Joel Greenblatt is best known for his Magic Formula, an investment technique that combines quality and value. Greenblatt's own research shows the magic formula investing strategy averaged 24% returns per year between 1988 and 2009.
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According to Greenblatt, the Magic Formula can be broken down into two component parts, "what you pay" and "what you earn" according to a transcript of his Special Situation Investing Classes at Columbia University Business School.
What you pay, and what you earn
The...
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