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Vamos! There's a 3-point plan for equity investing that's generating 23% returns

Frustrated equity investors looking to ditch the "monkey-and-a-dartboard" approach to stock-picking have been offered some new advice from a London-based private bank, which bases its approach to the stock market on the Spanish for "come on."

Using the acronym VAMOS, Mouhammed Choukeir, chief investment officer at Kleinwort Benson, said the approach represents three key pillars of his investment process focusing on VAluation, MOmentum and Sentiment.

"Valuation is identifying undervalued assets and avoiding those expensive ones. Momentum is participating with positive trends, so investing in those assets that are exhibiting those positive trending characteristics and avoiding the negative trends. And sentiment is the contrarian aspect, essentially going against the tide," he told CNBC Tuesday.

"If an asset is unloved, that's the time to pay attention and invest in it. And if it's exuberant and there's a lot of euphoria around it, that's the time to avoid it," he added.

'Robust and disciplined process'

Choukeir also uses a "bottom-up" approach with this strategy, which uses fundamental analysis on specific businesses, regardless of their industry. He boasts a "robust and disciplined investment process" that has seen the firm's global equity strategy return 23 percent so far this year.

That's against a backdrop of major volatility this year surrounding the Brexit vote in the U.K., with the S&P 500 up 6.58 percent year-to-date and the pan-European Euro Stoxx 600 down 7 percent so far.

Choukeir conceded that there are times when his three pillars were "not all aligned" but said the best example of where his strategy would work was in 2009 when valuations were distressed, there was upwards momentum and "everyone hated the market."

Picking stocks at random

Dart board, three points
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Stock picking still bamboozles many trying to make a buck in the market and there are some that insist that there is no logic or science behind it. Meanwhile, "Freakonomics" authors Stephen Dubner and Steven Levitt believe that investors might try blind luck rather than follow the advice of their portfolio manager. Dubner told CNBC in May 2014 that equity experts were "generally about as good as a monkey with a dart board."

David Harding at Winton Capital - often dubbed the "Wizard of Winton" - believes that random stock picking will beat a simple investment that tracks the S&P 500.

With 30 years of experience in trading systems, Harding decided to beat the market seven years ago with a set of simple investing ideas which were based on choosing 50 stocks at random.