Charlie Munger: Should Ordinary Investors Buy Index Funds?
Charlie Munger says an amateur investor only needs to ask two questions to decide whether index funds are right for them. First: how good am I as an investor? Is my own ability above the market average? Second: can I find an excellent fund manager? And are the managers I pick actually able to beat the market? Answer those two questions honestly, and you will know whether — as an amateur investor — you should be buying index funds. ...