It's hard to find a good small-cap index that's representative of the asset class. International indexes very often have more serious problems. Very few people would be willing to put that much of their assets in one company. Five years ago, I said the Vanguard 500 Index Fund would be the largest fund in America by the end of the millennium. I don't have any trouble thinking that will come true.
Investment management is a rare skill, refined over time.
Some money managers, over longer periods, have beaten the market by quite a lot. There's no guarantee they will do it in the future, but that's the way to bet. The McGraw-Hill Companies Inc. All rights reserved.