Earlier this year Wharton released a video where Howard Marks interviewed Joel Greenblatt. It was a short interview packed with wisdom from the two value investors.
Greenblatt first came across value investing after reading Ben Graham, which offered him a new perspective on investing. He defines value investing perfectly:
Figure out what something is worth, pay a lot less, leaving a large margin of safety.
He repeated this definition several times during the interview. Most people never get past the first part, but he offers two guarantees to those that do the work. Continue Reading…