The pitch will go something like this: ‘We have 25 North American companies that we really like’.

Immediately as a reader I’m thankful that they didn’t include the companies they don’t like – good so far!

Picking ’25 North American companies that we really like’ comes with the baggage of that we discussed Monday about how at the mutual fund and pension level (people with the sole responsibility to select investments show dismal results – more here) and yesterday (how timing the markets and ‘tactical’ investing does not live up to the hype - more here) in terms of there being little to no demonstrative ability shown by stock pickers to beat the market either by security selection or tactical shifts – but I digress.

Why 25 companies – does it seem arbitrary? It is! Read more here.