Market Summary – Q3 2013
The Royal Swedish Academy of Sciences announced on October 14, 2013 that Eugene Fama, Professor of Economics at the University of Chicago will share in this year’s Nobel Prize for Economics.* We congratulate Gene Fama on the recognition he has achieved. It was his research and teaching along with co-author and collaborator Professor Kenneth French ( Dartmouth) on efficient markets and Small Cap and Value investing that provided the insight and inspiration to David Booth who went on to found Dimensional Funds Advisors (DFA). Dr. Booth earned his PhD under Professor Fama in the early...
Read MoreMarket Summary – Q2 2013
The US Stock market continued to deliver strong gains this past quarter with the broader index (as measured by the S&P 500) gaining almost 14% year to date through June 30th and ahead almost 3% for the quarter. As it happened, most of the other asset classes we invest in were not invited to the party and generally lost ground over the past three months. Some of the safest investments were hardest hit such as bonds – which lost value as interest rates rose. Treasury Inflation Protected Securities, also known as TIPS, lost over 7% for the quarter, the majority of which occurred in...
Read MoreOctober 2013: Nobel Prize to Efficient Market Pioneer
The Royal Swedish Academy of Sciences announced on October 14, 2013 that Eugene Fama, Professor of Economics at the University of Chicago will share in this year’s Nobel Prize for Economics.* We congratulate Gene Fama on the well earned recognition he has achieved. Fama’s research with long-term collaborator Professor Kenneth French from Dartmouth has been focused on the efficiency of markets and the higher expected return from small company and cheaper [value] stocks. This provided insight and inspiration to David Booth, a former student, who went on to establish Dimensional Funds...
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