Except 'everyone' is not Warren Buffet and that is my point. He is able to hold meetings and interpret signals that the regular public simply can't do. He has

Except 'everyone' is not Warren Buffet and that is my point. He is able to hold meetings and interpret signals that the regular public simply can't do. He has access to go anwhere and see anything. Even if what he sees is 'public' it is still very helpful in determining whether an investment makes sense. He can feel the tempo and he can sense things (or the people he dispatches same point if they have access). I will give a very small example to illustrate my point. Years ago I was looking at buying a small business. I was there for about 2 hours. I noticed that the phone did not ring one time in the 2 hours. Let's assume for the sake of the story that the phone ringing was not super indicative of anything (with this business I mean it wasn't a Pizza takeout place) but somewhat meaningful. They didn't have to reveal anything secret at all for me to take that info into consideration. The problem with an index fund is that since it isn't a gamble you will never win big!