Person 1: Picking market-beating stocks?
Person 2: Hard!
Person 1: Picking the people who can pick market-beating stocks?…that is, picking super-star fund managers.
Person 2: Harder!
Person 1: Picking funds that can pick people who can pick market-beating stocks?…that is, picking a funds that imitate specific super-star fund managers!
Person 2: Much more harder!
Person 1: Then… what should I do?
Person 2: Opt for a low-cost, highly diversified portfolio across various asset classes. Long-term passive investment.