在市场面前，大部分机构就是大散户大韭菜

Consider the nearly 3,900 actively managed U.S. equity mutual funds and exchange-traded funds tracked by investment researcher Morningstar. In calendar 2024, just 13.2% of these investments beat the S&P 500 SPX. Their average gain was 13.5%, barely half the 25% return of the S&P 500.

Most mutual funds don't beat the market - but what's 'the market' anyway? | Morningstar