Question: [Related to Solved Problem 6.3] An article in the Wall Street Journal noted that in 2019, for the first time. the total value of stocks

[Related to Solved Problem 6.3] An article in the Wall Street

[Related to Solved Problem 6.3] An article in the Wall Street Journal noted that in 2019, for the first time. the total value of stocks held by index funds was greater than the total value of stocks held by actively managed funds. The article observed, "The challenge to traditional stock pickers began more than four decades ago with Vanguard founder Jack Bogle's introduction of the first index mutual fund for ordinary investors in 1976." What does the article mean by "traditional stock pickers"? The article is referring to those who buy particular stocks rather than index funds non-professional investors that participate in the market

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