No one claimed superior to anyone else, the recorded stats of many decades of performance is there for all to see most fund manager cant beat the index over a long term horizon that is a fact, not opinion or claimed of superiority.
Market may not be efficient short term but it is efficient over a longer time frame and hence it beat most fund manager. manager has a short term windows to identifies inefficiency and this process is not bullet proof as they are made with human emotions, attachment and biases and as you can see plenty of them made some fatal mistakes be it staying in China or not exposure to resources or tech and hundred of other reasons.
MFG Price at posting:
$14.01 Sentiment: None Disclosure: Not Held
(20min delay)