I’ve posted Entry #67 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called It’s Arrogance to Think You Cannot Beat the Market.
Juicy Excerpt: The market is us. When we say that it’s not possible to beat the market, we are saying that it is not possible to beat us. We are so gosh-darned smart that no one can ever think it possible to pull one over on us. We are the market and we are always right.
That’s a shocking and repulsive arrogance.