>If you think you are able to pick out better fund managers, then you should be picking stocks instead. I'm not sure this is right. You wouldn't say that you s

>If you think you are able to pick out better fund managers, then you should be picking stocks instead. I'm not sure this is right. You wouldn't say that you should be designing if you think you can hire a designer. There's no reason that hiring a good fund manager is different. For what it's worth, I'm not good at picking managers or picking stocks with my own money so I choose a parsimonious approach.