[kolbe]

>index funds beat active fund management constantly over longer periods

This was only the case because 'long periods' include the periods in which free riders (indexes) were small relative to the active and activist shareholders.

[nabla9]

This is still the case and nothing indicates that things have changed.

Index funds have two main benefits:

* Lower cost,

* Never miss a new trend. At any moment only handful of stocks are responsible for disproportionate growth and index funds catch them all.