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Strategies & Market Trends : Value Investing
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To: Michael Burry who wrote (4767)8/22/1998 3:49:00 PM
From: Paul Senior  Read Replies (3) of 78612
 
Sorry, but I don't understand what you are saying. I have no argument that index funds are an efficient use of funds -- that is --efficient in that they require less time than individual stock selection. Also I will give the point that they have been in general, for most everyone, a higher return provider than a portfolio selected by individual investors. Being in an index fund I would think mirrors the market, not beats it. Therefore, anyone going into such a fund can only beat those many of us who pick our own stocks (including most fund managers). Which is fine. For me, I'd rather pick my own stocks to reach my goals. In either case, the goal is not to beat the market. I'm saying having a stated goal to beat the market is spurious-not relevant for investment success if one is trying to build financial security. (Unless one is trying to achieve billionnaire status, or wanting to retire in 5 years but only starting to invest now with 10k, or has such other extreme goals) Paul.

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