Tune Out the Noise - Luck or Skill?

Are active money managers just lucky? Eugene Fama exposes the hard truth about stock picking with data that proves most investment "expertise" is just random chance.

Gene Fama, "a poor kid from Malden," a working-class town in eastern Massachusetts, at first majored in French when he enrolled at Tufts, his local university, in the 1950s. But he soon discovered economics and fell in love with it. Fama, a 2013 Nobel laureate, is regarded as the father of the efficient market hypothesis. Gene Fama is a Dimensional Director and Consultant.

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DISCLOSURES:
Tune Out the Noise is a documentary film produced by Julie Ahlberg and Robert Fernandez, directed by Errol Morris, presented by Dimensional Fund Advisors (DFA), and is currently streaming on YouTube. The YouTube version is embedded on this website for informational purposes only. Index Fund Advisors, Inc. (IFA) is not affiliated with DFA, and the inclusion of this video does not constitute an endorsement of DFA, its products, or its services by IFA. Similarly, the appearance of any individuals, including David Booth or other notable figures, in this film does not indicate an endorsement of IFA, Mark Hebner, or any particular investment product, strategy, or advisor. DFA sponsors events by IFA, invites employees of IFA to participate in conferences hosted by DFA and refers clients to IFA in accordance with the standard terms of DFA's referral program. DFA reimbursed Mark Hebner's actual lodging and travel expenses to participate in the film but did not compensated him for his participation in the film. The content of this film is intended to explain how academics at the University of Chicago in the 1960s created groundbreaking research that was used by firms like Dimensional Fund Advisors to change traditional methods of investing.  It should not be construed as investment, legal, or tax advice. All investments involve risks, including the loss of principal. Past performance is not indicative of future results, and there is no guarantee that any investment strategy, including indexing, will be successful. This film is presented here with permission from Dimensional Fund Advisors. No further republication, redistribution, or modification of this content is permitted without the express written consent of DFA. Viewers are encouraged to use the pause button to read any important disclosures presented during the film and in the credits.