Value investing2005
The Little Book That Beats the Market
Joel Greenblatt
Introduces the Magic Formula, a systematic value screen based on business quality and valuation.
Quotes
Practical lesson: estimate value instead of forecasting short-term price.
Practical lesson: demand a margin of safety.
Practical lesson: prioritize avoiding permanent loss.
Practical lesson: wait for price and quality to align.
These are practical paraphrases, not verbatim quotations.