Index Funds vs. Stock Picking: The Math No One Wants to Hear

S&P SPIVA data has been telling the same story for two decades: over a 15-year window, roughly 90% of active US large-cap funds trail their benchmark. The other 10% are not easy to identify in advance.

Stock picking isn't immoral; it's just expensive entertainment for most people. If you must scratch the itch, do it with a small 'fun money' sleeve and benchmark yourself honestly.