Though some academics are challenging the conventional consensus that active management is not worth it: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=32

Though some academics are challenging the conventional consensus that active management is not worth it: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3247356 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3247356 Also, I'd like to note, it probably depends on the maturity of the market you're looking it. It will probably be harder to beat passive investing in US fixed income than frontier economies equities. Edit to add: A few big & cheap index funds and a couple of rock star active managers sounds good to me, actually.