Efficient market theory: Passive investing beats stock market for 50 years!
The efficient market theory suggests that trying to beat the stock market is like trying to predict the movements of a drunken sailor - unpredictable and random. Instead, it's better to be a passive investor by buying a large portfolio of stocks or a stock index fund and holding onto it for the long term. This strategy has been profitable over the past 50 years, with the S&P 500 Index returning around 12% consistently.