Is Active Investing the Strangest Profession?

The average active mutual fund earns 1% less than what you could have earned putting your money into index funds at no cost. We're paying these people millions of dollars to basically underperform what we could have done ourselves with no cost at all. Greed is just universal. In fact, I think that being smart actually magnifies your greed because you're now looking at alternatives or options that other people did not look at and said, there must be a pocket of the market that we can exploit.

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