John Templeton consistently outperformed the stock market, but he realized the difficulty in doing it, as discussed in Spiritual Investments: Wall Street Wisdom from the Career of Sir John Templeton by Gary Moore:
Outperforming the market is an ambitious goal and one that must be pursued carefully.
The challenge to outperforming the market is not simply making better investment decisions than the average investor. The real challenge is making investment decisions that are better than those of the professionals who manage the big institutions.
Remember, the unmanaged market indexes, such as Standard & Poor’s 500, don’t pay commissions to buy and sell stock. They have no need to consider the risks of investing. They don’t pay salaries to security analysts or portfolio mangers. And, unlike the unmanaged indexes, investment companies are never 100% invested because they need to have cash on hand to redeem shares.
So, any investment company that consistently outperforms the market is actually doing a much better job than you might think. And if it does so by a significant degree, it is doing a superb job.