23 Quotes by Joel Greenblatt

Choosing individual stocks without any idea of what you're looking for is like running through a dynamite factory with a burning match. You may live, but you're still an idiot.

The secret to investing is to figure out the value of something – and then pay a lot less.

Look down, not up, when making your initial investment decision. If you don’t lose money, most of the remaining alternatives are good ones.

Remember, it’s the quality of your ideas not the quantity that will result in the big money.

Here is part of the tradeoff with diversification. You must be diversified enough to survive bad times or bad luck so that skill and good process can have the chance to pay off over the long term.

The way we make money as a group is that we don’t pay a lot for anything, and most of the stocks we buy have low expectations.

We are busy surviving, herding, fixating on what just happened, and being overconfident!

If you spend your energies looking for and analysing situations not closely followed by other informed investors, your chance of finding bargains greatly increases.

Something out of the ordinary course of business is taking place that creates an investment opportunity. The list of corporate events that can result in big profits for you runs the gamut – spinoffs, mergers, restructurings, rights offerings, bankruptcies, liquidations, asset sales, distributions.