For decades legendary investor Warren Buffett has advised people not to attempt to outperform the stock market, suggesting that most people should instead invest in a low-cost S&P 500 index fund rather than trying to select winning stocks or forecast market movements. The retired chairman and CEO of Berkshire Hathaway has for a long time maintained that average investors do not require complicated strategies if they want to build up their wealth over time.
As he explained in his 2017 letter to shareholders, Buffett's usual recommendation was to invest in a low-cost S&P 500 index fund. "My regular recommendation has been a low-cost S&P 500 index fund," Buffett wrote in his 2017 letter to shareholders.
