Well, fancy that!

Between 1993 and 1998, the stock portfolio of the average household gained, on average, 1.4% less than the market as a whole. That is, most people’s portfolios grew by a bit less than (say) the SP 500. Corporate insiders did better, managing to get gains of 5% above the market average. Regular stockbrokers without inside knowledge are lucky to match the market; only about quarter of managed funds beat index funds.