Investing - Theory, News & General • This is a stock picker's market

I have been hearing this statement consistently in the financial media for at least 20 years, how today's particular market is perfectly aligned to reward active management over broadly based cheap index funds. It is always a stock picker's market at the present time in contrast to the past where this may not have been the case. When backtesting shows that cheap indexes outperformed on average the stock pickers, there is never a retraction of past claims. Instead, demonstrable past failure is ignored and a