Each year, Dimensional analyzes investment returns from a large sample of US-domiciled funds (over 4,000). This year’s study updates results through 2022 and includes returns from mutual funds and exchange-traded funds (ETFs) domiciled in the US. The evidence shows that a majority of fund managers in the sample failed to deliver benchmark-beating returns after costs. We believe that the results of this research provide a strong case for relying on market prices when making investment decisions.

Hal Hershfield, a friend of the podcast, recently had an adaptation from his book, Your Future Self: How to Make Tomorrow Better Today”, published in the WSJ.

We love this concept of “getting to know your future self” taught by Hal Hershfield, who studies the psychology of long-term decision-making, because it’s a lot like our philosophy of taking the long view.

One of Hershfield’s most well-known discoveries suggests that when people are confronted with their “future selves,” they experience an emotional connection that can influence long-term financial and ethical decision-making.

Read his article here.

It’s no secret we love Morgan Housel. We reference him time and time again because everything he says is spot on. If you don’t know, he has a new podcast and we’re enjoying hearing Morgan every bit as much as we love reading him. In the episode “The Power of Staying Put,” Morgan says, “There are so many times in life where what you do is less important than how long you’ve been doing it for.” It sounds a lot like taking the long view.

Listen here.