Brett Chase

Forget Apple and Google. Ask portfolio managers for their top tech stock picks and you may get some less familiar names.

There’s too much bullish bias and herd mentality among financial advisors who fear losing their jobs when they should be focused on long-term returns, value manager Jeremy Grantham says.

When it comes to ETFs, advisors “need to look under the hood,” ETF expert Eric Biegeleisen said during a session at the Morningstar Investment Conference. “You have to understand why every stock and bond is in there.”

“Investors seem to equate investing with gambling,” said George C.W. Gatch of J.P. Morgan Asset Management, and they “have begun to doubt the power of diversification.”

The Chinese gambling industry, the U.S. housing market and banking companies’ corporate debt are among growth areas in a difficult investment environment, a panel of money managers said at the Morningstar Investment Conference.