I'm as big a boglehead as there is. Nevertheless, imagine you're the only person in the world not indexing. It's going to be quite easy to beat the market. Ever

I'm as big a boglehead as there is. Nevertheless, imagine you're the only person in the world not indexing. It's going to be quite easy to beat the market. Everyone else in existence is using market cap as the sole criterion for determining where to put their money. In this case all the other indicators for success are being ignored and not priced into the current price of the stock. In other words, if the whole world indexes the market becomes very inefficient.