A CFA commenting on the "self-serving" words of Buffet. Interesting.

Plenty of research out there confirms that, over a long enough timeline (which is key), most active investor rabbits will lose to the passive turtles who simply max their TFSA every January 1, put it in a low-fee index-linked ETF, and forget about it.

Then do the same thing a year later.
The main reason is that turtles understand the enormously underrated psychological element of investing. So they avoid it entirely and just go play golf instead. The active egomaniacs who think they can outsmart the market may have moments of brilliance but they'll eventually give it all back (and more) in the long run.