I used Bayesian model averaging and gamboostLSS for variable selection on real data with 23 covariates. A 10-fold CV was used to asses performance. I tested stepwise regression out of curiosity and found that it predicted almost as well as the other two methods. I know stepwise regression has a lot of short comings so I actually expected it do much worse. I'm not sure how to interpret this. Could there be something wrong with my codes? Is it reasonable to expect stepwise regression to do worse than BMA and gamboostLSS, which are much more solid methods?
My data is relatively small with 660 observations over 11 years.
Any thoughts on the matter?