Joel Greenblatt Quotes
101 Joel Greenblatt Quotes
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The odds of anyone calling you on the phone with good investment advice are about the same as winning Lotto without buying a ticket.
Joel Greenblatt
You want to be well paid because you did your homework.
Joel Greenblatt
You don’t want to be well paid merely for taking big risks. Anyone can manage that.
Joel Greenblatt
The truth is you can’t really tell much of anything just from measuring a stock’s past price movements.
Joel Greenblatt
Stock market profits can be hiding anywhere, and their hiding places are always changing.
Joel Greenblatt
Reading and studying Graham’s work is how I first became fascinated with the stock market. I still apply his teachings wherever and whenever I can.
Joel Greenblatt
[On value-oriented strategies] Though these strategies have been well documented over many years, most individual and professional investors do not have the patience to use them.
Joel Greenblatt
Both spinoffs and merger securities are distributed to investors who were originally investing in something entirely different. Both spinoffs and merger securities are generally unwanted by those investors who receive them. Both spinoffs and merger securities are usually sold without regard to the investment merits. As a result, both spinoffs and merger securities can make you a lot of money.
Joel Greenblatt
Both spinoffs and merger securities are generally unwanted by those investors who receive them.
Joel Greenblatt
Bargains are often created by anxious sellers who never wanted the stuff in the first place.
Joel Greenblatt
Remember it’s the quality of your ideas not the quantity that will result in the big money.
Joel Greenblatt
The important thing is to stick to the few situations that you have time to research and understand.
Joel Greenblatt
To be a successful investor over the long-term, you must also pretty much enjoy the journey.
Joel Greenblatt
[On money] If viewed in the proper light, it can buy you time – the freedom to pursue the things that you enjoy and that give meaning to your life.
Joel Greenblatt
While it’s nice and often helpful to have a rising market, it’s not required.
Joel Greenblatt
New bargains are constantly being created.
Joel Greenblatt
It’s just that more than 95% of the trading back and forth each day is probably unnecessary.
Joel Greenblatt
Companies that are too small for professionals to buy and that are not large enough to generate sufficient commission revenue to justify analyst coverage are more likely to be ignored or misunderstood.
Joel Greenblatt
Most people don’t (and shouldn’t) invest by buying stocks and holding them for only one month. Besides the huge amount of time, transaction costs, and tax expenses involved, this is essentially a trading strategy, not really a practical long-term investment strategy.
Joel Greenblatt
Buying stocks and holding them for only one month…is essentially a trading strategy, not really a practical long-term investment strategy.
Joel Greenblatt
Many studies over the years have confirmed that value-oriented strategies beat the market over longer time horizons.
Joel Greenblatt
As much as possible you don’t want to be well paid merely for taking big risks. Anyone can manage that. You want to be well paid because you did your homework.
Joel Greenblatt
The record of research analysts at major brokerage firms for predicting future earnings or stock prices is quite poor… Even institutional clients of reputable investment firms don’t get particularly good advice.
Joel Greenblatt
The strategy of putting all your eggs into one basket and watching that basket is less risky than you might think.
Joel Greenblatt
A stock that has fallen from 30 to 10 is considered riskier than a stock that has fallen from 12 to 10 in the same period. It might be. But it could be that most of the stock’s downside risk has been eliminated by the huge price drop. The truth is you can’t really tell much of anything just from measuring a stock’s past price movements.
Joel Greenblatt
There’s more than one road to investment heaven.
Joel Greenblatt
The secret hiding places of stock-market profits – The answer is: stock market profits can be hiding anywhere, and their hiding places are always changing. In fact, the underlying theme to most of these investment situations is change.
Joel Greenblatt
Even finding one good opportunity a month is far more than you should need or want.
Joel Greenblatt
Teach a man to fish…
Joel Greenblatt
Research will take some work. The good news is that you will be well paid.
Joel Greenblatt
Risk arbitrage – No. Merger securities – Yes.
Joel Greenblatt
The important thing to remember is that purchasing the common stock of bankrupt companies is rarely a profitable investment strategy.
Joel Greenblatt
Trade the bad ones, invest in the good ones. This means when you make a bargain purchase, determined what kind of company you’re buying.
Joel Greenblatt
In fact, if it’s used to help others, money can be a very positive force.
Joel Greenblatt
While to many ‘time is money’, it’s probably more universal to say that ‘money is time’. After all, time is the currency of everyone’s life. One of the great benefits of having money is the ability to pursue those great accomplishments that require the gifts of being and time.
Joel Greenblatt
While it’s nice and often helpful to have a rising market, it’s not required. Because your bargain opportunities are created by special corporate events – events that take place in all market environments – new bargains are constantly being created. In most cases though, these bargains are only temporary. It might not be today or tomorrow, but if you do your homework well, the stock market will eventually recognise the inherent value that attracted you to the bargain opportunity in the first place. That’s why, in the end, a disciplined approach to seeking out bargain stocks will pay off.
Joel Greenblatt
A strategy of buying stocks at low prices relative to their book values has been shown to consistently beat the market.
Joel Greenblatt
If I can buy a business for a lot less than I think it’s worth, I buy it.
Joel Greenblatt
If you just stick to buying good companies (ones that have a high return on capital) and to buying those companies only at bargain prices (at prices that give you a high earnings yield), you can end up systematically buying many of the good companies that crazy Mr Market has decided to literally give away.
Joel Greenblatt
Paying a bargain price when you purchase a share in a business is a good thing.
Joel Greenblatt
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