Yet suppose one really only had 10-12 ways to make money in one's lifetime. Clearly, then, it would pay to get really good at the best of those one could take in and just stick with them. In sports, after all, we do not run a little one day, play golf a short time the next, throw a baseball for awhile the next, spar a few punches of boxing the next, etc. We note, sooner or later, that we have some ability at golf, tennis, soccer, football, swimming (my favorite when younger), basketball, or whatever it is, then concentrate mostly on that, perhaps engaging in just a few other athletic pastimes to vary things, but never giving up the true focus.
By such reasoning, personally I have come to accept that investing in low price to book value assets works best for me. Yet there are a handful of other techniques that enhance investment returns while lowering overall risk. Combining them, an effective risk-adjusted portfolio is made possible, one that should do relatively well come bull or bear markets. It may not always exceed the averages, but it should have less downside than the indexes when things go sour for most investors. Thereby, it succeeds as does a marathon competitor, not a sprinter.