Investing Strategy: Could it be this simple?

It should be noted that this strategy is no longer recommended.

Could it be this simple? Here are the rules:

• Get the square root of the stock price
• Take the 5 highest
  
• Drop the top one
  
• Invest 40% into the lowest priced
  
• Invest 20% into the others.
  
• Hold for a year and then reallocate.

Historically this strategy returns 28%

This is the Foolish 4 Investing Strategy, it's from the Motley Fool bunch.

It's a child product of the Dogs of DOW investing strategy.

References:

The Motley Fool - Foolish 4 Investing Strategy
The Motley Fool - Farewell to Foolish 4