"Stop analyzing stocks as data and statistics and start analyzing businesses," that's what Joel Greenblatt told students of his Special Situation Investing Classes at Columbia University Business School according to transcripts of the lessons in the early 2000s.
Q4 hedge fund letters, conference, scoops etc
Greenblatt concentrated on valuation throughout his lessons, telling students that "Value investing is not just buying low P/E multiples," it is "buying something at a discount to what you think it is worth."
He advocated building a concentrated portfolio made up of no more than 20 positions, waiting for the fat pitch and only investing in the companies "you are comfortable with."
Greenblatt also...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
