There are plenty of studies that make it clear just how good J Random Schmoe's odds are of succeeding. (They're terrible.) we should not be talking about this a

There are plenty of studies that make it clear just how good J Random Schmoe's odds are of succeeding. (They're terrible.) we should not be talking about this as if the question is still open. The time before index funds was great for bankers, for money managers, and for brokers. It was terrible for the public. E.g. https://www.umass.edu/preferen/You%20Must%20Read%20This/Barber-Odean%202011.pdf https://www.umass.edu/preferen/You%20Must%20Read%20This/Barb...