WMU News

Can anyone beat the markets?

Nov. 3, 2003

KALAMAZOO -- Co-founder and co-chairman of one of the nation's largest mutual fund managers will offer insights on whether the markets really can be beaten when he speaks at Western Michigan University this month as part of the Haworth College of Business Distinguished Speaker Series.

Rex A. Sinquefield, co-chairman of Dimensional Fund Advisors, will present "Miraculous Markets: Can Anyone Beat Them?" beginning at 7:30 p.m. Tuesday, Nov. 11, in the Brown Auditorium of Schneider Hall. The address, which is open by invitation only, is co-sponsored by the West Michigan Analysts Society, will be followed by a question-and-answer session and a reception.

Sinquefield earned his bachelor's degree from St. Louis University and his master's degree from the University of Chicago. At Chicago, he became a strong adherent of the idea that markets work efficiently, and he eventually became one of the pioneers of index investing.

In 1982, Sinquefield co-founded Dimensional Fund Advisors. Based in Santa Monica, Calif., today the company is one of the 10 largest institutional mutual fund managers in the country. DFA has more than $40 billion under management in more than 30 mutual funds.

DFA employs the efficient-market philosophy in all its investments. If markets are efficient, the theory goes, neither in-depth analysis nor market timing will work over the long run. Instead, DFA structures a variety of index funds into which its clients place their investments. Since the funds have low turnovers, their expense ratios are very low. The company's mutual funds have an excellent record compared with competitors in all of the stock categories offered.

The Distinguished Speaker Series, now in its eighth year, brings corporate, education and government leaders to the Haworth College of Business to discuss a variety of topics of interest to the University and Southwest Michigan. Business and community leaders, as well as WMU faculty, staff and students, attend the events. Dr. Christopher M. Korth, WMU professor of finance and commercial law, is founder and chairman of the series.

Media contact: Cheryl Roland, 269 387-8400, cheryl.roland@wmich.edu

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