[jively]

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I'm interested in why you have a value bias in the US and a small cap value bias overseas.

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This is based on the Fama and French research that shows small stocks and value stocks outperform large stocks and growth stocks over the long haul. This has been shown to be true in the past in the US over very long time periods, and in international markets and emerging markets.

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And why would someone with $35 million dollars hire a financial advisor to put him into mutual funds. Paying double fees seems silly when, with his portfolio, he could hire top advisors who could build a diversified portfolio of individual stocks on the equity side. This gives him superior tax management and lower fees.

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In my post, I did mention this:

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For $35 million, you can use an advisor that charges a very very small advisory fee and use managed accounts held directly by DFA.

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My managed accounts, I mean "separately managed accouts" where he is owning the individual stocks in his own name, and not in a mutual fund.

-Tom