Minuto 15:48:
— Forbes: What’s an individual investor to do?
— Pabrai: Well, the best think for an individual investor to do is to invest in index funds…
… 80% to 90% to active managers underperform the indexes. But even the 10% or 20% who do, only one in 200 managers outperforms the index consistently by more than 3% a year. So the chances that an individual investor will find someone who beat the index by more than 3% a year is less than one percent. It’s a half percent. So it’s not worth playing the game.
