Buy&Hold: Smarter than the average bull.
I joined in Smart Money's little stock market game that just ended after a five week run. You only got to pick from 40 stocks, most of which I'd never heard of. From the 18 whose names I recognized ("'Crocs,' don't they make shoes or something?") I picked 8 that sounded good (no research).
You were allowed to switch stocks regularly but I decided to see how a buy-and-hold strategy would fare (if you dare call five weeks a "hold"!). I made my picks and walked away. I knew I wouldn't win, some active traders would get lucky, just like if enough people roll dice 35 times, someone is going to roll higher than average scores, but I couldn't win that type of game anyway.
Results? I finished 110th out of nearly 1800 players with 195 points (the winner had 283), top 8% or so. It wasn't quite the blind-folded monkey strategy, but close.
Umm, gee... I wonder if there is a lesson in here somewhere?