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The Rational Reminder Podcast · 2026-05-07 · 74 min · 11,636 words

Episode 408: Elroy Dimson – Investing & Optimism

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This is the Rational Reminder Podcast, a weekly reality check on sensible investing and financial decision-making from two Canadians. We're hosted by me, Benjamin Felix, Chief Investment Officer, and Braden Warwick, financial planning product architect at PWL Capital. Welcome to episode 408. I love the conversation that we just had, Braden, and it's an episode that I have wanted to do for a long time. Professor Elroy Dimpson is a busy man.

I was on another podcast in the UK and that person, Damien, is the Damien Talks Money podcast, has a relationship with Elroy, and so he made an introduction which finally got the connection made. We would have done this one sooner, if we could have. I guess is the point of my long preamble, but I'm super excited that we got to talk to Elroy Dimson. He is Professor of Finance and Research Director at Cambridge Judge Business School and bifellow of Gonville and Caius College, Cambridge. He is also Emeritus Professor of Finance at London Business School.

Listeners will likely know his name, Elroy Dimpson, which is the D in the DMS data, which we've talked about many times because we use it a lot in our own research at PWL. We also did an episode, I can't remember the episode number, but we did an episode a while ago, something like lessons from 100 years of stock returns or something, where we went through a bunch of their past reports. They do something called the Global Investment Returns yearbook that they've been publishing for many, many years now. Right now it's sponsored by UBS. Formerly it was sponsored by Credit Suisse, but it's this just incredible book that they publish annually that details stock, bond, and bill returns for a whole bunch of countries all around the world.

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