The great debate continues: Indexing yes or no?

You can't beat the low costs of index funds, but you can beat their performance....if you're lucky and pick the right funds. Index funds simply aim to replicate the performance of a particular index, such as the Standard & Poor's 500 Index. When the index goes up, so do they. And when it goes down...well, that's the problem. Many investors are convinced they can beat the indexes if they choose the right active money manager, so they keep trying. That's the triumph of hope over experience, Vanguard Funds founder Jack Bogle, the father of index investing, once told me in an interview.

St. Petersburg Times readers include investors on both sides of the fence, avid indexers and proponents of active management. Here's what some of them had to say.

My column today is about a very active approach to investing--trying to pick the hot IPOs (initial public offerings). Scott Sweet of Lutz has been doing it for 25 years and now runs IPO Boutique.