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Strategies & Market Trends : Greenblatt's Little Book That Beats The Market
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To: bruwin who wrote (57)2/1/2006 5:44:48 PM
From: Stewart Whitman  Read Replies (1) of 218
 
I understand what you're saying, except that Greenblatt also defines 'net fixed assets' differently (excluding intanglibles, goodwill, deferred tax assets, and occasionally some excess cash).

Because of this, his 'net working capital' + 'net fixed assets' is not precisely your 'Capital Employed'. I understand the C = A - L balance sheet equation, and that you can rearrange it to A = C + L.
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