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Susan Dziubinski: Hi, I m Susan Dziubinski with Morningstar. Morningstar recently published its global guide to strategic-beta products. To provide an update on the state of this part of the market is Ben Johnson. Ben is Morningstar s director of global exchange-traded fund research. Hi, Ben. Thanks for being here. Ben Johnson: Hi, Susan. Thanks for having me.
Dziubinski: Let s start out with the definition. How do we define strategic-beta funds?
Johnson: I think the easiest way to define it is if we pick that term apart and look at its two constituent words. So, strategic or strategy implies that there is a strategy here. It s an investment strategy that in some way deviates from whatever its starting point might have been, which is often a broad-based market-cap-weighted index. So, say, a Total U.S. Stock Index, say an Aggregate Bond Index, something of that sort.
Susan Dziubinski: I m Susan Dziubinski with Morningstar. Berkshire Hathaway is holding its virtual annual shareholders meeting on Saturday. Joining me today is Morningstar s Gregg Warren. He covers Berkshire Hathaway for us, and he wants to talk a little bit about some questions he d like to see answered this weekend. Thanks a lot for joining us today, Gregg.
Warren: Thanks for having me, Susan.
Dziubinski: What would be some of the key questions you would have for Warren Buffett and Charlie Munger regarding the impact of the COVID-19 pandemic on Berkshire Hathaway?
Warren: I think if we look back, last year s meeting was a bit unsettling for a lot of investors and shareholders, because there was the shock of the pandemic and the uncertainty created. I don t think Warren did himself any favors, because he really didn t have a lot of straight answers for what the potential impact was going to be. So, we ve had a chance to go through, we ve seen some of the reserves they ve put as
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Susan Dziubinski: Hi, I m Susan Dziubinski with Morningstar. With yields still low, retirees may be grappling with where to go in their portfolio for income, and they may also be grappling with when to go into their portfolio for income. Joining me today to talk a little bit about that last topic specifically is Christine Benz. Christine is Morningstar s Director of Personal Finance. Hi, Christine.
Christine Benz: Hi, Susan. Great to be here.
Dziubinski: So, we want to talk a little bit today about the timing of taking income from your portfolio. But before we do, let s talk a little bit about where to go in your portfolio or where retirees can go for income these days. We ve seen a little bit of an uptick in yields. What should retirees be looking at?