The Wall St. Journal's Dartboard column invites four or five investment analysts to pick their favorite stocks for purchase.

Simultaneously, they pick four or five other stocks by throwing darts at the financial pages. The editors then follow the analysts' stocks, and the "dartboard" stocks and report the returns from both. The dartboard portfolio generally beats the pros. Does the dartboard thrower have superior stock-picking ability? No, it's just that dumb luck produces success. The old saying "I'd rather be luckythan smart" applies here.

But the harder you work, the "luckier" you get.