Thread by @QCompounding

Joel Greenblatt once said:

""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."

Here are 10 things I learned from him:

"The stock market is a device for transferring money from the impatient to the patient."

- Joel Greenblatt

"The more comfortable you get, the worse off you are. The more fun you have, the worse you probably did with your investments."

- Joel Greenblatt

"Do you really like a particular stock? Put 10% or so of your portfolio on it. Make the idea count... Good [investment] ideas should not be diversified away into meaningless oblivion."

- Joel Greenblatt

“You can’t be a good value investor without being an independent thinker – you’re seeing valuations that the market is not appreciating. But it’s critical that you understand why the market isn’t seeing the value you do.”

- Joel Greenblatt

“The market's very emotional but over time, doing something logical and systematic does work. The market eventually gets it right.”

- Joel Greenblatt

""The very best investors – the Warren Buffetts, the Peter Lynches – are successful because they have more control over their emotions."

- Joel Greenblatt

"There's only one big difference between successful investors and unsuccessful investors: the successful investors stick with it."

- Joel Greenblatt

"I'm always looking for situations where I can lose the least amount of money, not necessarily where I can make the most money."

- Joel Greenblatt

“The secret to successful investing is relatively simple: Figure out the value of something and then pay a lot less.”

- Joel Greenblatt

That's it for today.

You'll love these Class Notes from Joel Greenblatt at Columbia University.

I am sharing all his Class Notes mapped in 1 PDF for free: compounding-quality.ck.page/e3f59a4723