Of course there are a few practical issues with replicating this result in practice, the most significant being the difficulty in getting access to each IPO.
Some IPOs are only offered to a small segment of the market. Others are fully subscribed shortly after they open for applications.
Past performance is not a reliable indication of future performance.
You can improve your chances of getting subscriptions in IPOs by getting your application in early.
Upcoming Floats offers an entirely free service to alert investors every time a new IPO opens for applications.