Are your patrons using the print version of Morningstar in the Library?

We recently were notified that Morningstar has decided to retire the print version of Morningstar Mutual Funds on December 24th but your users can still access Morningstar Mutual funds in Morningstar Investment Research Center online using the Virtual Library. We do have limited licenses to the product, so if you cannot get in, wait 15-30 minutes and chances are a license will free up so you can get use it. I will be monitoring the turn-a-ways and if it’s happening too often we will add additional licenses.

If you have never used Morningstar Investment Research Center  checkout the Help & Education tab. Here you will find how-to guides to print and monthly online workshops on how-to use Morningstar Investment Research Center .

Be sure to point these out to your patrons and I highly recommend you review the User’s Guide.

Morningstar – ETF Analysis, Portfolio X-Ray Tool, and Closed-End Fund Updates

What’s New

There are many new and exciting changes coming to Morningstar Investment Research Center this month!

• First, you will notice recently improved pages for viewing exchange-traded funds (ETFs). Overall, you will see that the pages include larger, easier-to-read fonts and graphs with additional data points and a more user-friendly interface. The new ETF Quote pages provide a comprehensive overview of the ETF you are viewing, complete with interactive graphs, important price data, style map, sector information, and several other highlights. Just like our stock and fund pages, there is now a Chart tab where users can compare one ETF to another fund or benchmark. And similar to the mutual funds, you can find related fund family data by clicking the link at the top right of each page.

• They have also updated the Portfolio X-Ray Tool to help investors better understand the types of sectors they are invested in. Now, in the Stock Sector section of the tool, users will see industry sectors, such as health care and technology, divided into three new categories: cyclical, sensitive, and defensive. These three divisions indicate how sensitive the industries are to macroeconomic factors. Investors can clearly see how their portfolio is divided amongst these three broader categories and the 11 industry sectors.

• Starting in mid-August, you will notice a new area on the Morningstar Investment Research Center. For the first time, they are offering detailed data on closed-end funds (CEFs). The CEF pages have the same look and feel as the other fund analyses, while allowing investors to learn about a whole new segment of funds. To learn more about CEFs, check out the CEF summary in the Glossary and Methodologies section of the Help & Education tab.

Hamilton East Public Library Helps Those Still Struggling With Their Employment Search

Marketing for Libraries

The United States has seen an uplift in unemployment news in recent months. With the national unemployment rate falling under 9% for the first time in nearly two years and the number of those filing for unemployment benefits continuing a slow downward trend, many Americans are finally returning to work. However, the discouraged workers from 2008 and 2009 remain pessimistic with their latest unsuccessful job searches.

This is where the staff at Hamilton East Public Library of Noblesville, Ind., steps in. Department head Linda Shaw explains the various services that the library has to offer its job-seeking patrons. First and foremost, the staff starts with an educational base. The library’s Outreach Department offers classes on basic computer skills, Microsoft applications, and job searching on the Internet. Hamilton East is also partnering with Work One, an Indiana program that helps citizens assess their skills and find a job to match them.

Going beyond basic education, the Hamilton East staff offers a plethora of online resources. Job listings (state, federal, and national), resume and cover letter advice, relocation information, salary statistics, and interviewing tips are available to the public through the library website.

Another surprising yet valuable source for patrons seeking employment opportunities is the Morningstar Stock Screener. The Stock Screener (on the Home page under Companies) allows patrons to identify their criteria concerning geographic location, specific industry, size of company, and financial stability of the company. This permits library members to narrow down prospective employers and begin evaluating potential company profiles.

According to Shaw, feedback from job-hunters has been overwhelmingly positive. Despite recent employment statistics indicating a slowly improving labor market, the staff members at Hamilton East Public Library remain dedicated to easing the stress of job-seekers by simplifying their search and improving their computer-based literacy.

Price Check Time-Saver

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The Training Corner | by Lars Wasvick, Associate Product Manager at Morningstar

Has anyone asked for prices on a number of different stocks? What if a patron wants the loss or gain from the previous day on multiple mutual funds? It’s actually quite easy to find this information on Morningstar Investment Research Center.

Here’s one way to tackle it. Let’s say you have a portfolio with five stocks in it. You see the market is having a nice day and want to check out how your stocks are doing. Simply go to Morningstar Investment Research Center’s search box, type in the first ticker symbol, and hit “get report.” Write down the price and continue on by entering the second ticker in the search box and hit “enter.” Write down that price, and so on. Finally you have a comprehensive list of today’s performance for the stocks in your portfolio.

Here is an even easier way to get the data you’re seeking. Rather than repeat everything five times, just use a few commas. Let’s say the portfolio consists of McDonalds MCD, Home Depot HD, Microsoft MSFT, Colgate-Palmolive CL, and Macy’s M. Go into the search box and type MCD, HD, MSFT, CL, M (you can even do it in lowercase) and hit “get report.”

The new page you see has the price, gain/loss, day high/low, volume, and the 52-week high/low for all of the stocks in your portfolio. You’ll find this is much faster, and it gives you a complete list. This will also work with mutual funds, even if you combine the search with stocks. Of course, fund prices, or net asset values, are calculated at the end of each trading day, so the day high/low will be the same and volume will be zero.

Another suggestion if you have many stocks, funds, or both and want to save on typing tickers: Save the string of tickers separated by commas in a word processing, text, or spreadsheet file. The next time you want to get your quote report, just cut and paste the string into the search box.

For more helpful tips on the new features to Morningstar Investment Research Center, or for an overview on the database, please join us for training on Feb. 3 at 11a.m. Central Time. Visit the Client Site http://library.morningstar.com/tracking to attend, or e-mail librarytraining@morningstar.com for further details.

Company Bond Data

Morningstar adds Company Bond Data – Now in addition to stock information, on each company’s data page you will find a “Bonds” tab on the left-side navigation bar.  Click to get credit ratings, capital structures, yields, and more.

Providing Investment Knowledge Without Influencing Investing Decisions

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The Training Corner | by Lars Wasvick, Associate Product Manager

One concern some clients have when training patrons is accidentally giving patrons investing advice. I’ve had this issue come up a few times during training sessions. For example, when looking at a stock report a patron will often ask the librarian, “Do you recommend that stock?”

I know what that feels like; I get asked the same question when I conduct training. It’s those types of loaded questions that make me nervous because if I say yes, or no, I could be influencing an investment decision. So, here are five tips to get patrons more involved in the training and prevent you from giving investment advice.

1. Ask patrons what stocks and funds interest them. There are companies all around us, and nearly everyone has some sort of mutual fund in a retirement plan. Patrons are often embarrassed if they have little investing knowledge or don’t keep up on their investments. Let them participate in the session. It will make it more interesting for them.

2. Let Morningstar do the work. On the homepage of our database we have a link to Morningstar Stock and Fund Recommendations. Show patrons how easy it is to find the lists and analyst reports. If you ever get a question about what to invest in or whether you recommend a particular stock or mutual fund, tell them to ask Morningstar. We’ve already done the work and we have an honest and objective opinion.

3. Plan ahead. One thing I always do before demonstrating our screeners is create a plan. For example, on a stock screen I will jot down the criterion to give me a screen with an adequate amount of results. It takes only a few minutes and it ensures that you won’t be left with scarce list that prompts questions you may not have answers to.

4. Look to current events. When showing a stock report, a good way to make an unbiased choice is by picking out a company in the news. For example, during the spring and summer of 2010, BP was involved in a massive oil spill. This was front page news, which makes for a perfect company to look at during a training session. Using topical examples allows patrons to see the relationship between news and stock price.

5. Rely on the features. Sometimes when you ask for participation, you get an obscure answer. For instance, in one training session I asked patrons for a stock to look up. A gentleman suggested American Tower Corporation. It’s slightly embarrassing to admit that I have never heard of that company. Rather than fumble around for the ticker symbol, I simply typed the name in the lookup box and I was able to locate the snapshot very easily. I highly recommend using our tools to make your job easier. Consider the Benchmarks on our screening tool, Data Analysis tab on a stock or fund page, and the Portfolio X-Ray Interpreter view.

For more helpful tips on the new features to Morningstar Investment Research Center, or for an overview on the database, please join us for training on Dec. 2, 2010, at 11:00 a.m. CST. Visit the Client Site http://library.morningstar.com/tracking to attend, or email librarytraining@morningstar.com for further details.

Morningstar Can Help You with Investment Program

The Training Corner | by Lars Wasvick, Associate Product Manager

Using Scenarios

At Morningstar we want to provide you with the training resources you need so you can educate your colleagues and patrons on how to use our database. We are happy to work with you in creating training materials, as many clients have done so with us on PowerPoint presentations.

Another interesting idea to help create interest in learning about the database and navigating its practical applications is scenario training. For example, if Joe the patron was to ask you what EBITDA means, where could you find the definition, or rather, where would you tell him to look?

The correct answer is to visit the Glossary on the Help & Education page, which seems logical, but might not be as easy to find without some basic navigation training on the database. Since we provide many training sessions throughout the year, we have come across popular questions and situations in which people are looking for certain information.

If you find yourself looking for an effective way to train library staff and patrons and think scenarios may help, give it a try with some basic situations, or if you need ideas, feel free to contact us for some frequently asked questions and common scenarios.

For more helpful tips on the new features to Morningstar Investment Research Center, or for an overview on the database, please join us for training on Nov. 4, 2010, at 11 a.m. Central Time. Visit the Client Site http://library.morningstar.com/tracking to attend, or email librarytraining@morningstar.com for further details.

Morningstar Online Presentation

The presentation, “How to Rebalance Your Portfolio,” was a very informative session and is perfect for anyone making investment decisions in 2010.

Morningstar is making the presentation available to everyone who could not attend or who would like to review it again. You’ll find the presentation on Morningstar under  the Help & Education page. The session runs about 45 minutes and has audio and a slide show.

Money Smart U

Fond du Lac Public Library Presents Morningstar Investment Research Center for “Money Smart U” Program

Thanks to a grant provided by the Financial Industry Regulatory Authority (FINRA) and American Library Association (ALA), the Fond du Lac Library has been able to launch a variety of investment-related programs and maintain a website, “Money Smart Neighborhood,” completely dedicated to investing and financial resources. Each week the library holds a program focused on a particular aspect of finance or investing. One such program, “Financial Resources at the Fond du Lac Public Library,” featured the various online resources accessible to patrons, including Morningstar Investment Research Center.

During the session, library members focused on teaching their patrons about how to track stocks and improve their portfolios through Internet-based databases. As Reference Librarian Lori Burgess states, “This 90-minute presentation highlights our subscription databases that are free to our patrons who have a valid library card. This is a hands-on class where participants are able to access each database while the instructor is talking.” For example, Burgess taught the patrons how to do a stock screener and then allowed them to try one on their own. If anyone had any questions or problems, they were free to ask for help from the instructors.

When asked about the feedback for the Morningstar Investment Research Center database, Burgess states, “As one of the instructors of the investing presentation, Morningstar seems to be the most user-friendly. The two-minute tutorials are great!” With the two-minute tutorials on the stock screener, fund screener, and portfolio x-ray tool, patrons learn the features available through each of these easy to follow instructions. Patrons can gain access to these tutorials anytime, rather in the library or in their own home.

“We had 20 participants for our January class, and we only have 12 computers in our lab! Several students had to double up on computers.” With a successful turnout for this session, the Fond du Lac Public Library hopes to have even more patrons on hand when they hold their next session in February.

If you would like further marketing ideas or material to help promote Morningstar Investment Research Center at your library–or for materials you can use on your own staff training site–contact us at libraryservices@morningstar.com.

Standard and Poors – Discontinued

The Library District has discontinued Standard and Poors.  We will continue to offer Morningstar with only 5 users at a time licensing.

Morningstar offers Patron Training

Christine Benz, Director of Personal Finance at Morningstar, will present “Rebalance Your Portfolio for 2010 in Just 30 Minutes.”  The webinar will take place on December 16th, at 1pm Pacific Time.  Attached is a poster – Morningstar Webinar with more information.  Feel free to use it to promote the session within your library.  Attendees can register by sending an e-mail with your library’s name to librarytraining@morningstar.com.  Please let me know if you have questions or need anything else.

MorningStar Patron Online Training

On September 30, Morningstar will host another online patron training class.  Attached is a PDF promoting the session.  Please feel free to use the flyer to hand out to your patons.

Morningstar – September Online Training Session MorningstarSept

Patron Training Ideas from Orange County – From Morningstar

From Morningstar Library Notes:

Many libraries took part in our first virtual patron training session earlier this year. In an attempt to help provide you with some marketing ideas for the next patron training session in September, I talked with longtime client Orange County Library System, which is located in the Orlando, Fla., area, which took part in the first session.

Through various marketing activities, Orange County had an excellent number of registered patrons for our virtual tour. Librarians such as Jane Tracy put a lot of work into getting the word out. Tracy remarked, “As a librarian with a strong interest in the Morningstar Investment Research Center I was thrilled to offer patrons the opportunity for training directly from Morningstar.”

The librarians’ enthusiasm paid dividends in the form of registered patrons. A brief list of marketing efforts by OCLS includes:

The Business Team partnered with IT staff to market the event to online customers, specifically targeting those interested in business and investment.

OCLS posted an ad on its Twitter account: Improve Your Finances! Sign up for the free Morningstar Personal Finance Web Training, April 29, 4 p.m.

April’s Web site promotion featured Morningstar Live Web Training in the News box in the center of the OCLS home page, http://www.ocls.info.

The Web training was also listed on the Advanced Classes/Programs Calendar and highlighted on the database description page.

The Community Relations Department put an ad in the OCLS eNewsletter, and our Computer Resource staff promoted the event in the electronic Tech Newsletter.

Library branch staff used Morningstar personalized posters to create bookmarks and flyers to promote the event at branches.

IT staff sent out 630 e-mails promoting the event to people who dropped off business cards at library promotional tables at business conferences.

E-mails were also sent to customers who recently checked out materials on investing.

Questline, the library’s call center, promoted the event directly to customers throughout the month of April.

Whether your library is big or small, there are a number of ways you can promote events, classes, and training. Hopefully, you can incorporate some of these ideas and come up with similar creative ways to spread the word about training classes in the future.

Visit the Client Site (http://library.morningstar.com/tracking) for posters, table tents, training announcements, and more.

If you would like further marketing ideas or material to help promote Morningstar Investment Research Center at your library, please do not hesitate to contact us at libraryservices@morningstar.com.

The next patron online training session is Wednesday, Sept. 30, 2009, at 3 p.m. Central Time (1pm Pacific Time). Any patron can sign up by simply sending an e-mail to librarytraining@morningstar.com. The session will be similar to April’s session, with audio by phone and online viewing. The signup link is also available on The Librarian’s Brain starting June 22, 2009.

Morningstar Online Training Program for Patrons.

We are offering patrons an online training session with Morningstar Online to be held on Wednesday, April 29^th, at 1pm.

Patrons can use their own computers at home to access this training session.

Patrons will discover how to use this valuable database to search for stocks, mutual funds, and ETFs.  They will learn how to evaluate retirement and portfolio holdings.  Get independent analysis reports, helpful articles and industry commentary to help you make sense of this challenging market. 

Attached are promotion cards in which you can hand out to your patrons to advertise this online program.

 

 

Morningstar training for patrons

Morningstar is offering an online training session for patrons on April 29^th at 1pm PT.  They can access the session from any computer connected to the Internet and have a telephone for the audio.  Attached is a flyer in which you are welcome to handout to your patrons who might be interested. Morningstar Patron Training flyer

Morningstar Investment Online Training for Patrons

Patrons can sign up for a Virtual Tour of Morningstar Investment Research Center  They can conveniently access the training session from any location (except the library unless you set  it up in a conference room for them) with a phone and Internet connection.  

On Wednesday, April 29^th, at 1pm, they will discover how to use this valuable database to search for stocks, mutual funds, and ETFs.  Learn how to evaluate retirement and portfolio holdings.  Get independent analysis reports, helpful articles and industry commentary to help you make sense of this challenging market. 

To register, patrons can visit Morningstar Investment Research Center ( from the Library’s website select Databases A-Z, select Morningstar Research Center in the alphabetical list) and go to the ‘Help & Education’ page.  You will find a link in the lower right corner, under the heading, ‘Live Patron Web Training’.  Simply click on it and be sure to mention Las Vegas - Clark County Library with your e-mail.

This notice will also appear on the Librarian’s Brain in early April.

Database Update – Morningstar Library Edition Is now Morningstar Investment Research Center.

The name change also includes a new interface to the database. It has not only mutual funds – but it also has stock research and options data.  It provides industry-level information and analysis and stresses investment education.