zero sum game

Why should a well educated and hardworking fund manager not be able to beat the market? After all he and his team invest hundreds of hours to search, calculate and analyze companies and their prospect for the future, their true worth, expected dividends and so on...No one can say they aren’t trying hard enough.

But there is a catch, a fundamental flaw so basic, that it is easily overlooked:

We are the market!

We, everyone investing in a market is, by simply participating in this market, a part of the market itself.
So all the fund managers, directors and boards of pension plans, all the insurance companies, the small time investors and the day traders, everyone together is “making” the value of the market.
That means there can be now "winner" against the market, without someone else marking the "looser".
It all has to level out in the end; it's a zero sum game. Before costs of course, and once you figure in the cost of investing, be it with an active fund manager or a passive instrument, matching the market becomes a winners game all over sudden.