Review not done yet, just a few comments so far
DFA is an outside third party investment manager that maintains several kinds of portfolios.
They say that active investment management doesn't work, but then they're market timing and picking stocks - which is the definition of active management. So that makes no sense.
Their main theme is
market timing with asset classes that they "invented." So they're picking stocks and market timing based on their forecasts of which of their unique asset classes will do best.
The thing to be afraid of is their use of leverage. Look at the what Morningstar thinks their cash positions are, and you'll see negative cash sometimes. This means their going short, which means
they're big on market timing, which means one bad move could lose you a lot of money in not time, that won't magically grow back.
Their money management system only uses their mutual funds.
