Benjamin Felix

But they've got tons of these different essays over the many, many years that they've been doing this.

And it's a wealth of incredible analysis and information.

They've also got a very famous book called Triumph of the Optimists, which we also discussed.

That book was the culmination of their work using historical data to reconstruct indexes for a whole bunch of different countries.

And we talked about this during the conversation too.

It really changed our knowledge of what is the equity risk premium?

How much should you expect in stock returns relative to bond returns, which prior to their work had been heavily influenced by the US historical record, which we all know has been

incredible, exceptional.

And so their expansion to international markets really gave us more knowledge about what it might be reasonable to expect as an equity risk premium going forward, which was great.

We're super fortunate and grateful to be able to talk to Elroy.

We talked for about 90 minutes.

Braden, any comments?

What'd you think of the conversation?

He's got his academic experience, but he's also done lots of interesting investment committee work, including with Norway's Sovereign Wealth Fund.

It's the biggest single investor in the world.

And he helps to form their whole setup and investment policies and all that kind of stuff.

He's not just an academic, he's got real world experience dealing with people.

And he talks about some of those types of issues during our conversation, people in committees and just making like real investment decisions.

An incredible wealth of wisdom that comes from both tons of time with the data and doing analysis, but also tons of time working with real humans, trying to make investment decisions based on the data and other inputs.

That's a good introduction for Professor Elroy Dimson.