No. of Recommendations: 7
Well, yes. I don't see much value in the collective wisdom of SPY.
I've long wondered about this. The S&P500 index is created by a group of people, they choose which stocks are in and which are out, and when that happens. So it shouldn't behave much differently than any managed fund.
Yet somehow, the S&P500 outperforms 95+% of all managed funds in the medium term, and outperforms 99++% of all managed funds in the long term. As far as I can recall, in the long term there are only 4 or 5 fund managers that have ever beaten it throughout its entire history.
