Which one of the following statements regarding investment strategies is correct?

A) A contrarian strategy could include purchasing stocks when mutual funds' cash positions are increasing.

B) Over time, low P/E stocks will always outperform high P/E stocks.

C) According to many contrarians, professional money managers are not as susceptible to the herd instinct as individual investors.

D) Buy and hold investors rarely do as well as investors who engage in active market timing strategies.