[jjeaff]

funny thing is, it was probably about 10 years ago or more that he made a bet that no active manager could beat the market.

[RishitJain]

And he won that bet.

[jjeaff]

Yep. And I should clarify, in case anyone does some checking. He didn't bet that NO active managers would beat the market. Just that no one could pick which active managers would beat the market but it will be random, and inconsistent.