Dimensional Funds Advisor's "anti-Wall Street" message gets a plug
in the New York Times
. The Gray Lady hits on DFA's message to advisors and their investors during a review of a new book by dying ex-Banker Gordon Murray. "The Investment Answer" is co-authored by Daniel Goldie who is a financial advisor and former tennis pro (he made Wimbledon's quaterfinal in 1989).
Murray -- who sold bonds at Goldman Sachs and was a managing director at Lehmen Brothers and Credit Suisse First Boston -- had an epiphany thanks to DFA-believer Goldie, quit Wall Street and signed on with DFA where he learned indexing at the knee of David Booth.
"I learned more through Dan and Dimensional in a year than I did in 25 years on Wall Street," Murray told the NYT.
"The most inspirational people who talk about alcoholism are people who have gone through A.A.," are the words from Booth himself. "It's the people who have had the experience and now see the light who are our biggest advocates."
The remainder of the article is straight out of the DFA handbook. Hire an advisor, focus on asset allocation, invest some in foreign stocks, decide between active or passive, rebalance. Simple really.
Sean Hanna, Editor in Chief
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