There was an unusual number of successful value investors to come out of the Wharton Business School in the late 1970s.
Joel Greenblatt was one of those.
The man literally wrote the book on special situations, merger arbitrage and spinoffs. He is also the pioneer of the magic formula that combines a high return on capital business with a sensible valuation.
In the video below he takes questions from another great investor ... Howard Marks (Trades, Portfolio).
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