That's a good way to put it. Wonder then if most fund managers fundamentally don't believe that they can beat the market. The wall street journal interviews fu

That's a good way to put it. Wonder then if most fund managers fundamentally don't believe that they can beat the market. The wall street journal interviews fund managers every year or so, and asks them, if someone gave you all their money in return for a fixed, guaranteed annual interest rate, how much would you promise them? Generally the answers are in the 1-2% range