Yes, the growthies remain pricey, but value investing has not worked this year, either. (Check the performance of the Windsor Fund.) And I still feel extremely comfortable with Microsoft.

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Check the five- and 10-year performance numbers as another checkpoint.

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Lest we forget, until the great crash of 2007-8, it was widely believed that the Bank of England's performance had been world class: inflation was in check, providing the necessary price stability for businesses, households and government to make rational investment and spending decisions.

BBC: Can the Bank of England hit any target?

"After the shock of the Munich performance, the Greece game was a little bit of a reality check for us after all the euphoria, " added Keown.

BBC: England's seven-year itch

Welch likens early screening to the check engine light on a car, occasionally picking up abnormalities that don't affect the vehicle's performance.

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While it can help advisors in their research as well as client servicing activities, it can also help clients check-up on the advice that they are getting and assess their performance in a more sophisticated manner.

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Watson used the device for practice rounds last week at Augusta National (check out his performance here).

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