Since I tend to be a long-term buy-and-hold value investor, I'm a little surprised by how well I've done in CAPS over the short-term with (for me) frequent trading and a smattering of high-risk growth stocks thrown in. I figured I would do well over five years or so, hopefully I won't be wrong about that also!
I have learned why I don't short stocks in real life. Even picking "underperforms" in CAPS makes me nervous and I tend to get rid of them as soon as they drop 5%. They just make me uneasy, even though many CAPS players ride to high scores by "shorting" one-star micro-caps. Since I'm a buy-and-hold guy, shorting doesn't make sense for me or fit my psychology.
I've sold some other stocks just because I bought them on a whim and decided to dump them in favor of better choices later. I'm trying to keep my portfolio to around 75 total picks; otherwise I would load up on stocks in my favorite categories (energy, financial mgt, etc).
I comment on every pick so I can remember later why I picked it!