Dimensional Investing

How markets work has really been the central story of Dimensional. That belief in markets is a passion around Dimensional and then that passion becomes irresistible to people in the firm and people that are working with us as clients. We're not selling magic. If I say I can go and pick stocks, that's kinda like saying I have some magic. Whereas, we don't say that. We look at academic research, we take what seems to be robust and we develop products based on that, that are very simple, easy to understand, and we implement it in what we think is a quite rigorous way. The scale of Dimensional today is not what we were thinking about 36 years ago, but on the other hand in a sense it was, because I think we had a view that a different way of investing money was gonna one day see the light of day and people would be enthralled by the opportunity to have their money put to work in ways that we do. If we can help people understand the things we've measured, we can help people understand markets, help them understand uncertainty and they're in a better position to deal with it. One of the things that makes me happiest about working with Dimensional is the direction we're given is absolutely clear. Our goal is not to try to justify what the firm wants to do with our research. Our goal is to inform what the firm wants to do with our research. Given the evidence that we've discovered, or that other academics have discovered. Exactly why we've earned that trust, I mean I can speculate a bit about it, but I really do think it largely comes down to the foundation based on data, based on honest, reliable, open implementation, academic thinking, adaptivity, making adjustments as we discover more that we need to keep relying on top-notch academic research, and well that's the underpinning of Dimensional. So, I always ask the question, why not Dimensional? We're of a certain size today. We have no goal around a size going forward, but I think because we have all of this in place, in my mind, there is no reason why any client shouldn't have Dimensional in their portfolio.