Well, at least Dilbert’s creator, cartoonist Scott Adams, thinks that indexing makes more sense for most investors than picking individual stocks.
In characteristic overstatement, he suggested on his blog that someday it could be illegal for individuals to buy individual stocks, given the harm they might do themselves. He argued that the odds of beating the market are so slim that picking individual stocks is a form of gambling.
Not surprisingly, his musings drew critics. In a follow-up posting on the criticisms, “Warren Buffett and You”, Mr. Adams noted that some writers pointed out that Warren Buffett’s track record proves that individuals can succeed in beating the market.