Joel Greenblatt Speaking at Barnes and Noble Event
Joel Greenblatt, author of “The Little Book That Beats the Market
Location: Barnes & Noble 555 Fifth Avenue (46th & Fifth), New York, NY. All are welcome.
I will not be able to attend this event, but I thought some of you might be interested in it. If you make it to Mr. Greenblatt’s talk, please take notes and share them with us here.
The true reason behind the success of the book Joel Greenblatt is presenting at the Barnes and Noble event is his quantitative selection of value stocks which in last 17 years would have doubled the returns of the S&P 500. The statistical evidences and the supporting arguments behind the “magic formula” are really compelling but buying and reading the book is only the first step.
The individual investor must imperatively use the proprietary Greenblatt’s stock screener available for free at http://www.magicformulainvesting.com to select the stocks to buy but the screener has some flaws.
I made some trials and unfortunately the stock screener is not reliable :
– it is not updated daily as advistised in the FAQ page of the web site
– the customer support in fact does not exist, I made 2 enquiries by email to investigate on the site glitches and did not receive any reply.
Since anybody which is willing to invest using the Greenblatt formula, he/she will have to rely on this site for at least a 3-5 years period it would be nice if one of the blog readers attending the presentation in New York could ask to Greenblatt which are his plans regarding the site ? Does he plan to provide a true customer support service ? Does he plan to charge a fee in the future ? If yes, which would be the approximate amount he has in mind ?
Thanks in advance.
you have saved me the trouble of sending Greenblatt an email to ask the exact same question and not getting an answer. how long ago did you email him? being the optomist, there are many reasons why his response may be delayed. eight days have passed since this entry. do you have any additonal or updated information pertinant to your question?
I sent two emails to complain about the site: on Feb. 23rd and Mar. 3rd and didn’t receive any reply sofar.
I still tried to get updated results and it seems that the site provides updated results once a week.
The problem for an investor which wants to use it is that there is no date on the screen so you don’t know if the stocks are selected according to latest updated criterias or not.
One thing is sure: there is no technical support provided by the website.
It would be much better to have a paying service with an adequate customer service.
Hello,
I think the results of the automatic screens of Greenblatt in the coming won’t be as good as in the past. This because of the rise in commodity prices. These have led to high ROC and high EY for many of these companies (so they will come up in the screens), but they lack any competitive advantage..
Hendrik Oude Nijhuis
http://www.magicformulastocks.com