Joel Greenblatt Has an Idea: Pay Less Than It's Worth

I sit around trying to figure out what businesses are worth, and then I try to pay a lot less for them.
– Joel Greenblatt

Joel Greenblatt achieved extraordinary returns, with an annualized rate of about 50% from 1985 to 1994. He specializes in value investing and 'special situations' like spin-offs and mergers, leveraging corporate transformations to gain market advantages. His net worth was estimated to be around $500 million as of 2023.

Greenblatt is a genius at boiling down investing to its simplest elements. And he makes an excellent case for value investing in The Little Book That Still Beats the Market. It is one of the classics of finance literature and a best seller, with more than 300,000 copies in print

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