 9, 2025.
Asia and Emerging Markets
“Louis-Vincent Gave—Prepare for a Boom in Emerging Markets,” by Robert Huebscher, Vettafi Advisor Perspectives, May, 8, 2023.
Twilight of the Gods: War in the Western Pacific, 1944-1945, by Ian W. Toll, W.W. Norton & Company, 2020.
25 February 2025, 6:00 pm - 52 minutes 53 secondsPreston Cherry: ‘Money Can Indeed Buy Happiness’
Our guest on the podcast today is Dr. Preston Cherry. Dr. Cherry is the author of a new book called Wealth in the Key of Life: Finding Your Financial Harmony. He’s also founder and president of Concurrent Wealth Management. In addition, he serves as Assistant Professor of Finance and Head of the Personal Financial Planning Program at the University of Wisconsin-Green Bay, where he also serves as the Director of the Charles Schwab Foundation Center for Financial Wellness. Prior to assuming his current roles, he served in lead and internal financial planning roles in institutional retirement sales. He has also served as co-investment manager at a Registered Investment Advisor and as a mutual fund wholesaler.
Background
Life Money Balance podcast
Wealth in the Key of Life: Finding Your Financial Harmony
Schwab Center for Financial Wellness
Themes in Book
“What Is Financial Freedom?” by Preston Cherry, concurrentfp.com, July 9, 2024.
“Building Wealth With Gratitude: Essential Tips for Gen X,” Life Money Balance podcast, youtube.com, Nov. 26, 2024.
“How to Retire Comfortably: Essential Financial and Emotional Tips for a Joyful Retirement,” by Preston Cherry, concurrentfp.com, Nov. 13, 2024.
Other
“Dr. Preston Cherry: ‘Money and Life Intertwined,’” The Long View podcast, Morningstar.com, Nov. 22, 2024.
Songs in the Key of Life, Stevie Wonder album
“Does Money Buy Happiness? Here’s What the Research Says,” by Michele Berger, knowledge.wharton.upenn.edu, March 28, 2023.
The Millionaire Next Door, by Thomas Stanley and William Danko
18 February 2025, 7:10 pm - 52 minutes 5 secondsPam Krueger: How to Find a Financial Advisor
Hi, and welcome to The Long View. I’m Christine Benz, director of personal finance and retirement planning for Morningstar. Our guest on the podcast today is Pam Krueger. Pam is the founder and CEO of Wealthramp, which seeks to match consumers with financial advisors who fit their needs. Pam is also the creator and co-host of MoneyTrack, seen on PBS and many other public media stations around the country. And she co-hosts the Friends Talk Money podcast with Terry Savage and Richard Eisenberg. In 2021, she received the Special Achievement Award from the National Association of Personal Financial Advisors, or NAPFA, for her work educating the public about the value of fee-only financial advice. Pam, welcome to The Long View.
Background
Search for an Advisor
“The Best Financial Advisor for you Might not Be Local,” by Pam Krueger, wealthramp.com, March 19, 2024.
“Which Financial Advisor Credentials Matter Most?” by Pam Krueger, wealthramp.com, Feb. 26, 2024.
“Financial Advisor vs. Financial Coach: Which Is Best?” by Pam Krueger, wealthramp.com, July 31, 2023.
“How a Fiduciary Advisor Can Add Value to Your Portfolio,” by Pam Krueger, wealthramp.com, June 22, 2023.
“What’s in It for Me? Five Things You’ll Need to Know When Choosing a Financial Advisor,” wealthramp.com, Feb. 16, 2023.
“Protecting Your Interests: Why Fiduciary Matters,” wealthramp.com, March 6, 2023.
“Better Financial Advice Starts With Better Advisor Conversations,” by Pam Krueger, wealthramp.com, Oct. 29, 2024.
Other
“Tiffany Aliche ‘The Budgetnista’ Presents Money Match in Partnership With Wealthramp to Improve the Financial Advisor Search,” wealthramp.com, Oct. 19, 2023.
“Tiffany Aliche: Helping People ‘Move Past the Shame,’” The Long View podcast, Morningstar.com, Nov. 20, 2023.
11 February 2025, 6:00 pm - 53 minutes 51 secondsSahil Bloom: ‘Curiosity Is the Fountain of Youth’
Hi, and welcome to The Long View. I’m Christine Benz, director of personal finance and retirement planning for Morningstar. Our guest on the podcast today is Sahil Bloom. He’s the author of a new book called The 5 Types of Wealth, and he also writes a newsletter called the Curiosity Chronicle. He’s the founder and managing partner of SRB Holdings and SRB Ventures. Before embarking on a career as a content creator, Sahil was a vice president at a private equity fund. He double majored in economics and sociology at Stanford University, and he also received his master’s in public policy there. Sahil, welcome to The Long View.
Background
The 5 Types of Wealth: A Transformative Guide to Design Your Dream Life, by Sahil Bloom
Themes
“The Time Billionaire: A Concept That Changed My Life,” by Sahil Bloom, sahilbloom.com.
“The 2 Types of Status: Bought vs. Earned,” by Sahil Bloom, sahilbloom.com.
“The Incredible Power of No,” by Sahil Bloom, sahilbloom.com.
“The 4 Types of Professional Time,” by Sahil Bloom, sahilbloom.com.
“Parkinson’s Law, How to Read, and More,” by Sahil Bloom, sahilbloom.com.
“Sahil Bloom on Wealth, Success and Pursuing All-Time Highs in Money and Wealth,” by Tim Maurer, forbes.com, Feb. 2, 2025.
“The Life Dinner, Stonecutter Story, and More,” by Sahil Bloom, sahilbloom.com.
Other
Harvard Study of Adult Development
“Daniel Crosby: Can Money Really Buy Happiness?” The Long View podcast, Morningstar.com, Dec. 17, 2024.
Essentialism: The Disciplined Pursuit of Less, by Greg McKeown
Mindset: The New Psychology of Success, by Carol Dweck
4 February 2025, 5:00 pm - 48 minutes 6 secondsJohn Rekenthaler: ‘The House Is With You When You’re Investing’
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
“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.
Other
“Christine Benz and John Rekenthaler: How Much Can You Safely Spend in Retirement?” The Long View podcast, Morningstar.com, Dec. 21, 2021.
28 January 2025, 6:00 pm - 1 minute 3 secondsIntroducing The Morning Filter
Subscribe to The Morning Filter on Apple Podcasts, or wherever you stream podcasts. We’ll see you next Monday!
24 January 2025, 9:38 pm - 53 minutes 41 secondsHendrik du Toit: 'Small Things Can Make a Big Difference'
Our guest this week is Hendrik du Toit, CEO and co-founder of Ninety One Asset Management, which is dually listed in London and Johannesburg, South Africa, and was formerly known as Investec Asset Management, founded in 1991. In addition to running Ninety One, Hendrik is on the board of Naspers and its European subsidiary, Prosus, which is a cornerstone investor in China’s Tencent. He has served on the Leadership Council of the Sustainable Development Solutions Network, a United Nations initiative, and is a public figure in his native South Africa and in the United Kingdom. Hendrik holds degrees from Stellenbosch University and Cambridge. Hendrik, thanks so much for joining us on The Long View.
Background
Ninety One Global Strategy Fund – Global Environment Fund IX Acc GBP
Ninety One Global Sustainable Equity I Acc GBP
Ninety One Emerging Markets Local Currency Debt Fund A Accumulation USD
Ninety One GSF Emerging Markets Local Currency Debt C Acc USD
Sustainability and ESG
Ninety One’s Sustainability and Stewardship Report
“Ninety One Becomes First SA Asset Manager to Sign Onto Net Zero Asset Managers Initiative,” ebnet.co.za, July 26, 2022.
“Ninety One CEO Hendrik du Toit on Asset Management and Green Investing,” Bloomberg TV video interview, Bloomberg.com, Sept. 24, 2024.
Other
“New Draft Rules Targeting In-Game Spending Wipe Billions From China’s Tech Giants,” by Wayne Chang and Laura He, cnn.com, Dec. 22, 2023.
21 January 2025, 7:59 pm - 49 minutes 37 secondsDave Sekera: A Market Outlook for 2025 and Beyond
On the podcast this week, we welcome back Dave Sekera. Dave is the chief US market strategist for Morningstar Research Services. In his role, Dave publishes research and commentary on the state of the markets and economy and is a leading voice on Morningstar.com and our other platforms. Dave and Susan Dziubinski also do a weekly show for Morningstar.com called The Morning Filter. Before assuming his current role, Dave was a managing director for DBRS Morningstar. Prior to joining Morningstar in 2010, Dave worked in the alternative asset management field. He earned his bachelor’s degree in finance and decision sciences from Miami University and holds the Chartered Financial Analyst designation. You can follow him on X @Morningstar Markets. Dave, welcome back to The Long View.
Background
Market Outlook: Healthcare, Tariffs, AI, and Inflation
“2025 Market Outlook: Markets Are Priced to Perfection, but Will It Last?” by Dave Sekera, Morningstar.com, Jan. 10, 2025.
“Don’t Panic: It’s Not 2022 All Over Again,” by Dave Sekera, Morningstar.com, Aug. 5, 2024.
“Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued,” by Karen Andersen, Morningstar.com, Oct. 3, 2024.
“5 Stocks to Buy to Invest in AI With Less Risk,” The Morning Filter, Morningstar.com, Aug. 5, 2024.
“Fed Rate Cut Shows the Main Battle Against Inflation Has Been Won,” by Preston Caldwell, Morningstar.com, Sept. 18, 2024.
“We Expect GDP Growth to Weaken Until Fed’s Rate Cuts Kick In,” by Preston Caldwell, Morningstar.com, Oct. 3, 2024.
“US Stock Market Outlook: Tariffs Are 2025’s Wild Card,” by Dave Sekera, Morningstar.com, Dec. 2, 2024.
Other
“Dave Sekera: Taking the Market’s Temperature,” The Long View podcast, Morningstar.com, July 18, 2023.
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