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Once you create a loyal customer base, it's tough for a competitor to take that away.
To me, money is independence. It gives you freedom to do what you really want to do. It allows you to not be dependent on anyone or anything, and so... →
I'm trying to set a good example. I don't need to take a high salary, which would impede the success of Morningstar.
I found an approach to investing that made enormous sense to me: rigorously analyzing a company's fundamentals, understanding exactly how it... →
As I get older, I increasingly value free time that's completely free of appointments. Time to think, time to reflect, time to just hang out with... →
Every August, I go away for four weeks to a place in Michigan. I work in the mornings, spend the month in shorts and flip-flops. It gives me time to... →
I thought a company that provides mutual-fund information could be a great business, because you could construct an effective moat by building large... →
I spent the bulk of my career on building my company, and Morningstar is where the passion is.
I was a slightly geeky kid.
I'm not an overly material person. Sure, I like certain comforts in life. But buying a lot of 'things' doesn't produce happiness for... →
No one can tell you what to do or push you around. It gives you a secure feeling. That's the best thing about money.
Publishing had been successful where there had been natural geographic monopolies.
I want a desirable place to work to attract and keep them here. So you try to create an environment for people to do their best work, and be generous... →