If you spend your energies looking for and analysing situations not closely followed by other informed investors, your chance of finding bargains greatly increases.
Joel GreenblattThe secret to investing is to figure out the value of something - and then pay a lot less.
Joel GreenblattRemember, it’s the quality of your ideas not the quantity that will result in the big money.
Joel GreenblattSo one way to create an attractive risk/reward situation is to limit downside risk severely by investing in situations that have a large margin of safety. The upside, while still difficult to quantify, will usually take care of itself. In other words, look down, not up, when making your initial investment decision. If you don’t lose money, most of the remaining alternatives are good ones.
Joel Greenblatt