My point is that while Wall Street may have figured out index funds better than it used to - it is nowhere near as "figured" out as that of manipulating individ

My point is that while Wall Street may have figured out index funds better than it used to - it is nowhere near as "figured" out as that of manipulating individual stocks. As the paper points out - holding individual stocks is far riskier and inefficient than that of holding an index stock. Hence my point that while you may have different motivations for writing your piece - in the end, you are advocating for a worse potential outcome for most people. Wall Street would love nothing better than have many people play the stockmarket and try to outsmart the index funds.