One of my favorite fables of investing: The Tortoise and the Hare. This was Warren Buffet's wager that simple, low-cost index funds will outperform expensive, risky hedge funds over 10 years. This wager is proof that hedge fund investors, with all their wealthy elitism, do not triumph over financial literacy which is accessible to all, thanks to index fund pioneers like Jack Bogle.
The funniest part of the story (which isn't detailed here) is that Buffet initially could not find any hedge fund manager willing to take his wager.
https://www.investopedia.com/articles/investing/030916/buffetts-bet-hedge-funds-year-eight-brka-brkb.asp