As part of my econ degree, we did the math where you pick 20-30 stocks and bonds, toss 30 years of their returns into a matrix, sacrifice a falafel, and figure out the optimal portfolio.

The day we turned in the projects (it was too much math, but like I got the computer to do the linear algebra for me so it only took like 15 minutes. I think it was supposed to take a month or something but I needed enchiladas) we watched a 60 minutes or some other news clip abouta group of economists and a group of stock brokers having an investment competition. They would reach start with 10k of fake seed money, and they'd invest in a fake stock market. Whichever group had the higher average earnings/lowest loss at the end of I don't remember got bragging rights. The stock brokers all day traded, the economists all bought index funds and never touched their investments again. There were a few brokers who had huge earnings, but most of them lost big. All the economists had modest gains. Most of the brokers lost everything. The economists won. Which of course, he wouldn't have shown it to us, the economics department, if they'd lost.