The Informed Investor

Episoade

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  Should You Invest in Alternatives? | The Informed Investor 57 18.09.2026 57min

  Episode 57: How much of your portfolio should really be invested in alternatives? For ultra-high-net-worth investors and families, alternative investments have long been viewed as a path to diversification, exclusive access, and potentially higher returns. But are they always worth the complexity, illiquidity, fees, and taxes that come with them? We take a critical look at the world of alternatives—from hedge funds, private equity, and venture capital to private real estate and other non-public investments. We explore where returns actually come from, looking at the impact of enterprise risk, financial engineering, and manager skill, and examine whether those sources of return truly justify the additional costs and complexity. We also discuss the role of liquidity, diversification, taxation, manager selection, and investment purpose when evaluating alternatives. Are private investments genuinely less volatile, or do appraisal-based valuations simply make them look that way? And as access expands beyond institutions and ultra-wealthy families into vehicles such as 401(k) plans, are investors really gaining access to the same opportunities? Finally, we look at one of the original homes of alternative investing: endowments. If institutions with long time horizons, sophisticated investment teams, and access to top-tier managers have not consistently outperformed comparable public-market portfolios, what should individual investors conclude? In Episode 57 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, sits down with Jeff Coyle, founder and CEO of Libretto. The takeaway: Alternatives aren't inherently good or bad—they need to be deconstructed, evaluated, and compared against the public markets with a clear understanding of where the return comes from and what you're paying to get it. LINKS FROM TODAY'S EPISODE:  Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor "The Informed Investor" on YouTube The Informed Investor - YouTube Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Jeff Coyle on LinkedIn https://www.linkedin.com/in/jeffcoylelibretto Learn more at https://www.dimensional.com/?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor For US audiences: Select videos are available as part of an opportunity for CFP® and Investments & Wealth Institute® professionals to earn continuing education (CE) credits https://www.dimensional.com/financial-professionals/ce-credit-experience-d360?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor
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  The Formula for a Healthier, Wealthier Marriage | The Informed Investor 56 11.09.2026 44min

  Episode 56: If you and your partner know what you really want out of life, will your investment strategy help you get there?   It absolutely should, say financial advisors Marc and Alison Campbell, who are based in Southern California.   The first step, naturally, is figuring out the first thing—what you really want, individually and collectively—before moving on to the second thing—a suitable strategy.   The Campbells, a married couple who met as MBA students, encourage clients to take personality tests (specifically, the Enneagram https://www.enneagraminstitute.com/type-descriptions/) and to rank where they stand on five essential "domains of life": money, career, health, relationships, and fun. The results inform how the advisors approach developing a financial plan for couples (or individuals) that goes beyond money.   In their work the Campbells stress the importance of living an "intentional life"—discovering who you are, what you desire, and how to get it.   Marc is a Certified Financial Planner. Alison is a Certified Financial Therapist and a former life coach. They believe combining those areas of expertise helps to create rewarding outcomes. "It was all based on one key insight," Marc says. "If a financial advisor had the information that a coach had about a person, the financial advisor would be better off. If a coach had the information a financial advisor had, they'd be better off. It's kind of like peanut butter and chocolate. Put them together, and it's a lot better."   In Episode 56 of The Informed Investor podcast, hosted by Dimensional's Mark Gochnour, Head of Global Client Services, the Campbells lay out their philosophy for applying a whole-life lens to financial advice in an effort to help couples achieve their goals.    LINKS FROM TODAY'S EPISODE:   "Stay Calm: Learn to Embrace Uncertainty in Investing and Life" Order the new book by Dimensional Founder David Booth https://www.amazon.com/gp/product/B0GPDHGH8K/?maas=maas_adg_2F97289929AB0BA26D806A1F81D55D66_afap_abs&ref_=aa_maas&tag=maas&smid=ATVPDKIKX0DER   Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor   For US audiences: Select videos are available as part of an opportunity for CFP® and Investments & Wealth Institute® professionals to earn continuing education (CE) credits. https://www.dimensional.com/financial-professionals/ce-credit-experience-d360?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor   The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor   "The Informed Investor" on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90   Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts   "In This Together" is for individuals and couples who want to work directly with Ali and Marc Campbell to pursue more intentional lives. https://www.lifealpha.co/inthistogether.html   "Life Alpha" is for financial advisors looking to extend their value proposition and improve satisfaction across all areas of their clients' lives. https://www.lifealpha.co/index.html   Marc Campbell Wealth Management at Farther is for people looking for financial advice and comprehensive wealth management. [email protected]   "Redefining Success for a Happier, More Authentic and Fulfilling Life" is Ali Campbell's book about her personal journey. https://www.amazon.com/Redefining-Success-Happier-Authentic-Fulfilling/dp/1641842962/ref=sr_1_1?crid=29C5H2KDX9525&dib=eyJ2IjoiMSJ9.zFcLAPJFnKZ2xBlDv1ij0C7lPgHPTEGoCkyiE8wUxPI._h4oF43kZASzYtjqiljksvHFPDTyCbnPEbxCQFIdSrY&dib_tag=se&keywords=redefining+success+alison+campbell&qid=1787694576&sprefix=redefining+success+alison+campbell%2Caps%2C181&sr=8-1   Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/   Learn more at https://www.dimensional.com/?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor
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  The Power of Diversification, Discipline, and Staying the Course | The Informed Investor 55 04.09.2026 31min

  Episode 55: Successful long-term investing is less about predicting the future and more about having the discipline to follow a clear, consistent investment philosophy. Randy Hardy, a financial advisor based in Chicago, shares lessons from more than two decades on both the institutional and advisory sides of the investment industry, explaining how a deep belief in market efficiency, diversification, rules-based investing, and disciplined portfolio management has shaped his approach to helping clients. Rather than chasing the latest market narrative, picking individual stocks, or attempting to time the market, he believes investors are best served by focusing on the things they can control: their financial plan, asset allocation, diversification, costs, and behavior. The conversation also examines why staying disciplined can be so difficult. Concepts such as "start-date bias" and "portfolio variance risk" help explain why investors can become frustrated when their diversified portfolio doesn't behave like the S&P 500—or when someone who started investing at a different time has a dramatically different short-term experience. The key, however, is understanding that different starting points and periods of market volatility are part of the investing journey, not evidence that the philosophy is failing. We discuss why trying to avoid the market's worst days is nearly impossible, how market timing can undermine financial plans, and why a written investment plan can serve as a North Star during turbulent markets. Most importantly, the episode explores the critical distinction between investment returns and investor behavior: the returns may be available, but investors still have to stay invested long enough to capture them. In Episode 55 of The Informed Investor, Dimensional's Jake DeKinder, Head of Client Communications, sits down with Randy Hardy, President of Factor Wealth Management. Their conversation is about conviction, patience, and perspective—and why a simple, diversified investment strategy can be powerful precisely because it helps investors remain focused on their long-term goals rather than the noise of the moment.   LINKS FROM TODAY'S EPISODE: "Stay Calm: Learn to Embrace Uncertainty in Investing and Life" Order the new book by Dimensional Founder David Booth https://www.amazon.com/gp/product/B0GPDHGH8K/?maas=maas_adg_2F97289929AB0BA26D806A1F81D55D66_afap_abs&ref_=aa_maas&tag=maas&smid=ATVPDKIKX0DER   Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor   The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor   "The Informed Investor" on YouTube The Informed Investor - YouTube   Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts   Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98   Randy Hardy on LinkedIn https://www.linkedin.com/in/randy-hardy-0274091       Learn more at https://www.dimensional.com/?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor   For US audiences: Select videos are available as part of an opportunity for CFP® and Investments & Wealth Institute® professionals to earn continuing education (CE) credits https://www.dimensional.com/financial-professionals/ce-credit-experience-d360?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor
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  How High-Net-Worth Families Can Protect Wealth for the Next Generation | The Informed Investor 54 28.08.2026 1h 3min

  Episode 54: Do you have a plan for your wealth? And, if so, are you prepared to share that plan with your family?   These questions are especially important for high-net-worth families.   When millions of dollars are at stake, a family wealth plan should help address how the money will be invested for growth and preservation of capital—as well as how much can be spent safely, gifted to younger generations, and dedicated to philanthropy.   Sensible stuff. Yet Nirav Batavia, Co-Managing Partner at Forum, a financial advisory firm based near Chicago, says such plans should go beyond important financial details and guidelines. Family stories, values, and dreams should be included too.   "You can put in a lot of processes and a lot of frameworks, but it's not going to stick without the stories, the culture," he says. "How did that wealth get built? What happened to the great grandparents, the grandparents? How do you collect those stories and preserve them for future generations? It comes down to communication."   Put another way, family discussions are a key part of family wealth governance. But Batavia believes most wealthy families are not having those conversations as often as they should.   "The reality is a lot of us put a lot of effort into our business lives, into how we run our firms, how we build for the future, our career path," says Batavia, who has nearly 20 years of experience in financial services. "But a lot of times we don't put even 5% of that towards our family governance."   Intentionality drives governance, he says. Extensive family interaction is required, including age-appropriate sharing with kids. Working through difficult emotions may be necessary. Regular follow-ups then lead to ongoing adjustments as careers and wishes change, children become teens and adults, and portfolios increase in value.   In Episode 54 of The Informed Investor podcast, Dimensional's Mark Gochnour, Head of Global Client Services, picks Batavia's brain for tips on all the parameters of a family wealth plan that can last for generations.   LINKS FROM TODAY'S EPISODE:  "Stay Calm: Learn to Embrace Uncertainty in Investing and Life" Order the new book by Dimensional Founder David Booth https://www.amazon.com/gp/product/B0GPDHGH8K/?maas=maas_adg_2F97289929AB0BA26D806A1F81D55D66_afap_abs&ref_=aa_maas&tag=maas&smid=ATVPDKIKX0DER   Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor   For US audiences: Select videos are available as part of an opportunity for CFP® and Investments & Wealth Institute® professionals to earn continuing education (CE) credits. https://www.dimensional.com/financial-professionals/ce-credit-experience-d360?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor   The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor    "The Informed Investor" on YouTube The Informed Investor - YouTube   Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts   Nirav Batavia on LinkedIn https://www.linkedin.com/in/niravbatavia/   Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/   Learn more at https://www.dimensional.com/?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor
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  5 Investing Rules You Won't See in Financial Media | The Informed Investor 53 21.08.2026 37min

  Episode 53: Are you familiar with "The Death of Equities," an infamous financial magazine headline from August 1979? If not, Weston Wellington, a former vice president at the global investing firm Dimensional Fund Advisors, may want a word. Wellington, who retired this year, frequently hailed this headline as a perfect example of "The Big Tease"—the financial media's insistence on delivering shameless stories about performance that often steer investors astray from sound investing principles like portfolio diversification. His goal was to help investors ignore the noise and recognize that people making predictions usually fail. Equities, needless to say but we'll do it anyway, weren't dead in 1979. From August 1 of that year through June 30, 2026, the annualized return of the S&P 500 Index was +12.4%. (S&P data © 2026 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved Past performance is not a guarantee of future results. Indices are not available for direct investment; therefore, their performance does not reflect the expenses associated with the management of an actual portfolio.) Wellington started working at Dimensional in 1995. Dimensional Co-CEO Dave Butler, who started working for the firm the same year, describes him as a "true trailblazer" and a "naturally gifted communicator." One of Wellington's favorite pastimes was clipping all the attention-grabbing headlines trumpeting brazen predictions and pointing out how wrong they were for the benefit of Dimensional's clients. Another of his favorite headlines—"Why iPod Can't Save Apple"—was published in April 2004. Today, Apple's market value is roughly $4.5 trillion. Communicating investing fundamentals was always important for Wellington. "Weston was not only a great presenter—he was also a great teacher," Butler says. He was particularly fond of this lesson when it came to financial advice: People want to believe the future is predictable, but it's not. In Episode 53 of The Informed Investor podcast, the first of Season 2, Dimensional's Mark Gochnour, Head of Global Client Services, and Scott Bosworth, Head of the Speakers Bureau, engage Wellington on the folly of financial media and what investors can do to tune out the nonsense. LINKS FROM TODAY'S EPISODE:  Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor For US audiences: Select videos are available as part of an opportunity for CFP® and Investments & Wealth Institute® professionals to earn continuing education (CE) credits https://www.dimensional.com/financial-professionals/ce-credit-experience-d360?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor "The Informed Investor" on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90 Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Weston Wellington on LinkedIn https://www.linkedin.com/in/weston-wellington-8bb58943/ Scott Bosworth on LinkedIn https://www.linkedin.com/in/sbosworth/ Learn more https://www.dimensional.com/?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor  
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  Practical Money Management for Your 20s, 30s, and 40s | The Informed Investor 52 02.07.2026 1h 17min

  Episode 52: People in their 20s, 30s, and 40s don't have it easy when trying to figure out the best ways to spend, save, and protect their money. Life often comes at you fast. New relationships, new jobs, new family members, new homes, new bank accounts, all wrapped up in new worries. Kelly Klingaman, Founder and CEO of Kelly Klingaman Financial Planning in Austin, Texas, has some advice. A lot, actually. While Klingaman specializes in advisory services for high-achieving professional women and their families, she believes most young people can benefit from straightforward financial strategies that can help you take control and gain financial peace of mind. When it comes to spending, she recommends a three-bucket system: one for fixed expenses like rent, one for flexible weekly expenses like groceries, and one for nonmonthly spending like vacations. Then, each bucket should get its own bank account so bucket income and outlays can be tracked, and preferably by both partners if you're in a relationship. On the saving front, Klingaman recommends that Gen Z, Millennials, and Gen X should try to put away 10%–20% of their income, both for meeting nonmonthly spending needs and for retirement planning. The money, she says, should be invested in a combination of tax-advantaged 401(k), HSA, and Roth accounts as well as taxable brokerage accounts, depending on one's assets and cash flow needs. And this advice just scratches the surface. Klingaman also weighs in on insurance, estate planning (yes, even young people should get that started), owning versus renting, and much more. In Episode 52 of The Informed Investor podcast, Dimensional's Mark Gochnour, Head of Global Client Services, asks Klingaman all the "must do" money questions on the minds of Gen Z, Millennials, and Gen X (and maybe the parents of all three). LINKS FROM TODAY'S EPISODE:  Preorder "Stay Calm: Learn to Embrace Uncertainty in Investing and Life" https://www.staycalminvesting.com/preorder Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter For US audiences: Select videos are available as part of an opportunity for CFP® and Investments & Wealth Institute® professionals to earn continuing education (CE) credits. https://www.dimensional.com/us-en/financial-professionals/ce-credit-experience-d360  The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90  Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Kelly Klingaman on LinkedIn https://www.linkedin.com/in/kelly-klingaman/ Learn more at https://www.dimensional.com/
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  Don't Fight the Stock Market—Make It Work for You | The Informed Investor 51 26.06.2026 20min

  Episode 51: Why do many investors pull their hair out worrying about where the stock market is headed? Dimensional Founder and Chairman David Booth knows it's an ongoing problem. He also believes it's unnecessary. In his new book, "Stay Calm: Learn to Embrace Uncertainty in Investing and Life," Booth points out that most people already know more about investing than they think. So worrying about it doesn't make much sense. The book will be available September 1, 2026. "Investing is about making decisions under uncertainty. That's most of what life is. You've been doing it since before you can remember with every job change and every move," Booth says. Writing the book is Booth's attempt to share what he has spent 50 years learning. "There are people losing sleep over their financial future who've never had access to these ideas. That's what I'm trying to fix," he says. One of those ideas is letting the market work for you. That means relying on what capital markets can deliver—in the past 100 years, for instance, the S&P 500 gained roughly +10% per year on an annualized basis—instead of trying to predict where they're going. (S&P data © 2026 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved.) In Episode 51 of The Informed Investor podcast, David Booth joins Dimensional's Jake DeKinder, Head of Client Communications, to discuss "Stay Calm" and the power of its "stress-less" approach to investing. Past performance is not a guarantee of future results. Indices are not available for direct investment; therefore, their performance does not reflect the expenses associated with the management of an actual portfolio. LINKS FROM TODAY'S EPISODE: Preorder "Stay Calm: Learn to Embrace Uncertainty in Investing and Life" https://www.staycalminvesting.com/preorder Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90 Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98/ David Booth on LinkedIn https://www.linkedin.com/in/david-g-booth/ Learn more at https://www.dimensional.com/
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  ETFs or Mutual Funds? How to Target Benefits of Both Worlds. | The Informed Investor 50 18.06.2026 24min

  Episode 50: Is investing in exchange-traded funds or mutual funds an either/or choice? Not anymore. Thanks to the recent debut of actively managed ETF share classes—which are tacked onto mutual funds—investors will get multiple access points to an increasing number of  fund strategies. Not many funds currently offer an active ETF share class. But that's likely to change in the months and years ahead. The SEC greenlighted actively managed ETF share classes in 2025, and numerous fund companies have publicly stated that they may offer them. Traditionally, the choice between an ETF or a mutual fund has largely depended on the use case. For example, assuming the underlying investment propositions and fees were similar, an investor might use mutual funds in their defined contribution retirement plan, such as a 401(k), and ETFs in their personal brokerage accounts. Alternatively, investors who value the ability to trade intraday might go for ETFs, while those who prefer the simplicity of trading at the end-of-day net asset value (NAV) might select the mutual fund. Now, one actively managed fund can serve both applications using the same investment process—and all investors can potentially reap significant benefits. For example, portfolio turnover arising from cash flows into either the mutual fund or ETF share class can be used for strategic rebalancing to increase expected returns across both share classes. And all shareholders stand to benefit from lower transaction costs and greater tax efficiency through rebalancing from transactions in the ETF share class. Plus, once the fund industry develops the necessary infrastructure, investors can look forward to nontaxable conversions between traditional share classes and ETF share classes. In Episode 50 of The Informed Investor, Dimensional's Jake DeKinder, Head of Client Communications, David Kavanaugh, Global Head of Investment Operations, and Isabelle Williams, Deputy Head of Investment Solutions, break down this revolutionary change in the fund industry and discuss the advantageous implications for fund investors. LINKS FROM TODAY'S EPISODE:  Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90 Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98/ David Kavanaugh on LinkedIn https://www.linkedin.com/in/david-kavanaugh-59855a4/ Isabelle Williams on LinkedIn https://www.linkedin.com/in/isabellewilliams/ Learn more at https://www.dimensional.com/ For US audiences: Select videos are available as part of an opportunity for CFP® and Investments & Wealth Institute® professionals to earn continuing education (CE) credits. https://www.dimensional.com/us-en/financial-professionals/ce-credit-experience-d360 
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  Stock Market Timing Mistakes That Investors Can't Afford to Make | The Informed Investor 49 12.06.2026 25min

  Episode 49: Why is market timing so alluring for so many investors? Probably because a perfect timing strategy—assuming it's out there and it works—promises huge rewards. In theory. But there's a huge caveat. A perfect timing strategy would have required perfect foresight—correctly predicting when stocks will rise or fall. That's a tall order when you consider that most professional forecasters miss the mark. https://www.dimensional.com/us-en/insights/reality-check-capital-market-assumptions-vs-actual-returns While perfect foresight isn't necessarily required for all other market-timing strategies, evidence to support their effectiveness is limited. Fortunately, there is one timing strategy that tends to reward most investors who stick with it, and it's probably the easiest to implement: simply holding a diversified portfolio for the long run. From 1926 to 2025, the S&P 500, a broad market proxy, delivered positive returns in almost 75% of calendar years while gaining an annualized 10.5% in that 100-year span. (S&P data © 2026 S&P Dow Jones Indices LLC, a division of S&P Global. Past performance is not a guarantee of future results. Indices are not available for direct investment; therefore, their performance does not reflect the expenses associated with the management of an actual portfolio.) In Episode 49 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, Katie Hendrix, Asset Allocation Research Director, and Jake DeKinder, Head of Client Communications, examine both the psychological attraction of market timing and the data for and against it. LINKS FROM TODAY'S EPISODE:  Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90 Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Kaitlin Hendrix on LinkedIn https://www.linkedin.com/in/katie-hendrix-57a30226/ Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98/ Learn more at https://www.dimensional.com/ For US audiences: Select videos are available as part of an opportunity for CFP® and Investments & Wealth Institute® professionals to earn continuing education (CE) credits. https://www.dimensional.com/us-en/financial-professionals/ce-credit-experience-d360
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  Stock Indexes Are Changing. Is Your Portfolio Prepared? | The Informed Investor 48 05.06.2026 29min

  Episode 48: Does "index reconstitution" help or hurt everyday investors? The phrase refers to periods when stock indexes are rebalanced—when stocks are added to or dropped from an index (like the S&P 500 or Russell 2000 Index), often annually, semiannually, or quarterly. If you own index funds, which attempt to track the returns of indexes, reconstitution events may take a hidden bite out of your returns. The problem is that index funds tend to buy and sell the same things when index providers reconstitute their indexes, creating a massive demand for liquidity that can reduce value for investors. Research by Dimensional shows that average daily trading volume for stocks added or deleted tends to rise 20x to 50x higher over the following days and weeks. https://www.dimensional.com/us-en/insights/measuring-the-costs-of-index-reconstitution-a-global-perspective This process typically begins when index providers publicly announce changes ahead of time. Sophisticated traders such as hedge funds will get ahead of these trades, acting as liquidity providers to index funds. This typically pushes prices up before index funds buy and down before they sell. As a result, index fund managers systematically buy high and sell low, cutting into performance for both the index fund and the index itself. But these trading costs are not reflected in the fund expense ratio, and they affect both your investment and the index, creating a hidden cost for investors. Another potential cost of reconstitution is what's known as style drift. This phenomenon occurs when a fund's holdings drift from the targeted objective or asset class—often due to infrequent rebalancing. While the characteristics of individual stocks evolve every day, holding a stale roster of names due to infrequent rebalancing may lead investors to miss out on opportunities for outperformance. Fortunately, everyday investors don't have to settle for the hidden costs and the lower return potential tied to index reconstitution. In Episode 48 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, Rob Harvey, Co-Head of Product Specialists, and Jake DeKinder, Head of Client Communications, explain how index reconstitution events impact your investment opportunities and what investors can do to help minimize the potential costs. LINKS FROM TODAY'S EPISODE:  Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube [update with live link] Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Rob Harvey on LinkedIn https://www.linkedin.com/in/robkharvey/ Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98/ Learn more at https://www.dimensional.com/
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  How to Beat Inflation with Stocks and Bonds | The Informed Investor 47 29.05.2026 22min

  Episode 47: What should investors do to cope with inflation? Plenty are probably wondering what to do next now that inflation is rising again. The first move: Try to understand how inflation impacts investments. The next move: Determine whether your portfolio is positioned to manage the risks of inflation and still achieve your financial goals. One key principle to get comfortable with is that expected inflation is incorporated into the expected returns demanded by market participants. The important implication is that market prices adjust to compensate for inflation expectations so that expected returns after accounting for inflation (also known as expected real returns) stay positive. This principle applies to both stocks and bonds, and it's good news for investors. When you participate in capital markets, you can potentially increase your purchasing power with growth investments or prevent a loss of purchasing power using strategies that keep up with unexpected inflation. Dimensional research suggests that simply staying invested helps outpace inflation over the long term for a wide range of asset classes, and the firm's analysis covers periods with double-digit US inflation as well as periods with deflation. https://www.dimensional.com/us-en/insights/are-concerns-about-inflation-inflated Over the long haul, stocks have beaten inflation by a significant amount. https://www.dimensional.com/us-en/insights/will-inflation-hurt-stock-returns-not-necessarily Treasury and corporate bonds have also outperformed inflation, although by much smaller margins than stocks. https://www.dimensional.com/us-en/insights/will-inflation-hurt-stock-returns-not-necessarily Meanwhile, Treasury Inflation-Protected Securities (TIPS) have been a useful tool to "hedge," or track, unexpected spikes in inflation. https://www.dimensional.com/us-en/insights/tips-can-help-investors-when-inflation-spikes And additional tools are available to achieve this goal. Some investors may wonder whether cryptocurrency, gold, or other commodities can help outpace or hedge inflation. The evidence here is much less convincing. In Episode 47 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, Sooyeon Mirda, Senior Investment Strategist, and Jake DeKinder, Head of Client Communications, dissect the key role that inflation plays in investing and lay out several solutions for investors concerned about the short- and long-run impacts. LINKS FROM TODAY'S EPISODE:  Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube The Informed Investor - YouTube Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98/ Sooyeon Mirda on LinkedIn https://www.linkedin.com/in/sooyeon-kim-mirda-cfa-1bb99584/ Learn more at https://www.dimensional.com/
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  Why Diversification Beats Stock Picking | The Informed Investor 46 22.05.2026 21min

  Episode 46: Are 30 stocks enough to build a truly diversified portfolio? We seek to answer one of investing's most debated questions: How many stocks does an investor really need to own to reduce risk and improve long-term outcomes? While traditional financial research once suggested that owning 20 to 30 stocks captured most diversification benefits, today's global markets may tell a very different story. The discussion dives into the evolution of diversification theory, from the early days of Modern Portfolio Theory and Harry Markowitz to the modern reality of investing across more than 40 countries and thousands of publicly traded companies. We examine why a concentrated portfolio of 30 stocks may expose investors to greater risks tied to countries, sectors, and individual companies—and why broad diversification can provide better flexibility, lower implementation costs, and potentially more reliable outcomes over time. Using real-world examples, including return differences between countries like Spain and Denmark, as well as performance gaps between companies in the Magnificent 7, the conversation highlights how difficult it can be to consistently "pick the winners." We also touch on concepts like tracking error, sampling strategies in index funds, securities lending, investor discipline, and the trade-offs between concentration and diversification. Importantly, the discussion goes beyond investing in stocks alone as we explore how diversification applies to fixed income portfolios, including why bond diversification should be aligned with an investor's goals, risk management needs, and time horizon. In Episode 46 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, Wes Crill, Senior Client Solutions Director, and Jake DeKinder, Head of Client Communications, take a practical and thought-provoking look at what diversification really means in today's investment landscape, whether you're building a portfolio yourself or working with a financial advisor. Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter   The Informed Investor Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey   The Informed Investor on YouTube  https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90 Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts   Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/   Wes Crill on LinkedIn https://www.linkedin.com/in/wes-crill-77a49417/   Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98/   Learn more at https://www.dimensional.com/
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  Here's Why Most People Can't Beat the Stock Market | The Informed Investor 45 15.05.2026 24min

  Episode 45: Does "market efficiency" sound like investing gobbledygook? For many people, the phrase is hard to comprehend. When they see the stock market soar or plunge, they might think prices are out of whack. When they hear about a lucky few making a killing or sad sacks losing their shirt, efficiency probably isn't what comes to mind. But for most investors, it's helpful to dispense with these knee-jerk conclusions. Every day, buyers and sellers come to the market and together determine an asset's fair value. This means the prices at which those trades are executed already incorporate all the information available to those buyers and sellers. The market is an efficient information-processing machine. No, prices aren't necessarily right, whatever that means. But they are fair, according to the efficient market hypothesis, the idea coined in the 1960s by Nobel laureate Eugene Fama, a professor at the University of Chicago Booth School of Business. The implication is that anyone who buys or sells thinking they can make a killing based on mispricing is likely to be disappointed. That doesn't mean it's impossible. Just unlikely. Research going back decades provides ample evidence that money managers can't seem to beat the market consistently. Are there sensible alternatives? One option is to rely on what capital markets can deliver while modifying your portfolio based on your risk tolerance and investment goals. In Episode 45 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, Wes Crill, Senior Client Solutions Director, and Jake DeKinder, Head of Client Communications, dig into the misunderstood concept of market efficiency and show how this elegant idea can help most people have a better investment experience. LINKS FROM TODAY'S EPISODE:  Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter  The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey The Informed Investor on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90  Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Wes Crill on LinkedIn https://www.linkedin.com/in/wes-crill-77a49417/ Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98/ Learn more at https://www.dimensional.com/
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  Strategies to Protect Your Assets for a Low-Stress Retirement | The Informed Investor 44 11.05.2026 44min

  Episode 44: Are you confused about how to meet saving and spending goals at the same time? Conflicts between these objectives may seem daunting as you plan for retirement. If you spend more now while saving less, your financial future may look questionable. If you spend less now to save more for the future, today may seem bleaker than it needs to be. Enter the Bucket Plan. Devised by Jason Smith, the founder of Prosperity Capital Advisors and C2P Enterprises, the Bucket Plan splits wealth management into three buckets—Now, Soon, and Later—based on one's investment time horizon, volatility tolerance, and income requirements. The Now bucket is for safe and liquid assets that can help meet immediate spending needs and, say, build an emergency fund. The Soon bucket is for preserving wealth with conservative investments that will be needed sooner rather than later but not tomorrow. The Later bucket is for long-term growth and legacy planning. It's a system capable of handling financial planning for people at all different stages of life. Each bucket has a purpose and seeks to reduce risks so that investors avoid bad decisions that could hurt their long-term plan. How you use this system will depend on where you are in the "money cycle"—the accumulation, preservation, or distribution phases of life. In Episode 44 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, and Jason Smith, a financial professional with more than 30 years of experience, explore how investors can execute their own Bucket Plan as they pursue short- and long-term financial goals. LINKS FROM TODAY'S EPISODE:  The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90 Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Jason Smith on LinkedIn https://www.linkedin.com/in/jason-l-smith-cep%C2%AE-bpc-b998ab14/ Learn more at https://www.dimensional.com/
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  A Survival Guide for Financial Suprises | The Informed Investor 43 01.05.2026 57min

  Episode 43: If you're newly divorced or widowed, what should you do about money? Undoubtedly, you'll have bills to pay immediately, urgent tax issues, estate documents requiring updates, and plenty of other pressing questions. Like, do you have enough cash? And where are all the passwords? Evelyn Zohlen, a Regional Director and Senior Financial Planner with Apella Wealth who specializes in helping women in financial transition, says these questions are especially challenging if you're grieving due to a divorce of the death of a partner. But she adds that addressing urgent financial questions around logistics, taxes, insurance, and actionable advice can help empower newly single women to feel confident about managing their finances. Zohlen, a former intelligence officer in the US Air Force, founded Inspired Financial, where she spent 20 years supporting women in transition, particularly through divorce and widowhood. In Episode 43 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, speaks at length with Zohlen about the biggest hurdles facing women going through such transitions and the key action items they should tackle today. LINKS FROM TODAY'S EPISODE:  Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter Register for a May 19 Webcast with Dimensional Founder David Booth on his upcoming book Stay Calm: Principles from Life and Investing https://event.webcasts.com/starthere.jsp?ei=1758565&tp_key=0b1a3c07cc The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey The Informed Investor on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90  Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Evelyn Zohlen on LinkedIn https://www.linkedin.com/in/evelynzohlen/ Learn more at https://www.dimensional.com/
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  The Small-Business Playbook: Strategy, Taxes, and Timing | The Informed Investor 42 24.04.2026 35min

  Episode 42: What happens to your life—and your wealth—when the business you built becomes one of your biggest risks? We dive deep into the unique challenges facing small-business owners who are navigating growth, managing their own wealth, and planning for an eventual exit. Featuring insights from Pat Collins and Michael Goodman, two seasoned professionals at Greenspring Advisors, this conversation tackles the critical intersection between personal financial planning and business strategy. You'll hear why so many small-business owners delay succession planning, and how that hesitation can limit future options. From the "silver tsunami" of retiring owners to the emotional complexities of letting go, they explore why exit planning isn't just a financial decision—it's a personal one. They also break down the most common pitfalls, including overreliance on a single asset (your business), lack of diversification, and gaps in risk management like insurance and tax planning. You'll also learn practical strategies to increase business value, prepare for a successful transition, and build a coordinated team of advisors (from CPAs to attorneys) to help guide the process. But numbers only tell part of the story. Pat and Michael also examine the behavioral side of exit planning: identity, purpose, and what life looks like after the deal is done. Whether it's consulting, philanthropy, or rediscovering passions, we explore how to prepare for the next chapter in life. In Episode 42 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, sits down with Pat Collins and Michael Goodman from Greenspring Advisors. In addition to their discussion about running and selling a small business, they also touch on smart retirement strategies, including how much income you should save and the need for flexibility between traditional and Roth accounts. Whether you're a small-business owner thinking about selling—or just starting to plan—this episode offers key insights to help you maximize not just your exit, but life beyond it. LINKS FROM TODAY'S EPISODE:  The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube The Informed Investor - YouTube Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Michael Goodman on LinkedIn https://www.linkedin.com/in/michaelgoodman3/ Pat Collins on LinkedIn https://www.linkedin.com/in/j-patrick-collins/  Learn more at https://www.dimensional.com/
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  War, Oil, and Stock Market Resilience | The Informed Investor 41 17.04.2026 25min

  Episode 41: Are you an investor who gets rattled by news about the war? It's a common reaction. Worrisome headlines, especially those highlighting geopolitical conflicts or missile launches or the loss of life, would scare just about anyone. But it's important to separate your emotional reactions from your approach to investing. Current market prices generally reflect whatever is happening around the world. This means the market has already digested the worst (and best) news of the day and moved accordingly. So investors who think stocks are due for a big move due to the war in Iran, blockades, oil prices, or anything else should realize that market prices have already incorporated all that information and landed in a place that offers positive expected returns. The past offers some useful context. In many cases the stock market showed resilience in response to episodes of geopolitical turmoil. Even the shock of the COVID-19 pandemic didn't stop the market from rallying through the end of 2020. Painful drawdowns can happen when global conflicts turn into hot wars, and those drawdowns can last a while. But market pessimism can also turn around in a flash. It's not uncommon to see intrayear declines of 10% or more in years when the market delivers strong returns. In Episode 41 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, Wes Crill, Senior Client Solutions Director, and Jake DeKinder, Head of Client Communications, analyze stock market reactions to geopolitical risks and discuss what investors can do to manage the fallout. LINKS FROM TODAY'S EPISODE:  Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter The Informed Investor Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey The Informed Investor on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90  Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Wes Crill on LinkedIn https://www.linkedin.com/in/wes-crill-77a49417/ Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98/ Learn more at https://www.dimensional.com/
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  Advantages of Working with an Investment Professional | The Informed Investor 40 10.04.2026 23min

  Episode 40: Does everyone need a financial advisor? Not necessarily. But for many investors, having a coach makes sense. Think about your financial needs beyond your investment portfolio. Are you in good shape when it comes to insurance, taxes, saving for college, retirement, and estate planning? How would you know? The uncomfortable truth is that there's a lot more to your financial life than the ups and downs of the stock market. That's where an unbiased investment professional, sitting on your side of the table, can help. An advisor can assess every aspect of your finances and create a holistic wealth management plan that can change as life happens, in the short and long run. Yes, the advisor will charge for these services, so investors would pay more under this scenario than if they were to go it alone. But if an advisor can help you capture more of the gains available in the capital markets while tailoring your portfolio to your needs and goals and helping you develop a comprehensive financial plan, odds are you may come out ahead. Not every investment professional who offers financial advice will suit you. It's important to find one who can speak with you in depth about your hopes, dreams, and concerns—and be accessible when you need to talk. In Episode 40 of The Informed Investor, Dimensional Head of Client Communications Jake DeKinder talks with Rob Morrison, Chief Experience Officer at Savant Wealth Management, about the evolution of financial advice and the key role coaching can play in your investment journey. LINKS FROM TODAY'S EPISODE: Subscribe to the Stay Calm Investing Newsletter https://www.staycalminvesting.com/newsletter The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube The Informed Investor - YouTube Dimensional Fund Advisors Shorts on YouTube  https://www.youtube.com/@dimensionalfundadvisors/shorts Jake DeKinder on LinkedIn https://www.linkedin.com/in/jake-d-4105b98/ Rob Morrison on LinkedIn https://www.linkedin.com/in/robert-morrison-73766211/ Learn more at https://www.dimensional.com/
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  What Did Bob Pisani Learn from 35 Years on Wall Street? | The Informed Investor 39 02.04.2026 35min

  Episode 39: What's it like to spend 35 years at the center of Wall Street—and never want to leave? In this compelling conversation, longtime CNBC markets correspondent Bob Pisani reflects on a career that began almost by accident and evolved into a front-row seat to some of the most transformative moments in financial history. From his early days as a real estate reporter, shaped by teaching at Wharton and co-authoring a foundational industry book, to becoming a trusted voice on the floor of the New York Stock Exchange, Bob shares how a mix of timing, curiosity, and communication skills shaped his journey. He recounts CNBC's unlikely rise in the 1990s, fueled by the explosion of the internet, the debut of online trading, and the network's unique position as the "stock market channel" during the dot-com boom. Bob reflects on what it felt like to go from having virtually no audience to being part of one of the hottest platforms in television—and why those years were the most exciting of his life. Beyond the stories, Bob dives into the principles that guided his reporting and investing philosophy. He explains the importance of understanding your audience and simplifying complex financial concepts. And he shares lessons from influential figures like Jack Bogle and insights from behavioral economics that reshaped how he thinks about markets and investing. Bob also discusses his deep experience covering ETFs, including why they resonate with investors and his concerns about their growing complexity. In Episode 39 of The Informed Investor with Dimensional's Mark Gochnour, Head of Global Client Services, Bob Pisani shares unforgettable stories from the floor of the NYSE, lessons from decades of market coverage, and the mindset that helped him thrive in one of the most demanding environments in media—offering valuable insights for investors, communicators, and anyone curious about what really drives success on Wall Street. LINKS FROM TODAY'S EPISODE:  The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90  Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a Bob Pisani on LinkedIn https://www.linkedin.com/in/bobpisani   Learn more at https://www.dimensional.com/  
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  Inside the ETF Boom with Todd Rosenbluth | The Informed Investor 38 27.03.2026 21min

  Episode 38: What if there are already too many exchange-traded funds—and that's actually a good thing? Dive into the ever-evolving world of ETFs with industry expert Todd Rosenbluth to unpack the explosive growth, innovation, and complexity shaping today's ETF landscape. Todd offers a front-row perspective on how the industry has evolved from simple index-tracking funds to a universe of over 5,000 products—and counting. With decades of experience and deep roots in ETF research and education, Todd shares his perspective on where the ETF industry stands today—and where it's headed next. He explores key trends, including the impact of the ETF Rule of 2019, which opened the door for a wave of actively managed ETFs. Todd explains why this surge in new products isn't necessarily a bad thing—but it does put more responsibility on investors and advisors to truly understand what they're buying. From thematic strategies to leveraged and options-based ETFs, this conversation explores the growing complexity within the market. Todd emphasizes that while low cost, tax efficiency, and liquidity remain core advantages, they shouldn't be the only factors guiding investment decisions. "Cheaper" doesn't always mean "better," and knowing the use case behind each ETF is critical. In Episode 38 of The Informed Investor, Dimensional's Mark Gochnour, Head of Global Client Services, speaks to Todd about all things ETF, including the future of ETF share classes, the ongoing shift from mutual funds to ETFs, and whether retirement accounts like 401(k)s will eventually embrace ETFs more fully. Plus, Todd shares why he believes the ETF industry's strong reputation remains intact—even as more sophisticated (and sometimes riskier) products enter the market.   LINKS FROM TODAY'S EPISODE:  VettaFi: https://www.vettafi.com ETF Trends: https://www.etftrends.com ETF Database: https://etfdb.com The Informed Investor: Feedback Survey https://www.dimensional.com/us-en/informed-investor-survey "The Informed Investor" on YouTube: https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90  Dimensional Fund Advisors Shorts on YouTube https://www.youtube.com/@dimensionalfundadvisors/shorts Mark Gochnour on LinkedIn https://www.linkedin.com/in/mark-gochnour-9a23598a/ Todd Rosenbluth on LinkedIn https://www.linkedin.com/in/todd-rosenbluth-89120a/ Learn more at https://www.dimensional.com/