Panskeptic

Buffett's Advice to the Berkshire Faithful: Buy Index Funds

What's the problem here?

Certain gifted money managers have beat the market year after year for decades because they're good at it. By the time they get quoted regularly in the financial press, it's usually too late to buy in. Statistically, your brother in law is not likely to be Buffett/Soros/Rogers/T... Jones/Robertson etc.

Most of us do not have the gift of beating the indexes most years for a 30-50 year period, though some of us read and chart and sweat and swear and pretend to our friends that we have it too. Under those circumstances, it makes perfect sense to buy a clutch of Bogle's dead fish and hope that life doesn't hurt you too bad.

Or if you want to do it the hard way, and it's your money, and there's enough time, and not too many other people are dependent on your results, go for it. There are many roads to Heaven.