Data has shown that most investors (professional or not) do not beat the market and it also means that the simple act of buying an index ETF would do better than majority of the investors. Why then, do we still have many individuals picking their own stocks? Here’s my attempt to answer this question.

(This is an opinion piece and was first posted in our closed Facebook group. Selected pieces are shared on our blog, join us for more)

1. Investing is an intellectual challenge for some people.

They love to put their analyses to the test in the real world and see if they can crack the code of the markets. The satisfaction of getting the investment theses right may even outweigh the amount of money made. There’s no challenge if they just buy ETFs.

2. Investing can be a hobby.

Just like some people learn to cook and although they may not cook...