I've been reading a bit about behavioural finance. I'm time poor and as a result probably not as good a share investor as I thought I was... I'm thinking that perhaps I should adopt an approach of directly trying to replicate the majority of an index (say ASX20, 50 or 200) and then as share growth increases, try to lock it in with some form of index put? I appreciate there will be an asymmetry between the long and short position but I think that with a bit of common sense and a dash of luck you can outperform even a low fee index fund due to the tracking error. By buying some or all of the ASX20 you could cover off a significant % of the ASX 200. Or should I just throw up my hands and park it all in funds to get a mix of beta and alpha and forget about it... Thoughts?