For plausible definitions of "average investor" in this context, it's arithmetic...

		v-yanakiev 11 months ago \| parent \| context \| favorite \| on: Vanguard's average fee is now 0.07% after biggest-... For plausible definitions of "average investor" in this context, it's arithmetically impossible: https://web.stanford.edu/~wfsharpe/art/active/active.htm