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5min chapter
RWH003: How To Win The Investing Game w/ Joel Greenblatt
We Study Billionaires - The Investor’s Podcast Network
Is the Magic Formula Still Effective?
joe greenblad: Cheap works very, very well. It happens to be more volatile. And i don't measure risk by volatility either. If you're mying big cash flow generating business is usually they're getting good returns on capital. The real question is can i open a thousand of those stores that earn 30 % and only three or four companies that r earnd 60% before that return comes down? Then, which is the better long term investment? Its really it has to be good enough return on tangible capital.
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