Free Morningstar Analyst Reports Via Public Library Card

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mstar_logo2Let’s say you are a DIY investor and doing some research on municipal funds. You decide to learn more about the Vanguard Intermediate-Term Tax-Exempt mutual fund. You pull up the Morningstar quote pages (ticker VWITX and VWIUX) and find some useful numbers, plus an analyst report hidden to the public as a “premium” feature.

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You see a 14-day free trial and after some more clicking around, you discover that a premium membership to Morningstar costs $199 a year or $24 a month.


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Now, I’d like to read the rest of that analyst report, but I’m not sure if it is worth the fee. Well, you may already have access to those analyst reports through your payment of local and state taxes. Yup, the good ole’ public library!

Many public libraries have a subscription to what is called the Morningstar Investment Research Center database. Most offer instant, online access via your library card number and PIN. You should look under the “Databases” or “Resources” section. Some only have a limited amount of offsite licenses, so you’ll have to either ask for a password or you’ll have to read them in a branch. Here’s a screenshot of my free report accessed from the comfort of my home, with all the good stuff blurred out of course:

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You can access their analyst reports for stocks, mutual funds, and ETFs, as well as the premium version of tools like Portfolio X-Ray.

Now, if your local library system doesn’t provide this access, you can also look around for other libraries in the region for which you are eligible. Finally, there are some public libraries that offer library cards to non-residents for an annual fee. For example, the Charlotte-Mecklenburg Library in North Carolina offers library cards by mail for $45 a year (Seniors 62+, $35 a year).

Non-residents of Mecklenburg County can obtain a Charlotte Mecklenburg Library card for an annual fee of $45.00. This amount is approximately equal to the annual property tax a Mecklenburg County resident pays to support the Library. A non-resident library card entitles you to the full services of the Library at all locations.

They also offer access to the Morningstar database. $45 a year is still significantly less than $199 a year, and you’ll get all the other library benefits like access to Overdrive eBooks. Also check out the Library of Fairfax County, Virginia which offers non-resident library cards for $27 a year.

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Comments

  1. Jonathan – what a wonderful tip! This works flawlessly through my library account (City of San Francisco). Your site rocks – thanks, and have a nice weekend.

  2. Neat trick. I wonder how many of these random librariries will have an influx of out-of-town members. πŸ˜€

  3. Thanks! Great tip. Related to this, check out Zinio for Libraries. Free access to hundreds of online versions of magazines with your library card.

  4. wow, it really works; thanks for the tip; what a treasure trove of
    data I can access now for free;
    I really love my local library; so much resources they have from
    audio/ebooks to movies and books; I always donate to them
    every year;

  5. I check out with my local library which is free to go to. Johnson County Library in Kansas. You will get the access for free.

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