Person 1: I learnt that investing in security markets is a zero-sum game. Profound!
Person 2: Yes, for the group of investors who perform better than the average, another group exist who perform worse than the average.
Person 1: Makes sense.
Person 2: Actually, if you consider the fund management fees and the other costs, investing in securities is a negative-sum game.
Person 1: True! Mmore the reason to be realistic about returns, and keep the costs low.