when comparing individual portfolio returns against a benchmark...

when comparing individual portfolio returns against a benchmark also subtract from your portfolio returns (1) the tax deductible cost of your investment subscriptions (2) the additional accounting fees (3) additional tax you may have paid on realised capital gains (4) the stress of poor share selection

my theory is it's a lot harder to beat the index over a long period especially after taking into account the hidden expenses in 90% of cases is the financially responsible thing to do is to just buy the index?

it has many faults but after costs does it tends does it do just as well? our subscriptions pay for the wages, if my wage depended on my returns you can guarantee l'd rubbish the index.

my worst nightmare would be for people to just buy the index because it's less stress and solid returns.