Episode 99, David Booth, the co-founder and Chairman of Dimensional Fund Advisors (DFA), host Rick Ferri

DFA's $1 trillion success stemmed from academic-driven factor research and trading-execution edge, now facing IRS scrutiny over ETF tax-avoidance structures.

• Academic pedigree: Booth studied under Eugene Fama at University of Chicago in the late 1960s, absorbing Efficient Market Hypothesis theory before leaving the PhD program in 1971 to apply ideas practically.
• DFA founding, 1981: Co-founded with Rex Sinquefield out of his Brooklyn apartment, launching the '9-10 Fund' targeting the smallest two deciles (bottom 300) of NYSE stocks, based on Rolf Banz's unpublished small-cap premium research.

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