Tune Out the Noise | movie | 2023 | Official Trailer - video Dailymotion

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A group of University of Chicago pioneers in the 1950s leveraged early computer data analysis to revolutionize Wall Stre | dG1fbzNDemZ6X0FDMTQ

Transcript

00:01People are having a much better investment experience now than they did 50 years ago.

00:05It's pretty cool to see how that all happened.

00:07It's this belief system we have about how investing works.

00:11Who is we?

00:12Dimensional.

00:13We were in the right place at the right time.

00:15If we hadn't gone to Chicago then, we wouldn't be here today.

00:19My generation came along at the right time.

00:21Data was starting to be generated.

00:24Nobody had touched the data, so whatever you did was new.

00:27It was like shooting fish in a barrel.

00:30Did you realize that you were challenging how investing was done?

00:35Absolutely.

00:36That was fun.

00:37I loved it.

00:38We were armed with so much knowledge.

00:40We knew things that Wall Street didn't know.

00:42What's the difference between a data freak and a data dog?

00:45A freak thinks it's fun.

00:48In 1969, none of these professors had received a Nobel,

00:53but half a dozen of them or so became Nobel laureates.

00:56These are legends, and they were just floating around the finance department.

00:59Martin Miller explained this notion of efficient markets.

01:02I remember sitting there thinking, this makes everything make sense.

01:07I remember him saying three things that stuck with me forever.

01:10Markets work, costs matter, and diversification is your buddy.

01:14The real world was challenged by that way of thinking.

01:17The enemies of index funds were everywhere.

01:20Investment advice in those days was built around fear and greed.

01:23And to defeat such a mindset?

01:26You can show the data.

01:28By 1981, when we started Dimensional, a lot of people had moved to indexing.

01:33But people weren't investing in the stocks of smaller companies.

01:36We were the first people to treat small cap stocks as a separate asset category.

01:40It worked.

01:41Are you surprised?

01:42Of course not.

01:43Data doesn't lie.

01:45What investing is about is dealing with uncertainty.

01:49People want to shrink away from uncertainty.

01:51And it's uncertainty that really creates opportunity.

01:54What we have done is develop a framework.

01:58People started framing their portfolio in a much more constructive way.

02:02Fundamentally, people want to improve their lot in life.

02:05They want to improve the lives of their families.

02:08There's a lot of hope.

02:09Instead of rolling your hair out and watching financial news all day long, tune out the noise.

Tune Out the Noise | movie | 2023 | Official Trailer

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