Welcome back to another episode of Goldman Sachs Exchanges, great investors.

I'm Raj Mahajan, head of the firm's systematic client business, and your host for today's

episode. Today I am thrilled to be speaking

with my friend David Booth, founder and chairman of Dimensional Fund Advisors. Founded in 1981,

Dimensional manages approximately $680 billion in assets and is the largest active

EDF issuer after just three years of launching its first EDF.

As we'll discuss, Dimensional is also quite different from traditional stock picking firms and instead

manages money through science-based systematic investing.

David has spent his entire career applying groundbreaking financial theory and research to the world of asset management,

and in partnership with the most preeminent academics in modern finance.

In 2008, David also made one of the largest ever gifts to the University of Chicago's

business school which now bears his name Chicago Booth. David, welcome and thank you

again for joining me today. Thanks for having me. Dave let's start with your

upbringing. You grew up in Kansas. Can you tell us about your background and some of the experiences that helped shape your approach to business?

I tell you the number one thing probably shaped my attitude about business was starting my senior year in high school in the first three years

in college.

I sold shoes.

Amazing enough.

And what it taught me, I was a commission salesman, and so he had a big incentive to try to make a sale obviously.

And I quickly realized that was all well and good.

And still at the end of the day, I wanted to go home and feel good about myself.

And that's been an attitude or a philosophy I've had and dealing with

...