"The evidence is overwhelming. Year after year, actively managed mutual funds fail to beat index funds. Studies have born this out repeatedly over various periods in bull and bear markets"
The quote is from the April 23, 2013 PBS Frontline documentary on the 401K industry, link below:
http://www.pbs.org/wgbh/pages/frontline/retirement-gamble/
It is one hour and it is excellent - especially the last 1/2 hour which focuses on fees and index funds.
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