Dr. Robert Schreiber’s Disciplined Earnings Growth Strategy (DEGP) makes an argument that it is possible.
His own account has had real time performance following his strategy since 2007. He has worked for Capital Markets IQ for only a portion of this time, thus they report his performance as hypothetical. His own account records substantiate his results. Of course past performance is no guarantee of future results. Over any given time period accounts may lose principal.
Click the link above to see the performance history.