Indexing Is Not Going to Go Away, Is It?

I'd like to continue going for another 90 minutes. What is it that you know about investing today that you wish you knew when you started in 1951? I was on the Welling and Fund Investment Committee, and I saw how hard it was to beat the market. This is a very, very hard business, this business of investment management. In the long run, we're all average,. We're below average, as my thesis suggested below the market averages. And so don't think it's easy. Don't think you're smarter than anybody else. Just get in the middle, get costs out, and don't peak.