This is also moving the goal post. You don't need to hit 40% net IRR every year to outperform the market. Plenty of firms have outperformed the market since inception, including every one listed above lol.

Also, Steve Cohen is a super weird example given Point72's terrible recent performance and the fact that they could not take outside money for 2 years due to SAC Capital's insider trading settlement. Last time I checked, they were down $500 million bailing out Melvin Capital. If we want to say "Even X person has limits", Steve Cohen would not be the person I reference lol.

But honestly, if you want to index, you should index. No one's mind will be changed on this forum and everyone is colored by the bias of their own experience. I don't think I will ever be convinced that index investing is correct because there is so much initial, explosive growth that cannot be captured in any ETF or mutual fund.

The beautiful thing about this discussion is that we (and those around us) are the only people that need to live with the consequences of our financial decision, for better or for worse. And I sincerely think this is why the ultra rich keep getting disproportionately richer.