ANTE
AirNet Technology Inc.
stock NASDAQ

Yes, but the argument is simple. and does not need more then a simple argument based on a common agreeable idea... "Not all active investors can outperform the market for a long period of time". It simply is not possible. So for everyday investor WHO CARES if Lynch, Greenblatt, so and so did it.
The question is, "Can you spot the NEXT person EX ANTE who can do it over their investing lifetime post fees, taxes, and inflation over the default option (passive index investing)?"
Bogle did an analysis of active funds going against his now VFINX since its inception (1976 or so) to about 25 years later. So, REAL time forward returns. He compared it to EVERY single large cap active fund over that time period that existed (taking survivorship bias out). The was something like <1% of ALL those funds beat his simple VFINX by more then a conservative 1-2%/ year to cover the friction of active management.
The above only makes sense... Bessbinder in his famous publication a few years ago found ONLY 4% of ALL stocks were responsible for ALL the return of the market since 1926 over treasuries. So yeah asking a active management to find those 4% of stocks AND know when to get in and out along with the market gyrations is asking A LOT.
Really shocking folks nowadays could expect active management to work considering history has shown it NOT to work when information and technology was less available. T

Yes, but the argument is simple. and does not need more then a simple argument based on a common agreeable idea... "Not all active investors can outperform the market for a long period of time". It simply is not possible. So for everyday investor WHO CARES if Lynch, Greenblatt, so and so did it.
The question is, "Can you spot the NEXT person EX ANTE who can do it over their investing lifetime post fees, taxes, and inflation over the default option (passive index investing)?"
Bogle did an analysis of active funds going against his now VFINX since its inception (1976 or so) to about 25 years later. So, REAL time forward returns. He compared it to EVERY single large cap active fund over that time period that existed (taking survivorship bias out). The was something like <1% of ALL those funds beat his simple VFINX by more then a conservative 1-2%/ year to cover the friction of active management.
The above only makes sense... Bessbinder in his famous publication a few years ago found ONLY 4% of ALL stocks were responsible for ALL the return of the market since 1926 over treasuries. So yeah asking a active management to find those 4% of stocks AND know when to get in and out along with the market gyrations is asking A LOT.
Really shocking folks nowadays could expect active management to work considering history has shown it NOT to work when information and technology was less available. T