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Morningstar is really good with rear view mirrors re evaluating a Fund manager or the team. I use them everyday for that data.

The problem in today's world is Morningstar looks at what happened a month ago up to 5 to 10 yearss. Most of that data is irrelevant in today's world if it is over a year old. What is more important that the old history is, how is a fund doing lately back to a year compared to other funds in its category. If it is not beating the other funds in that category for specific periods going back to a year, it is probably not a good investment even if it has the MS 5 star rating.

Having said that, Morningstar has been on top this scandal, and has been on our side since day 1.