This is the right strategy (IMO) not only because of near and long-term returns, but because it produces a better mentality. Trend or fad chasing may also produce substantial returns, but it produces scatter-brained people, often addicted to the beeps of their assorted gadgets, and detrimental to their health and well-being and the well-being of those around them.
I'd rather be a carpenter in the Catskills making 35K / year and producing beautiful products that enhance life than a Forex trader taking 10x that amount but simply sloshing capital around.
4. Invest in stuff that has value.