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Joel Greenblatt
It’s hard to take something called a “Magic Formula” seriously.  But you should.  It’s beaten the market by a wide margin over the past two decades and with less volatility. The Magic Formula—a stock screener designed by hedge fund guru Joel Greenblatt –ranks stocks by two factors: Profitability (based on Greenblatt’s chosen metric, Return on...
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If Warren Buffett, Christopher Davis, Joel Greenblatt and Seth Klarman recommend a book, it might—just might—be worth reading.   It certainly got my attention. Warren Buffett calls Howard Marks’ The Most Important Thing “that rarity, a useful book.”  And as a researcher with a library of a couple hundred books myself, I couldn’t agree more. For...
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Now and then it is nice to take a peek over the shoulder of a successful investor to see what their high-conviction buys are.  When you read a headline that “Warren Buffett is buying Company X,” you’re naturally inclined to do a little digging into Company X’s financials.  After all, if it’s good enough for...
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The art of investing is an exercise in making decisions under conditions of uncertainty. But today, it seems that the cloud of uncertainty is a little thicker than usual. During times like these, I like to do what your college professor might have called “cheating.” I like to look over the shoulders of other investors...
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