Chicago-based Morningstar Inc. is opening its investment research database for free remote access by Chicago Public Library members.
Remote access means users can log into the Morningstar Investment Research Center from any computer using their Chicago Public Library credentials and do not need to create accounts at morningstar.com.
The database houses analysis and stock charts on more than 30,000 stocks, mutual funds and exchange-traded funds, as well as Web-based investing tutorials. Chicago Public Library users will not be able to save portfolios online.
Morningstar said the database is “designed specifically for libraries and other academic research institutions.” The Chicago Public Library has 1.9 million members and more than 70 branches.
Some clarification needed here please – is Morningstar doing this out of the goodness of its heart (giving free access to CPL patrons) or is CPL paying a large amount of money for a subscription to Morningstar so that its patrons can freely access the Morningstar product? Big difference either way – either taxpayers are paying for something, or Morningstar is being philanthropic…which is it?