to be eligible for the morningstar fund manager of the year award, a manager must first be a morningstar medalist. that puts them in elite company. only 10% of all the fund manager strategies out there -- >> gold, silver, bronze, then the star ranking. these funds are four and five stars exclusively. >> definitely. definitely. so this is the best of the best. the best of the elite. our analyst team looks at all these funds, we use our proprietary five pillar process, or the five ps. one is performance. we are looking at performance in the past and performance we expect to continue in the future. we are also looking at the things that make that performance and make it stable. the people, the process, the parent and the price. we are not looking to award the 2013 fund manager of the year award to just a flash in the pan or manager who took a lot of risk and got hot. these are firms that have been great stewards of capital, they have put their investors' interests before themselves and their firms' and also firms we expect to produce those returns into the future. >> one of the things i kno

and ceo of the year, morningstar's pick for the top chief executive is a turn-around expert whose stock has more than double over the past two years. and tyler will introduce you to him. we have all that and more tonight on nightly business report for wednesday, january 15th. >>> good evening, tyler will be along later. well, stocks are on a roll. another triple-digit gain today for the dow blue chips and the s&p 500 and the dow transportation index all rose to fresh all-time highs. and the nasdaq closed at its highest level in more than 13 years. it looks like stocks have shaken off the stumbling start to the new year. they got a big lift this morning, from bank of america earnings. the bank's profits shot up eight-fold from a year ago. also helping? a big surprise boost in manufacturing and a world bank forecast calling for a stronger growth outlook not only for the u.s., but the global economy as well. on wall street today, the dow jumped 108 points, the nasdaq was up 31 and the s&p added nine points. john manly joins us, chief equity strategist at wells fargo funds management. john,

with overseas markets in focus, morningstar's international stock fund manager of the year will tell us which companies he thinks can ride out the storm and make money for you. all that and more tonight on "nightly business report" for friday, january 24th. >>> good evening, everyone. an ugly day for stocks on wall street and all around the world. the dow tumbled more than 300 points but stocks in europe and asia were down. the worries started yesterday as we reported on concerns about a slow down in china's economy. rolls royce in latin america and other countries big trading partners in china. add to that lackluster corporate news. the dow fell 118 points. the nasdaq down 90 and the s & p lost 38 points. bob pisani has more on today's market action from the new york stock exchange. >> reporter: it was another tough day for the markets. the second day there's been concerns over emerging markets. but it's really a concern about china. there's lots of reasons why traders don't like china. but the main problem is that it's a bit of a black box. not only is there economic uncertainty, t

debbie wang of morningstar says that the industry will shift operations throughout the year to make up for that 1% hit on profitability. " by moving manufacturing to lower cost locations like malaysia or costa rica, they've actually been able to make some adjustments to accomodate this tax so that it doesn't have that much of an impact on their bottom line" as for her picks in the space, wang of morningstar named medtronic as a favorite for its wide range of products. the stock climbed more than 10 percent in the last half of 2013. italian automaker fiat has struck a deal with the united auto workers to buy out the union's 41% stake in chrysler. it sends 4.35 billion dollars to the u-a-w's retiree health care fund.here's the deal---fiat pays 1.75 billion dollars in cash.chrysler pays 1.9 billion and another 700-million over four years. as a result of the deal, fiat absorbs chrysler completely and becomes the world's 7th largest automaker. "we'll have to see what unions in europe take this as a signal of because obviously the uaw got a big, big part of what it wanted. we'll have to see

. >> the morningstar teahouse where i've come for several years, the must-have bone deep, la pet tuk.f fermented leaves, i >>> next day in the full moon festival. whether you're looking out the window at a rural village or at the streets of yangon, what's happening is probably pretty similar, a tableau of car speakers, but also a pratt of charitable good works in the hopes of jacking up your karma. money trees are paraded around pinwood cash donations for months. free bang wets and feasts are held. many moments of spiritual reflection. the majority of people here practice tera vata buddhism, the oldest most conservative form of the religion which, simply put, asserts that existence is pretty much a continuous cycle of suffering through birth, death and rebirth. >> very noisy. very noisy, yes. >> the morningstar teahouse where i've come for several years, the must-have bone deep, la pet tuk. the salad of fermented leaves, i know, it doesn't sound good, but you would be wrong to think that. take the fermented tea leaves, add cabbage, tomatoes and lots of crunchy bits, season with lime a

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there have been stabbings of police they have been building trebuchets and using both scenarios and morningstar as we see an absolute medievalism level of violence coming from these people these several thousand people that are being cheered on and facilitated by the slightly larger crowds on the my done. are. right now engaged on the street which is right up the street from them i don and there is no question anymore that this is a democratic protest even the mainstream opposition leaders have made clear for months now of what they call a revolution against the democratically elected government ok all right that's a good characterization anderson i go to you in washington how do you see what's going on here because of a number of news sources i don't care where you go i mean this looks a lot more than just you know sitting down and protesting the government this has gotten quite out of control there are a number of deaths now and we see the governments asking to sit down for talks but all they get is ultimatums from a very small group of people that are using violence and it's quite obvious go

they have been building trebuchets and using bosun arrows and morningstar as we see in absolute medieval.

here are the numbers from morningstar. of all the municipal bond funds in the u.s. 69% hold at least some exposure to puerto rico. that number is down from several months ago. used to be 75%. why is that? because there's a triple exemption from puerto rico. you don't pay federal, you don't pay local, you don't pay state tax on revenue you get from a puerto rico bond no matter where you live in the united states. so if it's yielding 8% wow, you'd have to get 12% in something that's taxed to get the same kind of return. so a lot of funds have bought puerto rico over the last several years. >> yeah and i'm curious, a lot of people were looking to puerto rico to juice returns in muni bond portfolios. >> the bonds themselves have very strong legal protections. when you're talking about the general obligation bonds, and michelle is right, there are many different types of issues on the island general obligation bondholders have a constitutional protection. the constitution of the commonwealth places debt service on those bonds f

he and his co-manager have been named by morningstar as the top fixed income manager of 2013. quite a few credentials behind him as well. >> see you later, david tweed. >> the business elite will be gathering in davos in switzerland, but nearby there's another meeting to discuss the political into the war in syria. 40 other countries and organizations are attending that meeting. john has the details. >> there is so much riding on this, 100,000 lives have been lost in this conflict. hundreds of thousands going into refugee camps. one in jordan is now the fifth largest city in the country. you have 40 countries and organizations there, the u.n. and the u.s. and russia as well. is the really telling absentees. iran will not be there. william hague, the foreign secretary of the u.n., says it was the right choice. they are not ready to say that a transitional government should be something we should all look for. >> a transitional government made up of those diverse groups. that is what is on the table? >> that is the aim of it. ,ou have the opposition there and the assad regime st

. >> the morningstar teahouse where i've come for several years, the must-have bone deep, la pet tuk.ted leaves, i know, it doesn't sound good, but you would be wrong to think that. take the fermented tea leaves, add cabbage, tomatoes and lots of crunchy bits, season with lime and fish sauce. this is absolutely delicious. >> you like it? >> oh, yes. >> yes, yes, fantastic. >> simple, delicious, things not to be taken for granted if you've been out of joint like this guy, zanzi. >> this happens again and again for us in myanmar. >> almost six years? >> nearly six years. all the judgments are made by the kangaroo court and the army, and the three officers sitting together, they read off, this is your sentence. it happens only minutes, like that. >> what is life like inside prison. >> nice, nice, very nice. >> i have a hard time believing that. >> we can talk to each other, say manage, use a mirror to look at each other? >> books? >> no books, no writing things, no paper. no, nothing at all. a mat and a blanket and a plate and a bowl. >> right. >> only things are the things that we posse

. >> the morningstar teahouse where i've come for several years, the must-have bone deep, la pet tuk. know, it doesn't sound good, but you would be wrong to think that. take the fermented tea leaves, add cabbage, tomatoes and lots of crunchy bits, season with lime and fish sauce. this is absolutely delicious. >> you like it? >> oh, yes. >> yes, yes, fantastic. >> simple, delicious, things not to be taken for granted if you've been out of joint like this guy, zanzi. >> this happens again and again for us in myanmar. >> almost six years? >> nearly six years. all the judgments are made by the kangaroo court and the army, and the three officers sitting together, they read off, this is your sentence. it happens only minutes, like that. >> what is life like inside prison. >> nice, nice, very nice. >> i have a hard time believing that. >> we can talk to each other, say manage, use a mirror to look at each other? >> books? >> no books, no writing things, no paper. no, nothing at all. a mat and a blanket and a plate and a bowl. >> right. >> only things are the things that we possess. >> how is

. >> the morningstar teahouse where i've come, well, for a couple of reasons.chool favorite around here, la pet tuk. the salad of fermented leaves, i know, it doesn't sound good, but you would be wrong to think that. take the fermented tea leaves, add cabbage, tomatoes and lots of crunchy bits like toasted peanut, season with lime and fish sauce. this is absolutely delicious. >> you like it? >> oh, yeah, it's fantastic. >> yes, yes, fantastic. >> simple, delicious, things not to be taken for granted if you've been out of joint like this guy, activist, astrologer, and three times convict. everyone i've met in this country so far has been to prison. >> this happens again and again for us in myanmar. >> almost six years? >> nearly six years. all the judgments are made by tsang kangaroo court, the army, navy, and the three officers sitting together sitting together. they read off, this is your sentence. it happens only minutes, like that. >> what is life like inside prison. >> nice, nice, very nice. >> i have a hard time believing that. >> we can talk to each other

. >>> canadian pacific spoke with a ceo out there just yesterday at the morningstar conference. ane mazing turnaround. move on to "power lunch." the banks bringing us down. the financial sector is today's worse performer. citi group missed expectations. goldman sachs, 21% drop in its quarterly net, and there's how the financials are trading right now. down, down, down. little decline there's, bigger ones for a couple others. goldman and citi, biggest losers, jillian michaels. best buy tumbling. numbers in weak. the stock having one of its worst days in years. down about 27%, 26% today. this comes as jcpenney fires 2,000 workers and gets set to close 33 stores. the changing face of retail all across the usa. will malls even exist in 20 years? and the imf chief christine leggard, a major serious warning about deflation. not inflation. she says it could hit the global economy very hard, and central bankers don't really have all that many tools to fight it. sue, who's always upbeat at the nyse on a bit of a down day. >> we try to be upbeat. today down in the dow jones industrial. ch

and ceo of the year, morningstar's pick for the top chief executive is a

we've had in the last two years mark kiesle in corporates, others in diversified income, mos morningstariversified managers of the year, one, two. the last two years, we have dominated the category. so we are full of talent and ready to expand that menu. it's not a significant shift but it's a continuation of mohammad's policies. >> we have a lot of people saying you idiots, why don't you ask him about his views which we will. we told you we would hold you for like 30 minutes. we weren't kidding. we will go to break and talk more about your views of the market. >> i want to talk more about the menu. >> let's take a look at the markets. down by 161 points but the dow did briefly a few minutes ago dip below the 200 mark. we are currently sitting at 15,763. the nasdaq is off by about 1%. apple, by the way, sitting on 500. we'll be right back. i always say be the man with the plan but with less energy, moodiness, and a low sex drive, i had to do something. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron the only underarm low t treatment that can

with overseas markets in focus, morningstar's inte

. >>> canadian pacific spoke with a ceo out there just yesterday at the morningstar conference.rnaround. move on to "power lunch." the banks bringing us down. the financial sector is today's worse performer. citi group missed expectations. goldman sachs, 21% drop in its quarterly net, and there's how the financials are trading right now. down, down, down. little decline there's, bigger ones for a couple others. goldman and citi, biggest losers, jillian michaels. best buy tumbling.

on morningstar's site, the average long treasury, in other words, long government bond mutual fund, was down 9.1% over the past 12 months, 9.1%. most pimco funds were down slightly less, some a little more. vanguard, wasatch, t. rowe price, they all got whacked. >> the one thing you want to look at in yesterday's news was who they elevated here. dan iveson who they elevated runs pimco income. that's one of these go anywhere bond funds that is designed to sort of profit no matter what's happening. it can go into all sorts of esoteric stuff. that fund has shot out the lights the last few years. it's a different kind of mutual fund than what bill does. and that's a fund that's been taking in tons of money. so in a way they are acknowledging that the head winds in the bond market, even just through what you saw in the personnel moves. if you look at pimco income, it's a different kind of creature and it's the type of thing that bond investors are increasingly gravitating towards. >> really great commentary from both of you. thank you very much. >>> check this out. as we noticed a moment ago

and ceo of the year, morningstar's pick for the top chief executive is a

joining us now is dave woosten from morningstar. thanks for joining us. how worried should we be particularly as it pertains to honda given the continued kind of meltdown, albeit slow one, in the emerging markets? >> sure. honda reported today third quarter fiscal '14 results and honestly i think they had a pretty good quarter despite what we're hearing about with headlines in places like thailand. you have to remember with the japanese auto makers, it's important to look at the yen to dollar exchange rate. they are getting huge tailwind from the yen continuing to weaken. operating income i believe was up about 73%. but only about 10% excluding currency. volumes are still pretty healthy. everyone in the auto industry is concerned about brazil. but that's smaller exposure for honda. their biggest market and most profitable market is the united states. >> it sounds like what you were saying is perhaps it's a small drag on honda, but nothing, given the fact that the yen is such a tailwind for them, nothing that we should worry about longer term. is that a co

with overseas markets in focus, morningstar'

he was named by morningstar as the 2013 top on investor, fixed income investor for the year.y stellar credentials. these two will be co-deputy chief investment officers. they will sit just underneath bill gross. he indicated he is not going anywhere. >> absolutely not. us fromeed joining berlin. what else is on our radar? the storm hitting new york and the east coast is expected to make commuting pretty treacherous. the snow has grounded thousands of flights and closed schools in boston and philadelphia. it has closed federal offices in washington. bill gatesounder says innovation in technology has the potential to solve global problems. the last of our key stories, ibm facing challenges at its server unit, one of the reasons the company's hardware profit fell in the last quarter. the unit is one lenovo is pursuing. ibm dropped for a second straight quarter. still ahead, it could be the most fortified hotel in davos. made for the rich and powerful, hans nichols will take you inside. as well, speaking to nigerian finance and foreign minister, a former managing director of the

. >> like a morningstar moment.ad a lot of your competitors reports and you put a lot of time into the 2014 investment outlook. what is fundamentally different between your outlook versus the other ones out there? think a lot ofi people are of the view the stock market is going to be really good this year yet again. then you have some people in the bubble school, the in between, that you are going to have an ok year but it will be bumpy -- >> and you have a lot of picks mr.ell, as mr. wein and --yet have 10 or 12 picks. >> one is that gold will continue to suffer. do you see another down year for the metal? >> i do, scarlet. gold was up 12 years in a row. it has been an unbelievable bull. we don't have an inflation problem, the system did not all apart. both were one of the two reasons people glommed onto gold. rising dollar, rising interest rates and an economy that is normalizing, not great for -- goinge is the gold chart back to 1950. -thetina, when velveeta - boom in the late 1980's, nominal charge. nothing happ

david latchet of morningstar investment management found that many people are saving an average of 20% they really need 800,000. the longstanding retirement rule is that you need to replace about 70 to 80 percent of your pre retirement income when you finally decide stop working. but, blanchett found that may be too much savings. people tend to spend the most money in their '40's and 50's the spending declines once kids are out of college in mortgages are paid off. so he argues that many people may only need to replace about 50 percent of their pre retirement earnings. >>james: we all have these new year's resolutions. one of mine is to run more pre that was a little bit of weight. getting it is always part of many people's new year's resolution as well. and there's a cheap and easy way to do just that. going out for a run at only requires a good pair of shoes and it the plan and we've got tips for all kinds of runners even the beginner street running as one of the most efficient ways to burn calories up to 600 cals per hour. and whether you are a long time runner or new to the sport t

according to "morningstar" for the first 11 months of 2013 vanguard took in $117 billion out of the total>> singer alicia keys and blackberry will part ways on january 30th past a one-year partnership where the singer-songwriter supposedly served as global creative director. the move comes as the struggling handset maker retreats from the consumer market. blackberry filed a patent infringement lawsuit against type peproducts accusing of the company copying their design. they make a case designed to tach to iphones. that was founded by ryan seacrest. that is latest from fox business, giving you the power to prosper. ashley: all right. some good news for football fans. the colts and packers both sold their remaining tickets to saturday's playoff games and avoided a tv blackout. now the bengals still have a few hours left to sell their remain being tickets. fox sport 1 nfl insider mike ga rafah low, says this is major problem for the playoffs and nfl all season long. thanks so much for joining us. it is just weather-related thing? you're saying this is going on all season but is the weather

all over morningstar mann you find reminders, including 12 blogs the broadway through times square. not to be sidelined on the issue, colombus drive is known for a glorious week as super bowl drive and both teams are staying in the city, and the surface that is media day will be held in newark. hundreds of out of town dollars will be spent ear. >> we appreciate the ako lates and advertisement and the attention, but the game is being held in new jersey. >> for jersey the whole thing is a cold shoulder. from the first super bowl. al jazeera. >> the record for the coldest super bowl was back in 1972. the high was 43, the low 24. next sunday's game will break the record. president obama is ready to face the nation. a look at what he's up against. >> and a look at the bitcoin craze. that's what some prefer it. >> the people are starting to clash... >> welcome back, i'm morgan radford live from new york ci. these are the top stories >> protesters refuse a request to join the government and attack a building inside. >> day three of syrian peace talks. the focus is to release the prisoners