CNBC's Jim Cramer may be a big fan of index funds — one of his best-known mantras is that investors should have $10,000 in an index fund before they start stock-picking — but he doesn't think they should control the entire market.
Yet the "Mad Money" host has watch the power of the major averages grow as individual companies fade into the background of the bull market.
"Even as recently as a few years ago, individual stocks mattered: a bad quarter from a big-name company could hurt the whole market. Now it doesn't even seem to create a ripple in its own sector, at least not if the group has some momentum," Cramer said.
So Cramer decided to push back after interviewing Domino's Pizza CEO Patrick Doyle, one of the market's most trusted executives that announced his departure from the company on Tuesday.
Investors would have earned much more if they had chosen the stock of Domino's over the averages; since Doyle became CEO in 2010, it has gone from $10 a share to just over $200.
"The next time someone tells you that active money management is strictly for boneheads and anyone with a brain puts all of their money in index funds, ... I want you to remember the story we heard from Domino's Pizza earlier in tonight's show. That stock has gone from $10 to $200 because of one person," Cramer said. "I want you to try getting that kind of win from an index fund. I dare you."