The annual Morningstar Conference opened June 28th in Chicago with a record number of attendees primed to hear about strategies for investing in funds, stocks and other asset classes over the three-day event. Morningstar’s Don Phillips introduced the keynote speaker, Michael Mauboussin, chief investment strategist at Legg Mason Capital Management.
Managing Director Don Phillips opened the firm’s annual investment conference with a vignette about Legg Mason: when he traveled around during Morningstar’s road show before the company went public, he says they visited a lot of investment companies and they all asked the same sort of questions about earnings and projected growth of the business but when they got to Legg Mason, Phillips says, the questions were completely different: What have you been reading lately, have you heard any interesting new investment ideas? Legg Mason’s point of view, Phillips said, was totally unlike that of the other firms’. Legg Mason Capital Management is pulling a lot of interesting talent together, Phillips noted as he introduced “one of the stars” at Legg Mason, the firm’s Chief Investment Strategist, Michael Mauboussin.