The Morningstar Mirage- The Wall Street Journal.
The Morningstar Mirage
No surprise here. If Morningstar’s aren’t predictive what good are they? And if Morningstar can’t predict relative future performance what hope is there for retail investors or institutional fiduciaries with far less data and expertise.
https://www.wsj.com/articles/the-morningstar-mirage-1508946687