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Does Morningstar (MORN) Provide Good Value Growth?

Bonhoeffer Capital Management, an asset management company, released its third-quarter 2023 investor letter. A copy of the same can be downloaded here. In industries experiencing economic downturns, Bonhoeffer Fund has replaced slower-growing companies with superior, expanding corporations and is still seeking out comparable prospects. The United States, South Korea, the United Kingdom, Canada, South Africa, and the Philippines were the countries to which the firm had the greatest exposure as of September 30, 2023. Consumer products, telecom/media, real estate/infrastructure, and distribution were the industries with the biggest exposures. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Bonhoeffer Capital Management highlighted stocks like Morningstar, Inc. (NASDAQ:MORN) in the third quarter 2023 investor letter. Headquartered in Chicago, Illinois, Morningstar, Inc. (NASDAQ:MORN) provides investment research services. On January 2, 2024, Morningstar, Inc. (NASDAQ:MORN) stock closed at $277.60 per share. One-month return of Morningstar, Inc. (NASDAQ:MORN) was -0.05%, and its shares gained 26.09% of their value over the last 52 weeks. Morningstar, Inc. (NASDAQ:MORN) has a market capitalization of $11.853 billion.

In its Q3 2023 investor letter, Bonhoeffer Capital Management stated the following regarding Morningstar, Inc. (NASDAQ:MORN):

"In memory of Charlie Munger's death, one of his ideas that always struck me the most was to look at value growth, in addition to current valuation, in determining interesting stock opportunities. Value growth has generated much higher returns than changes in valuation over time. This is in part due to value growth being recurring in nature, whereas valuation changes are one-time events. One way to look at this is to use Morningstar, Inc. (NASDAQ:MORN) to examine how fair value estimates have changed over time versus changes to discounts from fair value for a given firm."

An investor looking over a complex portfolio of stocks and bonds while consulting a financial advisor.

Morningstar, Inc. (NASDAQ:MORN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held Morningstar, Inc. (NASDAQ:MORN) at the end of third quarter which was 22 in the previous quarter.

We discussed Morningstar, Inc. (NASDAQ:MORN) in another article and shared Polen Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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