Einhorn, Ackman, Greenblatt, and Klarman picked a guy named Ardewall as this year's winner of Ira Sohn Investment Idea Contest winner. I am going to be honest with you. These picks usually don't work. Let's see what happened to last year's winner.

Last year's winner was a guy named Sanjay Gorawara and his best idea was Bridgepoint Education (BPI). The lost lost more than 10% since his recommendation. This is ridiculous. How is this a great investment idea?

This year's pick is a little bit different than last year's stock pick. David Einhorn has nearly $125 million invested in Xerox (XRX) (This probably explains why Einhorn picked this guy as the winner). I don't think the stock will be a home run though. It is a good value play but God knows when it will generate some real returns for investors. It needs to double its dividend yield but I don't think they have any intention of doing that. Where is Dan Loeb when you need him?