The Papers that Changed Investing: The Cross Section of Expected Returns

For nearly 30 years, finance had one answer to every question about risk: beta. Market exposure. That single number supposedly explained why some stocks delivered higher returns than others.

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DISCLOSURES:

This video is for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Investing involves risk, including the potential loss of principal. Past performance is not indicative of future results.

This video may include content generated or enhanced using artificial intelligence (AI).

The discussion of Eugene Fama, Kenneth French, and the Fama-French Three-Factor Model, and Dimensional Fund Advisors is intended to illustrate academic finance concepts and does not imply any endorsement of Index Fund Advisors, Inc. or its services.

Index Fund Advisors, Inc. is registered investment adviser. Additional information is available by reviewing IFA's ADV Brochure at https://www.adviserinfo.sec.gov/ or visiting www.ifa.com.