Eric Balchunas: I'm always interested in chatting with stock investors and getting their opinion on whether they like picking stocks or they just stick with index funds. John Vogel would say you should invest 100% of your money in index funds, but Eric says that's not for him because he doesn't find it enjoyable to pick stocks. Charlie Munger has a very different approach which is more bullish on indexing than Warren Buffett who prefers individual stocks. The two approaches have been informed by the fact that we're all bad at picking stocks according to studies.

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