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"We are not bound by any style box," Mr. Hershey said.
He said that this had been part of the reason that Morningstar had adopted its familiar style box — where value, blend and growth intersect with large-, mid- and small-capitalization portfolios.
I base my forecast on a new study that, if it becomes as widely accepted as I believe it will be, may persuade Morningstar to add a third dimension to its famous "style box," transforming it into a "style cube".
Moreover, this performance difference could not be shown in Morningstar's existing style box; it held up regardless of whether a stock was small or large cap, growth or value.
The project is arguably the most visible and prestigious architectural commission in the world right now... Philip Goodwin and Edward Durell Stone's International Style box broke through a line of staid brownstones like a chorus girl crashing through one of those paper hoops... Architecture, once the embodiment of the Modern's artistic mission, has become a reminder of its complacent middle age.
Mr. Buffett also mocked fund consultants who "like to require style boxes" -- or investment categories -- "such as 'long-short,'macroro,'internationalal equities.' At Berkshire our only style box is 'smart".' Mr. Buffett addressed one of Berkshire's most closely watched holdings on Wall Street, the $5 billion investment in Goldman Sachs made during the depths of the financial crisis.
Similar(35)
But Nikolai kept his shape, his style, boxing from long distance.
Style boxes have the same fallacy.
Style boxes prevent managers from playing proper defense and offense.
But to Morgenthau, 47, old-fashioned ROE is a better investment tool than betas, style boxes or any of the mumbo jumbo that fellow managers throw around.
Those rigid morningstar style boxes don't do justice to a merry band of iconoclastic fund managers who hunt stocks in every corner of the forest.
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