THIS MORNING, The Business Times published its own stock picks for 2014 -- with a big difference.The stocks were randomly selected!
"What we actually did was to get a list from the Bloomberg machine of the 781 Singapore-traded stocks in its database, and used Excel to randomly select 10 stocks from that list," wrote journalist Cai Haoxiang.
The rationale?
The article explained: "This is, firstly, an experiment, though not a very rigorous one.
"Some people think the stock market is nothing more than a lottery. Others theorise that in an alternate universe where a group of monkeys has an infinite amount of time to hit keys on a typewriter, one particularly literary monkey will accidentally type out the complete works of William Shakespeare.
"Perhaps a collection of 10 random stocks will similarly have a chance of making money. Perhaps our fund will fall flat on its face.
"But given that a significant number of funds out in the market actually don't beat benchmark returns and just live off management fees, we thought it interesting to pit our imaginary horde of monkeys against the bevy of bespoke fund managers out there."To view the BT stock picks and their financial indicators, click here.
Related story: Joseph Yeo: My 5 small-cap picks for 1Q
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