The main advantages of index funds is (a) low costs (b) removing or limiting poor emotional reactions to market gyrations. I've been investing for 15 years, and have read probably 25+ books on behavioral finance and I still make the same mistakes that they warn you about (doubling down, anchoring on a high price, etc).
Joel Greenblatt, one of the greatest investors of this generation, also highlighted the issue with market-weighted indexes. His solution: equal weighted.
Joel Greenblatt, one of the greatest investors of this generation, also highlighted the issue with market-weighted indexes. His solution: equal weighted.