I have attached a PDF document to this post for you all to read and salivate over!
The PDF includes a few general parameters and ideas that you can use to narrow down your stock picking searches. I recommend that you use Google Finance's or Yahoo's stock screeners or your own broker's would be better, to filter through the thousands of stocks on the market and find a few that you can evaluate further. These tips will help any investor focus his/her attention on stocks that have interesting statistical characteristics.
For example, you can set your filer to find large cap stocks that have a very low PE ratio (like 5). This search returns only 7 symbols. SZE, BRK.B, IWF, IWM, IVV, VWO, and WLP. Now, an investor could look into these companies, and ETFs, and decide if any of them were worth purchasing.
Much easier than spending days and days evaluating fundamentals!
Please feel free to post comments/critiques!