Joe Mansueto Quotations

My philosophy is that small is beautiful. Instead of having one $70 million company, we will have smaller units that will operate as separate businesses. These changes will allow Morningstar to be more nimble in responding to the needs of investors.

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 on the benefit side.

Since Morningstar was founded in 1984, our mission has been to serve as an advocate for the individual investor. We have been successful in executing our strategy, but we must refocus our efforts to capitalize on the opportunities in the marketplace.

Obviously we're pleased with the SEC's decision and are happy to put this matter behind us.

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 me.

Once you create a loyal customer base, it's tough for a competitor to take that away.

I thought a company that provides mutual-fund information could be a great business, because you could construct an effective moat by building large financial databases and customer lists and a strong brand name.

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 you can be yourself and follow your passion.

I found an approach to investing that made enormous sense to me: rigorously analyzing a company's fundamentals, understanding exactly how it makes money, developing a view on the business's future prospects, and deciding if it's a good business.

I'm trying to set a good example. I don't need to take a high salary, which would impede the success of Morningstar.