The new funds are based on Greenblatt’s so-called Magic Formula, a common-sense approach to value investing that ranks stocks on price and yield and recommends buying and holding a basket of cheap companies that have been overlooked or are under-appreciated by investors. (Greenblatt outlined the philosophy in his 2005 book, The Little Book That Beats the Market.) Greenblatt and his 16-person investment staff have been working to create a slate of value strategies, both long-only and long-short funds, which both build on and enhance his value-investing formula.
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Relying On Old-Fashioned Stock Picking, Lee Ainslie Reports His “Strongest Quarter” Ever
Lee Ainslie's Maverick Fund USA enjoyed its "strongest quarter in the fund's history" during the three months to the end of June. According to a copy of the firm's second-quarter letter to investors, which ValueWalk has been able to review, Maverick Fund USA gained 18% in the second quarter. Following this performance, the fund was Read More
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