Of that group, just 11—or 22%—have outperformed the overall market since then. That's no better than the percentage that applies to all advisers, regardless of past performance. Over the past year, on average, the group has lagged the Wilshire index by 6.2 percentage points.
In other words, going with a recent market beater doesn't increase your odds of future success.
--Mark Hulbert, WSJ, on another reason to invest in index funds