Yes, that’s the point. People thought they could beat the market by timing buys of stocks that were likely to become part of indexes. If there was any alpha i

Yes, that’s the point. People thought they could beat the market by timing buys of stocks that were likely to become part of indexes. If there was any alpha in this practice, it’s been sucked out of the market at this point. The anticipation of this has already been priced in, so there’s no remaining advantage in trying this strategy.