[internetslave]

This is false. If you work in the industry there are consistent winners.

[JKCalhoun]

And, as I understand from Bogle's (admittedly dated) book, when that happens everyone rushes into the fund and it begins to underperform due to its increased weight/influence (see Peter Lynch's Magellan Fund).

[internetslave]

No. Some portfolio managers are just good. This whole no one can beat the market is non sense.