Evidence-based investing is grounded in the substantial body of academically proven evidence that market-timing and security selection in relatively efficient markets are not expected to benefit investors after costs.
Evidence-based advisers believe investors are best served with efficient, low-cost portfolios that:
(1) reflect their personal financial goals;
(2) expose them to globally diversified sources of persistent market returns (such as asset class and/or factor exposure); and
(3) help them manage their damaging behavioral biases.
Typically science and education are favored over the traditional route of 'speculation'.