A winning investment strategy? One student in the class of Exercise 19 claims to have found a winning strategy. He watches a cable news show about investing and during the show throws his darts at the pages of the Journal. He claims that of 200 stocks picked in this manner, 58% were winners.
a) What do you think of his claim? Explain.
b) If there are 100 students in the class, are you surprised that one was this successful? Explain.