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 GreenblattLook down, not up, when making your initial investment decision. If you donโt lose money, most of the remaining alternatives are good ones.
Joel GreenblattValue investing doesn't always work. The market doesn't always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn't work. And that is a very good thing. The fact that our value approach doesn't work over periods of time is precisely the reason why it continues to work over the long term.
Joel Greenblatt