At the University of Kansas, Booth earned his B.A. in economics and M.S. in business. He went to receive his MBA from University of Chicago Graduate School of Business, where he became the teaching assistant for future Nobel Laureate Eugene Fama.
Based on the academic work of his professors at Chicago, Booth set up DFA. It has been called “applied think tank from the University of Chicago.” Initially, the firm had a small capitalization tilt; it subsequently added a value “dimension.” As of 2015, there are 4 separate dimensions that have led DFA to outperforming 80 percent of its peers over the pat 5 years. DFA now manages over $400 billion dollars.
Booth described his time at Chicago as “life changing.” He eventually made the largest gift in the school’s history to the graduate business program, now known as University of Chicago Booth School of Business.