A Dozen Things I’ve Learned from Joel Greenblatt about Value Investing

It has been a while since I posted to the blog. The reason being I had nothing much to say. So while I find something to say, there is always a lot of interesting stuff to read. While the message remains the same like all the basics of investing, it is not a bad time to reinforce some key fundamentals (given that the markets are at a high and everyone seems to think that will continue for a while!). So posting a really good read that I came across in the past few days.


Joel Greenblatt is a very successful value investor and the founder of Gotham Capital, which offers four diversified long/short equity mutual funds. He has written several books on value investing identified in the notes below.

1. “One of the greatest stock market writers and thinkers, Benjamin Graham, put it this way.  Imagine that you are partners in the ownership of a business with a crazy guy named Mr. Market. Mr. Market is subject to wild mood swings. Each day he offers to buy your share of the business or sell you his share of the business at a particular price. Mr. Market always leaves the decision completely to you, and every day you have three choices. You can sell your shares to Mr. Market at his stated price, you can buy Mr. Market’s shares at that same price, or you can do nothing.

Sometimes Mr. Market is in such a…

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