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This comment, golden!

There's a research in the finance world on this topic that says picking stocks by throwing dart works better than a managed mutual fund, for instance.

Here's the article on that topic which I thought was interesting.

And a small video of a debate on the topic with someone who followed that practice.

Some investor did try to test this theory. They built 3 portfolios of 10 stocks each in various indexes in India and weren't too impressed with the outcome.