Joel Greenblatt, the value investor and academic known for popularizing his Magic Formula approach to investing, gave a rare interview with CNBC, recommending that retail investors (or at least the kind of investor who might be watching CNBC for investment ideas) stick to the top 20 names on the S&P 500 (INDEXSP:.INX) because they are reasonably well-priced.
Joel Greenblatt: Large-cap prices ‘aren’t terrible’
“The big, big picture is this. Large caps have a better valuation right now than small caps,” says Greenblatt. “They’re not great but they’re not terrible.”
He specifically names Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Hewlett-Packard Company (NYSE:HPQ) as some...
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