Zero to One: Notes on Startups, or How to Build the Future · chapter 1 · id zero-to-one-c1-06-thiel-implies-index-fund-inves
“Thiel implies index fund investing is 'lazy' and reflects indefinite thinking -- just spreading money across the market without a definite plan.”
CONTESTEDconfidence: high⚠ extracted by pipeline, re-audit pending
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S&P SPIVA Scorecard (2024)paywalled · manual check queued
Over 15 years, 90%+ of actively managed US equity funds underperformed the S&P 500. Across all fund categories, passive indexing dominates.
AEI -- More Evidence It's Hard to Beat the Marketsource alive
95% of professional fund managers cannot consistently beat the market over 20-year periods. Warren Buffett's $1M bet on index funds against hedge funds was settled in his favor.
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