“There’s a virtuous cycle when people have to defend challenges to their ideas. Any gaps in thinking or analysis become clear pretty quickly when smart people ask good, logical questions. 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. The back and forth that goes on in the investment process helps you get at that.”
- Joel Greenblatt
More on this topic
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Value Investing: Following in The Footsteps of Sir John Templeton
(Investment U, 7/20/09)
Weekend Recap – October 18, 2009
(The Curious Investor, 10/19/09)
Value Investing is all about finding market inefficiencies
(Dividend Growth Investor, 4/16/09)
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Nice thought, for a nice world…