The magic formula works, but most people don't have the patience to stick with it.
Investors
Joel Greenblatt
Born in 1957, Joel Greenblatt is the founder of Gotham Capital and an adjunct professor at Columbia Business School. He devised the 'Magic Formula' — a system that ranks stocks by just two metrics, earnings yield and return on invested capital — and demonstrated that it consistently beats the market. A rare figure who straddles academia and practice, he has worked to make value investing accessible to everyone.
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Joel Greenblatt's Other Quotes
You can't really teach someone to be a great investor. But you can teach them to avoid the common mistakes.
Buying good companies at bargain prices is the secret to making a lot of money.
Choosing individual stocks without any idea of what you're looking for is like running through a dynamite factory with a burning match.
The stock market is there to serve you, not to instruct you.
Related Quotes
Endure and renounce.
-- Epictetus
Fire tests gold; adversity tests strong people.
-- Seneca
Bodily pain does not last without limit; intense pain is brief in duration.
-- Epicurus
If you carve without ceasing, even metal and stone can be engraved.
-- Xunzi
He who has a why to live can bear almost any how.
-- Friedrich Nietzsche
Energy and persistence conquer all things.
-- Benjamin Franklin