Active management

Question to the masses.

I was one of those unlucky (sucker) who bought into the much hyped LSF (L1 Long Short Fund) at the float. Horrible decision in retrospect...

To finance this investment I withdrew a substantial amount of cash from a simple low cost, index style investment app called "Spaceship" which charges .1 of a percent.

The simple investment app made up of a variety of stocks (Universe Portfolio) has returned over 40% in the past 12 months.

My question is how long do you think investors will persist with active management and trying to achieve alpha?

I have always been a proponent of active investment, but every time I look at the returns of simple, low cost, index funds, I can't help but feel like a complete fool.