Knowing where to look for the best investments and how to think about investing is more important than being a specialist in a particular sector or industry according to a transcript of Joel Greenblatt's Special Situation Investing Classes at Columbia University Business School.
Q4 hedge fund letters, conference, scoops etc
Speaking to a class in October 2003, Greenblatt told his students that he believes it is not particularly important to focus on a company's individual fundamentals, as long as it appears to be both highly profitable and undervalued.
He gives the example of the retail sector, where most investors and analysts concentrate on a company's same-store sales figures....
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