Table: Why It's a Stock-Picker's Market
-- As long as investor confidence remains in the doldrums, the market isn't likely to stage an overall lift or sustainable rally.
-- With earnings and accounting methods under scrutiny, investors have to be more selective than ever in choosing stocks.
-- Broad strategies such as growth or value aren't working. Pros say value stocks are often overvalued, and many growth stocks have stopped growing.
-- Index investing just isn't cutting it. It has now been the longest wait for a new high for the Standard & Poor's 500-stock Index since the bull market began in '82.
-- Sector investing is shaky. There are bad companies in good sectors and vice-versa. The same goes for large caps vs. small caps.