Q: If you were starting a business today, what would it be? A: I like stock picking because it kind of reminds me of hunting and fishing. Any day you can have a new thing that might be interesting…. But I think fewer and fewer people are really needed in stock picking. Mostly it’s charlatanism to charge 3 percentage points per year or something like that to manage somebody else’s money.  Most people probably shouldn’t do anything other than have index funds…. That is a perfectly rational thing to do for somebody who just doesn’t want to think much about it and has no reason to think he has any advantage as a stock picker. Why should he try and pick his own stocks? He doesn’t design his own electric motors and his egg beater.

https://www.wsj.com/finance/investing/charlie-munger-will-take-your-questions-now-3e842ab7?st=muhp9hcorrdu095