Re comparisons
If the average investor did 7.13% v the s&p market 10.65% a loss of 3.52% in the 30 yr period to Dec 31, 2021. (I don't know 30-year result for the average manager )but as per the article the average managed fund failed in a 10-year period compared to the index by about 2.10% does it still not speak well for active managers as a means to help the average investor. Though they underperformed the index they outperformed the average investor by about 40% ( -3.52 v -2.10) Though the index beats the average active manager 60% of the time it also beats the average investor, due to cognitive bias and investment behavior glitch it seems the average investor can't achieve better than the average active so he should still consider active as part of the portfolio. Another way of saying it is -other than the index what percentage of active managers outperformed the average investor? thanks