Assemble an all-star team instead

The magic ingredient turns out to be…wait for it…patience.

The nation's largest pension fund and the most influential fund rater are both signaling that stock picking is dying as an investment strategy. If you're still trying to beat the market, it may be time to reconsider.

As index funds are sopping up the world's investment dollars, an argument is emerging that this will eventually tip the scales back in favor of active managers. Don't worry just yet.

The numbers say that cheap index funds are your best bet. So why are people still willing to pay fund managers so much?