Um, evidence? It does not look to me like that, so where's the data?
Who do you think consistently does well, and what data do you use to support that view? That'll help me determine if I have evidence you'll find convincing.
They don't get "average" return on capital in any meaningful sense of the word "average"
Similarly, what does "average" mean to you?
Given this I am not sure why do you think they consistently do well -- this seems to contradict your acceptance of EMH earlier.
The EMH has holes; Buffet has famously outperformed the market and index funds by dint of superior rationality, but most people are not qualified to judge which money managers are rational enough to be better than index funds.
I don't have a good explanation for why value investing works. The most charitable and plausible one I know is "most investors look for short-term mispricings instead of long-term mispricings, and so there are more opportunities where less people are looking."
Who do you think consistently does well, and what data do you use to support that view?
I don't know. I am not even sure what is the classification you have in mind when you ask this question -- are you talking about what kind of people do well? What kind of investment strategies? Are you talking about US or the whole world? Do you have in mind the last 20 years or the last 200 years?
what does "average" mean to you?
An arithmetic mean. Is this a trick question?
...Buffet has famously outperformed the market and index funds by dint of superior
P/S/A: There are single sentences which can create life-changing amounts of difference.