Some people are making a lot of money in the City of London and elsewhere by proactively managing investment funds (such as pensions) and charging a fee for their expertise? Are they worth it: the evidence doesn’t seem to be very clear.
I am reminded of this by the consistent failure of my efforts to manage my fantasy football team – looking out repeatedly for the bargain buys and the clever ways to game the system. And failing.
Someone should actually take the data and calculate whether a managed strategy – actively looking for hidden gems (perhaps by averaging the performance of the teams that most regularly transfer players), or simply algorithmically picking the best available team at the start of the season (based on the previous year’s performance) and leaving it be, would give the better results.