Managed funds are astonishingly tax-inefficient.
Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.
Don't look for the needle in the haystack. Just buy the haystack!
On balance, the financial system subracts value from society
Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.
If your fund doesn't last for the long term, how can you invest for the long term?