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The Long View

The Long View

Written by: Morningstar
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 Empowering long-term investors with actionable insights on retirement, personal finance, and portfolio strategy. Hosts Christine Benz, Amy Arnott, and Ben Johnson talk with influential leaders in finance and investing every Wednesday.2025 Morningstar, Inc. Careers Economics Leadership Management & Leadership Personal Finance Personal Success
Episodes
  • Ben Carlson: Exploring Risk and Reward

    Ben Carlson: Exploring Risk and Reward
    May 12 2026
    Listen Now: Listen and subscribe to Morningstar’s The Long View from your mobile device: Apple Podcasts | Spotify Today on the podcast, we welcome back Ben Carlson, who’s the author of a new book called Risk and Reward. Ben is the director of institutional asset management for Ritholtz Wealth Management. In addition, Ben’s a prolific creator of content. His blog is called A Wealth of Common Sense. He also co-hosts the podcast Animal Spirits with Michael Batnick. Ben is the author of four books about investing and money, and he’s a CFA charterholder. Episode Highlights 00:00:00 Understanding Market History Is About Preparation, Not Prediction00:02:00 Lessons From Japan’s Asset Bubble and Mean Reversion00:06:54 The Different Ways Investors Respond to Crashes00:08:36 The Automatic Investing Revolution Has Changed Behavior00:15:22 Why Patience Is Harder to Come By in an On‑Demand World00:19:32 The Importance of Education in Private Asset Investing00:21:35 Inflation Psychology and How to Respond00:28:15 Two Different Kinds of Bear Markets00:35:40 Using Alpha to Deliver Better Aftertax Outcomes for Clients More From Ben Carlson Everything You Need To Know About Saving For Retirement Don’t Fall For It: A Short History of Financial Scams Invest Your Way to Financial Freedom Risk and Reward More From Morningstar Ben Carlson: How Not to Get Scammed What We’ve Learned From 150 Years of Stock Market Crashes The 60/40 Portfolio: A 150-Year Markets Stress Test If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com. Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances. If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    49 mins
  • Amit Wadhwaney: ’Buying Cheap Has a Number of Attractions’

    Amit Wadhwaney: ’Buying Cheap Has a Number of Attractions’
    May 5 2026

    Today’s guest on The Long View is Amit Wadhwaney, portfolio manager and co-founder at Moerus Capital Management. Amit has over 30 years of experience researching and analyzing investment opportunities in developed, emerging, and frontier markets worldwide. Prior to co-founding Moerus, Amit was a portfolio manager and partner at Third Avenue Management, where he worked alongside his Moerus co-founding partners. Amit founded the international business at Third Avenue and was the founding manager of the Third Avenue Global Value Fund, the Third Avenue Emerging Markets Fund, and the Third Avenue International Value Fund. Earlier in his career, Amit worked at MJ Whitman LLC, a New York-based broker/dealer. Prior to joining M.J. Whitman, Amit was a paper and forest products analyst at Bunting Warburg, a Canadian brokerage firm. He began his career at Domtar, a Canadian forest products company. Amit holds an MBA in finance from the University of Chicago. He also holds a BA with honors and an MA in economics from Concordia.

    Episode Highlights
    • Investing Versus the Business of Investing
    • Why Macroeconomic Forecasting Often Fails Investors
    • Survivability as the Core of Risk Management
    • Why “Trouble” Creates Opportunity for Value Investors
    • Exploring Value-Accretive Corporate Activity
    • Is Today’s Market Setting Up a Value Comeback?
    More From Morningstar

    How the Iran War Is Shaping Markets

    3 Well-Regarded Large-Value Funds for Investors Seeking Balanced Portfolios

    The Value Stock Comeback Is Messy. Here’s Why Investors Shouldn’t Turn Away

    If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com.

    Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

    If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.


    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    55 mins
  • Claudia Sahm: Thinking Through Scenarios in a Whiplash Economy

    Claudia Sahm: Thinking Through Scenarios in a Whiplash Economy
    Apr 28 2026
    Our guest on the podcast today is Claudia Sahm. Claudia is chief economist at New Century Advisors, the founder of Sahm Consulting, and a regular contributor at Bloomberg Opinion. She has policy and research expertise in macroeconomics, consumer spending, and household finance. She created the Sahm rule, an automatic trigger for stimulus payments in recessions. Previously, she was a section chief at the Federal Reserve, where she oversaw the Survey of Household Economics and Decisionmaking. Before that, she worked for 10 years on the staff’s macroeconomic forecast. She was a senior economist at the Council of Economic Advisers. She holds a Ph.D. in economics from the University of Michigan and a bachelor’s degree in economics, political science, and German from Denison University. Episode Highlights 00:00:00 Lessons From the Fed During the Global Financial Crisis 00:04:56 Making Sense of Fed-Speak 00:09:29 The “Whiplash Economy” and Understanding Risk 00:14:21 Rising Gas Prices, Geopolitical Uncertainty, and Consumer Sentiment 00:18:03 Interest Rates, AI, and Fed Leadership Changes 00:29:48 Undoing the Effects of Trump’s Tariffs 00:33:34 The Sahm Rule and Recession Risk Today 00:43:56 Costs of Underfunding US Economic Data 00:49:57 “Economics Is a Disgrace” More From Morningstar Risk, Not Volatility, Is the Real Enemy for Investors Michael Gates: Why More Advisors Are Migrating to Model Portfolios Q2 Market Outlook: Why a Stock Barbell Strategy Is Ideal for Today’s Market If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com. Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances. If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    59 mins
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