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This is a Joel Greenblatt ?magic formula? pick. After reading ?The Little Book That Beats the Market,? I was surprised to see how poorly Joel Greenblatt was doing on caps (TrackJGreenblatt) using his investing formula. However, since he repeatedly states in the book that the formula fails often enough that most people will give up on it, and even when it does work it requires buying a stock when it is not favored by the market and holding onto it for a year or more, I figured the way he was being tracked might not be a true indication of how well his ?magic formula? was really performing.
I decided I would track some of the stocks his formula came up with that weren?t being tracked on his caps page. In addition to picking from the stocks selected by magicformulainvesting.com that are not currently being tracked by TMF, I will track all the magic formula stocks I pick for a year. This is because Greenblatt recommends holding stocks for a year or more, but all the stocks being tracked on his page are only being tracked for only 3 weeks.
Oops, sorry. I am new to Caps and quickly typed up a blurb to post with all the stocks I had selected from magicformulainvesting.com figuring I would come back later and edit them. However, I just came back later and found that all the quotation marks and apostrophes I had used morphed into question marks and there were several badly worded sentences and duplicated words I wanted to edit, but could not. Seems once you post something on caps it is there for good. Hmm, guess I will be more careful with my posts in the future.
Curious situation. TMF recommends a "buy and hold" approach, yet CAPS focuses on the short-term. You sure Jim Cramer doesn't have anything to do with CAPS? Just wondering....