If you’re not good at something, the smart thing to do is go find a professional. If you're sick and don't know what you have, you go to a doctor. If the wiring in your house has a short circuit, you call an electrician. But does this approach work in investing?
Probably not. Doctors and electricians have to prove their skill and training to get certified. Money managers don’t. For almost two decades now, the average hedge fund has delivered a lackluster return. Actively managed mutual funds generally fail to beat the market after fees, either in a given year or over time. Although most fund managers do have skill, and could generally beat the market trading on their own, the fees they charge more than cancel out their investing edge.
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