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2019 Q1 Newsletter

As the Great Recession was wreaking havoc on the global economy, stock markets around the world were being slashed in half, and panicked investors were liquidating hundreds of billions worth of equities, I calmly penned these words in our DEM Q1 2009 newsletter:

“Those of us committed to our fundamentally sound, low cost, and disciplined investment approach will not only survive the current market environment, but thrive during the inevitable recovery.”

Ten years hence, a picture says a thousand words…

2019 Q1 Chart

DFA Global Equity Fund (DGEIX) performance is shown as a proxy for globally diversified equity portfolios tilted toward small cap, value, and profitability factors. It does not represent any actual DEM client account, DEM strategy or DEM composite performance results. This illustration is intended to show how a long-term low-cost globally diversified investment approach performs through market cycles. Performance is reported net of internal fund expenses and includes reinvestment of dividends and other earnings. Returns do not include the deduction of DEM’s advisory fee or transaction costs associated with the purchase or sale of the fund. Performance data shown represents past performance and is not a guarantee of future results. Future performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Additional information about DGEIX, including performance, portfolio characteristics, risks and other disclosures, can be found at

Don Davey
Senior Portfolio Manager
Disciplined Equity Management
Plan Appropriately, Invest Intelligently, Diversify Broadly, Ignore the Noise

2019 Q1 Market Index Returns

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