Greenblatt's Little Book That Beats The Market Message Board

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Strategies & Market Trends : Greenblatt's Little Book That Beats The Market

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To: Paul Senior who wrote (8)	12/13/2005 3:34:44 PM
From: LauA	Read Replies (1) of 218

May I remind you that Greenblatt wrote a previous book in 1997. I assume that he's layered special situation bets and Buffett/Graham MA positions on top of a value disciplined focus-type investing. It's not much different than what Cunningham describes in his compilation of the BRK shareholder letters, or Mary Buffett; just distilled down. In his first book, he claimed returns on the order of 50%. Whether it's 50, 40, 30, or 20%, how many mutual funds are doing that well? How many investors on SI are doing the Index+10%? One problem I see with the method is that it appears to be a Relative Value exercise. I would assume that some insight into guestimating intrinsic value is necessary. Another is that one needs to expect some time, even years, of negative returns. Most investors, especially institutions, don't have the discipline to stay the course.

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