(n.) Someone who is devoid of any kind of common sense, spends his or her entire day doing nothing, and yet when it is all said and done scores higher than you on your physics exam (or DLD project).
(v.) To waste an excessive amount of time, thereby pissing your friends off.
(adj.) Lacking any trace of common sense whatsoever.
n. I don't understand how shmargum hasn't failed out of college yet.
v. Stop shmargumming around and clean the kitchen.
adj. That was a really shmargum move you pulled in class, bro.