Morningstar Conference: Unloved Sectors Get Encouragement

CHICAGO -- So I'm a nerd. I actually love going to conferences where asset size and turnover ratios are cocktail chatter, where the buzz is about benchmarks. Where small investors wake at the crack of dawn to get a glimpse of (or take to task) an industry giant. No question, you don't come to the biggest mutual fund gathering of the year if you aren't into mutual funds.

Of course, last night, as more than 1,000 participants, longtime professionals and retail investors alike arrived at the annual Morningstar Investment Conference in Chicago, some skepticism surfaced, too. That's not so surprising after 1998, when most active managers couldn't keep up with the index. But even though the featured sessions get underway today (and we'll bring you explanations from those having a tough time and stock picks from the market-busting managers), here are a couple of early observations:

Finally! or Every Sector Has Its Day

"Value Investing Is Back!" trumpets an invitation to meet the manager of the (BVALX Quote)Babson Value fund. Of course, you might ask, how often have we heard that?

But on the day the Dow charged past 11,000, fueled by some of those long-unloved cyclicals, value once again seemed, well, valuable. At least that's the talk here. ...