About

This blog compares Vanguard and DFA fund families.

4 thoughts on “About

  1. Very interesting.
    Please keep up the analysis.
    I think you are too generous with the cost of advisors.
    For dfa advisors are mandatory.
    I believe their fees do not include transaction fees to buy the fund
    I believe their fees are after tax whereas expense ratios are in a sense pre tax
    I believe the bizarre twist of psychology behind dfa is that they sell the value of the advisors are limiting turnover which means dfa investors pay for illiquidity rather than getting compensated for bearing illiquidity

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  2. Interesting blog. As someone who is new to investing I caught the smell of clever marketing about DFA – the ‘exclusivity’, lack of tradability, the endless blogs from people extolling their virtues and so on.

    However, is this blog a riposte by a Vanguard insider masquerading as an ordinary punter? In a post-trust world it’s hard to know who you can trust.

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    • Hi Matt. It certainly is hard to know who you can trust. People ask me if it’s OK to invest with Schwab, Fidelity, or some other for-profit company (unlike Vanguard, which is investor owned). I tell them: due to market competition and strict government regulations, the chance that the for-profit guys are going do something nefarious with your life savings is small. But make no mistake: *they would if they could*.

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