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Morningstar, Inc.
Type Public (NASDAQ: MORN)
Genre Financial Services
Founded Chicago (1984)
Founder Joe Mansueto
Headquarters Chicago, IL, United States
Industry Financial Services
Products www.morningstar.com
Revenue ▲ US$435. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The NASDAQ (acronym of National Association of Securities Dealers Automated Quotations) is an American Stock exchange. A genre (ˈʒɑːnrə also /ˈdʒɑːnrə/ from French "kind" or "sort" from Latin: genus (stem gener-) is a loose set Financial services refer to services provided by the finance industry. Chicago (ʃɪˈkɑːgoʊ is the largest City by population in the state of Illinois and the American Midwest of the United States. Year 1984 ( MCMLXXXIV) was a Leap year starting on Sunday (link displays the 1984 Gregorian calendar) An entrepreneur is a person who has possession over a company enterprise, or Venture, and assumes significant accountability for the inherent risks and the outcome Joseph D Mansueto (born 1956 is the founder and CEO of Morningstar Inc Chicago (ʃɪˈkɑːgoʊ is the largest City by population in the state of Illinois and the American Midwest of the United States. The State of Illinois ( roughly ill-i-NOY is a state of the United States of America, the 21st to be admitted to the Union. The United States of America —commonly referred to as the For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" Financial services refer to services provided by the finance industry. In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been 1 million (2007) [1]
Operating income ▲ US$117. In financial and business Accounting, earnings before interest and taxes (EBIT is a measure of a firm's profitability that excludes interest and income tax expenses 3 million (2007)[1]
Net income ▲ US$73. Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. 9 million (2007)[1]
Employees approx. Employment is a Contract between two parties, one being the employer and the other being the employee. 1,440 (2006)[2]
Website corporate.morningstar.com

Morningstar, Inc. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages (NASDAQ: MORN) is an independent investment research company based in Chicago, Illinois, USA. The NASDAQ (acronym of National Association of Securities Dealers Automated Quotations) is an American Stock exchange. Chicago (ʃɪˈkɑːgoʊ is the largest City by population in the state of Illinois and the American Midwest of the United States. The State of Illinois ( roughly ill-i-NOY is a state of the United States of America, the 21st to be admitted to the Union. The United States of America —commonly referred to as the

Contents

Businesses

The company offers Internet-, software-, and print-based products and services for individuals, financial advisors, and institutional clients. Morningstar provides data on more than 125,000 investment offerings, including stocks, mutual funds, and ETFs. Software for Fixed assets management and Stock control developed in 2004. A mutual fund is a professionally managed type of collective investments that pools money from many investors and Invests it in Stocks bonds, An exchange-traded fund (or ETF) is an investment vehicle traded on Stock exchanges much like Stocks. The company has operations in 16 countries.

Morningstar created its Morningstar Rating rating service, Morningstar Style Box and other proprietary measures in order to help individual investors understand their investments. Morningstar provides free tools to individual investors on each of its regional websites.

Morningstar representative Don Phillips also figured prominently in the 2004 Senate hearings on how to correct some actions performed by many investment companies, brokerage companies, and ultimately mutual fund companies with respect to market-timing arbitrage. In Economics and Finance, arbitrage is the practice of taking advantage of a price differential between two or more Markets striking a combination of matching

History

Founder Joe Mansueto initially had the idea for Morningstar in 1982 while reviewing mutual fund annual reports he had requested from several prominent fund managers[3]. Joseph D Mansueto (born 1956 is the founder and CEO of Morningstar Inc Year 1982 ( MCMLXXXII) was a Common year starting on Friday (link displays the 1982 Gregorian calendar) A mutual fund is a professionally managed type of collective investments that pools money from many investors and Invests it in Stocks bonds, However, it was only after a year working as a stock analyst for Harris Associates, seeing the fund industry and potential competitors up close, that he was convinced that the opportunity was there[3][4]. Morningstar was subsequently founded in 1984 from his one-bedroom Chicago apartment with an initial investment of US$80,000[5]. Year 1984 ( MCMLXXXIV) was a Leap year starting on Sunday (link displays the 1984 Gregorian calendar) The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been The name Morningstar is taken from the last sentence in Walden, a book by Henry David Thoreau; "the sun is but a morning star"[5][6].

In July 1999 Morningstar accepted an investment of US$91 million from SoftBank in return for a 20% stake in the company. Events in July The traditional period known as "fence month" (the closed season for deer in England ended July 9 (date varied Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) is a Japanese telecommunications and media Corporation, with operations in Broadband, fixed-line Telecommunications, E-Commerce, Internet The two companies had the previous year formed a joint venture in Japan [7][6].

Morningstar's initial public offering occurred on May 3, 2005, with 7,612,500 shares at $18. Initial public offering (IPO, also referred to simply as a "public offering" is when a company issues Common stock or shares to the public for the first Events 1491 - Kongo monarch Nkuwu Nzinga is baptised by Portuguese missionaries adopting the baptismal name of João Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. 50 each[8]. The manner in which Morningstar went public is notable. They elected to follow Google's footsteps and use the dutch auction method rather than the traditional method. Google Inc is an American public corporation, earning revenue from advertising related to its Internet search, e-mail, online A Dutch auction is a type of Auction where the auctioneer begins with a high Asking price which is lowered until some participant is willing to accept the auctioneer's This allowed individual investors to bid on the price of the stock, and allowed all investors equal access.

As of March 2007 Joe Mansueto owned approximately 70% of the outstanding shares in Morningstar. [9]

Corporate identity

Morningstar's current logo is notable in that it was designed by legendary graphic designer Paul Rand. Paul Rand (born Peretz Rosenbaum, August 15 1914 &ndash November 26 1996 was an American Graphic designer best known for his corporate logo designs Mansueto sought Rand out in 1989 after deciding that the company's design standards needed to be improved, and that the first step would be a redesign of their logo[10]. Year 1989 ( MCMLXXXIX) was a Common year starting on Sunday (link displays 1989 Gregorian calendar) After several phone calls, letters and finally a trip to meet Rand in person, Mansueto convinced him to work on the logo, which was completed within four months[10]. The new design features the "o" in Morningstar appearing as a rising sun, which is a nod to the quote that inspired the company's name[5]. While the fee for this work ($50,000) was a significant amount at the time for the company, Mansueto considers it "one of our most valuable assets"[10].

Acquisitions

Since 2003 Morningstar has undertaken several acquisitions which have expanded the breadth and depth of its product offerings.

Asset Acquired Acquired From Date Announced Date Completed Reported Cost
mPower. com, Inc Privately Held May 30, 2003[11] July 2, 2003[12] Not Disclosed
ePiper Separate Account Database Pensions & Investments September 7, 2004[13] Not Disclosed Not Disclosed
VARDS Finetre Corporation January 11, 2005[14] January 4, 2005[14] US$9 million
Ibbotson Associates Privately Held December 12, 2005[15] March 1, 2006[16] US$83 million
Aspect Huntley Unknown July 2, 2006[17] July 25, 2006[18] AU$30 million
Institutional Hedge Fund & Separate Account Database Division InvestorForce, Inc. The term privately held company refers to ownership of a business company in two different ways first referring to ownership by non-governmental organizations and second Events 1416 - The Council of Constance, called by the Emperor Sigismund a supporter of Antipope John XXIII burns Jerome of Prague following Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. Events 310 - Pope Miltiades is elected 626 - In fear of assassination Li Shimin ambushes and kills his rival Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. Crain Communications Inc is a major publishing conglomerate based in Detroit Michigan. Events 1251 BC - A Solar eclipse on this date might mark the birth of legendary Heracles at Thebes Greece. "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " Events 1055 - Theodora is crowned Empress of the Byzantine Empire. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Events 46 BC - Titus Labienus defeats Julius Caesar in the Battle of Ruspina. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Roger G Ibbotson is professor of finance at Yale School of Management and is an expert on capital market returns Cost of capital, and international investment Events 627 - Battle of Nineveh: A Byzantine army under Emperor Heraclius defeats Emperor Khosrau II 's Persian Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Events 86 BC - Lucius Cornelius Sulla, at the head of a Roman Republic army enters in Athens, removing the Tyrant Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 310 - Pope Miltiades is elected 626 - In fear of assassination Li Shimin ambushes and kills his rival Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 285 - Diocletian appoints Maximian as Caesar, co-ruler Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. The Australian dollar ( sign: $; code: AUD) is the Currency of the Commonwealth of Australia, including Christmas July 17, 2006[19] August 1, 2006[20] US$10 million
Fund Data Business (prev. Events 180 - Twelve inhabitants of Scillium in North Africa are executed for being Christians Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 30 BC - Octavian (later known as Augustus enters Alexandria, Egypt, bringing it under the control of the Roman Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Micropal & Assirt) Standard & Poor's February 22, 2007[21]

[22]

 March 16, 2007[23]

[24]

 US$55 million
Hemscott data, media & investor relations businesses Ipreo Holdings LLC December 17, 2007[25] January 9, 2008[26] US$51. Micropal Group Limited, also just known as "Micropal", was a global financial services company specialising in the collection and analysis of Mutual fund Standard & Poor's ( S&P) is a division of McGraw-Hill that publishes financial research and analysison Stocks and bonds. Events 1495 - King Charles VIII of France enters Naples to claim the city's throne Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 597 BC - Babylonians capture Jerusalem, replace Jehoiachin with Zedekiah as king Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 546 - Gothic War (535–554: The Ostrogoths of King Totila Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 475 - Byzantine Emperor Zeno is forced to flee his capital at Constantinople. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common 6 million

See also

External links

References

  1. ^ a b c Morningstar, Inc. Reports Fourth-Quarter, Full-Year 2007 Financial Results. Standard & Poor's ( S&P) is a division of McGraw-Hill that publishes financial research and analysison Stocks and bonds. Moody's Corporation ( is the holding company for Moody's Investors Service which performs financial research and analysis on commercial and government entities Fitch Ratings Ltd is an international Credit rating agency dual-headquartered in New York City and London. A M Best Company Inc, headquartered in Oldwick New Jersey, is Rating agency designated as an Nationally Recognized Statistical Rating Organization DBRS is a credit rating agency headquartered in Toronto, Ontario. A Nationally Recognized Statistical Rating Organization (or "NRSRO" is a Credit rating agency which issues credit ratings that the U This article is primarily about Reuters prior to its 2008 merger with Thomson Bloomberg LP is a financial software services news and data company Retrieved on February 24, 2008. Events 303 - Galerius, Roman Emperor, publishes his edict that begins the persecution of Christians in his portion of the 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common
  2. ^ Morningstar 2006 Annual Report. Retrieved on February 24, 2008. Events 303 - Galerius, Roman Emperor, publishes his edict that begins the persecution of Christians in his portion of the 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common
  3. ^ a b Everything I Know, I Learned from Warren Buffett, Corporate Culture Article - Inc. Article. Retrieved on May 3, 2007. Events 1491 - Kongo monarch Nkuwu Nzinga is baptised by Portuguese missionaries adopting the baptismal name of João Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  4. ^ Joe Mansueto and Bill Nygren: The Importance of Having Conviction. Retrieved on May 3, 2007. Events 1491 - Kongo monarch Nkuwu Nzinga is baptised by Portuguese missionaries adopting the baptismal name of João Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  5. ^ a b c USATODAY.com - Can he turn magazine bust into a boom?. Retrieved on May 3, 2007. Events 1491 - Kongo monarch Nkuwu Nzinga is baptised by Portuguese missionaries adopting the baptismal name of João Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  6. ^ a b A star is reborn after shake-up. Retrieved on May 21, 2007. Events 878 - Syracuse Italy is captured by the Muslim sultan of Sicily. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  7. ^ Company News; Softbank says it will invest $91 million in Morningstar. Retrieved on May 3, 2007. Events 1491 - Kongo monarch Nkuwu Nzinga is baptised by Portuguese missionaries adopting the baptismal name of João Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  8. ^ Morningstar Press Release. Retrieved on May 3, 2007. Events 1491 - Kongo monarch Nkuwu Nzinga is baptised by Portuguese missionaries adopting the baptismal name of João Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  9. ^ Morningstar Investor Q&A - March 2007. Retrieved on May 3, 2007. Events 1491 - Kongo monarch Nkuwu Nzinga is baptised by Portuguese missionaries adopting the baptismal name of João Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  10. ^ a b c Corporate Design Foundation - @issue journal. Retrieved on May 21, 2007. Events 878 - Syracuse Italy is captured by the Muslim sultan of Sicily. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  11. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  12. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  13. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  14. ^ a b Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  15. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  16. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  17. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  18. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  19. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  20. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  21. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  22. ^ Standard & Poor's Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  23. ^ Morningstar Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  24. ^ Standard & Poor's Press Release. Retrieved on April 21, 2007. Events 753 BC - Romulus and Remus found Rome ( traditional date) Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  25. ^ Morningstar Press Release. Retrieved on February 24, 2008. Events 303 - Galerius, Roman Emperor, publishes his edict that begins the persecution of Christians in his portion of the 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common
  26. ^ Morningstar Press Release. Retrieved on February 24, 2008. Events 303 - Galerius, Roman Emperor, publishes his edict that begins the persecution of Christians in his portion of the 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common
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