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Screening Process At DFA Inspires Devotion, Loyalty
DFA funds are trying to extract illiquidity premium from small/micro caps. Thus, to achieve that they need to have low turnover in their strategy. If someone is not willing to sit tight in short term, these funds are not for that investor thus their screening of advisors who are willing to follow their strategy is reasonable. This is why these funds are not investor class. They have no control on individual investors.
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