By
Borsgade
Investor Joel Greenblatt was recently interviewed by Satovsky Asset Management. Here he talks about the ability to find companies that trade below their fair value and how to effectively mitigate risk when investing.
Here is an excerpt from the interview:
You don’t have to be right all the time but you have to know how to value businesses because that’s what stocks are, their ownership shares of businesse. […] and the more I know something the less upset I get when things go against me.
Because when you think about it unless you bottom-tick a stock, or fund even, or the stock market, unless you get the exact bottom it’s down after you bought it every time. It’s almost like you never bottom tick so every time you buy something it’s down from where you bought it.
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