because market timing is for fools
Obviously 'winner picking' is just wild guessing. I'd be willing to say it's totally along the same lines as market timing (meaning foolish and misguided), but it's not actually 'timing the market'.
Maybe just semantics, but I don't think so.
And yeah, last I saw, Alphabet overtook Apple for the top slot -so a good example of how winners change. But Exxon's drop from the top slot is probably a far better example of how even the most profitable industry can be turned upside-down.
My biggest fear is AI, VR, Robotics, MakerBots, etc. putting
all the current winners out of business, and the new winners not even being in the stock market to take their place.
When every company looks like a dying newspaper, and the future runs on bitcoin and pirated data files of literally everything under the sun.
Hopefully it'll be a slow, soft crash turning Earth into a Star Trekian utopia of abundance. But in a world of 'assassination-worthy cartoons' and the possible future leader of the free world 'smack talking' the rest of the planet, I don't see that being real likely.