15 Feb 2017 Stock pickers beware: Charlie Munger thinks you're in big trouble ( Portfolio )

"It's a huge problem, and it makes your generation of money managers have way more difficulties and causes a lot of worry and fretfulness, and I think the people who are worried and fretful are absolutely right," he said. "I would hate to manage a trillion dollars in the big stocks and try to beat the indexes. I don't think I could do it."