Joel Greenblatt is an investing legend thanks to his evaluation work. His flagship book, The Little Book That Beats the Market, set a new standard in valuation by making the link between quality and value.
Looking back, Greenblatt's conclusion from his work seems obvious. High-quality companies trading at discount valuations should produce the best returns over time as share prices benefit from both an uplift in valuation and increased profitability.
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However, even though it may seem obvious...
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