This Strategy Beat the World’s Top Hedge Funds—Don’t Try It

Please don’t feed or throw objects at the fund managers.

David Einhorn and Stanley Druckenmiller, both scheduled speakers at Tuesday’s Sohn Investment Conference, each have earned billions of dollars through investing. Heard on the Street’s columnists are paid peanuts by comparison, but that didn’t stop us from making monkeys out of the conference’s hedge-fund luminaries five years ago. Inspired by Prof. Burton Malkiel’s book “A Random Walk Down Wall Street” in which he quipped that “a blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by the experts,” our dart-picked stocks beat the Sohn Conference’s picks by a bruising 22 percentage points.