While 2010 was a good year for the broader stock market, it was an even better year for John Reese’s Validea.com Guru Strategies.

For the full year, Reese’s guru-inspired 10-stock portfolios returned an average of 19.2%, easily outpacing the S&P 500’s 12.8% return. The best performer was the approach inspired by little-known professor Joseph Piotroski, who in 2000 developed an accounting-based method to find solid stocks using the book/market ratio. In 2010, Reese’s Piotroski-inspired portfolio returned 55.9%, more than quadrupling the S&P’s gain.

Reese’s Guru Strategies are based on the published approaches of several investing greats, including Benjamin Graham, Warren Buffett, and Peter Lynch. A full report on how his guru-inspired portfolios fared in 2010 can be accessed by clicking here.

The report looks in detail at the Piotroski-based portfolio, as well as several other guru-based portfolios, including:

• The Graham-based Portfolio, which gained 22.6% in 2010. While based on a strategy Graham laid out more than 60 years ago, the portfolio returned 211.6% from its July 2003 inception through the end of 2010. That’s 16.4% annualized, vs. 3.1% for the S&P 500;
• The Top 5 Gurus Portfolio, which uses five of Reese’s best-performing strategies in one portfolio. It gained 31.0% in 2010, and through the end of the year was up 15.8% annualized since its July 2003 inception, vs. 3.1% for the S&P;
• The Motley Fool-based Portfolio, which has now beaten the market by at least 6 percentage points in each of the eight years since its July 2003 inception (including the partial 2003 year). Based on an approach outlined by Motley Fool creators Tom and David Gardner, it returned 19.2% in 2010, and has averaged annualized returns of 15.8% since its inception.