IC Interviews: Joel Greenblatt
Investors' Chronicle
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The Importance of Return on Investment in the UK
In the UK market, there tends to be quite a large crossover between value investing and income investing. How do you tend to think about stocks that yield a decent amount? Is that just a nice bonus for you? Does it? I'm sure it does. Some occasions imply that growth prospects are actually a bit poor or is it something that doesn't really end your thinking too much when you're analyzing companies? Yeah, that's a great question. We look at total return where we look at, okay, so a company generates this kind of cash flow,. They're doing smart things with it. If they're reinvesting it well, I don't need a dividend. If they have a
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