Funny how we believe that there's the "magic" fund that will beat the market. Endless academic research tells us otherwise. As this research from Vanguard concludes, "Indeed, only 6% of the initial 1,540 funds survived, outperformed, and avoided three consecutive years of underperformance". How likely is any investor to find the magic 6%? Investors who build a massively diversified portfolio using market-based (passive) funds and hold that portfolio for years if not decades are far more likely to reach their goals than those in search of the "magic" 6%.