On the one hand, it seems reasonable that you could do better than average by doing some value investing. On the other hand, if you had done that, you'd have mi

On the one hand, it seems reasonable that you could do better than average by doing some value investing. On the other hand, if you had done that, you'd have missed out on the big gains in Gamestop and AMC. Would you do better by constructing a portfolio that excludes them, now we know they're meme stocks? Maybe, but they're not that big, so any gains you get by excluding them are going to be minimal. And now they have enough money to diversify and perhaps turn things around and justify their value. Better to just buy the index.