Monday, July 2, 2012

Joel Greenblatt quote (knowing what you don't know)

“My students sometimes ask, “What do you do for a company that is in a competitive industry, or technology is causing major changes, or new products are coming out, or some other circumstance makes it very difficult to estimate what future earnings might be?” I tell them to just skip that company and find a company that they can analyze. It is very important to know what you don’t know.” –Joel Greenblatt (as quoted in the book Hedge Fund Market Wizards)