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in this video it's all about top investing rules and quotes from Joel Greenblatt stay tuned I traded a very warm welcome to you so this is for the investors of you out there some rules and some quotes from Joel Greenblatt himself now the first one is a little bit of funny okay I've paraphrased a bit and I've said have an idea of what you're looking for what he actually said was this choosing individual stocks without an idea of what you're looking for is like running through a dynamite factory with a burning match you may live but you're still an idiot so what he's trying to say there is listen have a strategy for what you're looking for have a filtering process have just the system so you know what you're looking for are you looking for some kind of value I look of a p/e ratio are you looking for a mentor my looking for growth I looking for turnaround I look for management what is it what is the thing you're looking for if you're just picking based on different criteria each time if I'm running for a dynamite Factory with a burning match or if you're just picking just because it feels good again you're not gonna get away with it you might get away with it as he's saying you know you're still gonna live potentially but you might not you might get blown up but you're still in India because eventually you will get blown up so the point is having a strategy it's the same isn't it guys when you're investing or if you're trading whatever you're doing you have to have a good strategy so the second thing you said is work out the value of something and pay less so his investment ethos is you decide on the value and again that's going to be subjective you're going to have to have an idea what you consider as a value whether you're using income when you're using earnings whatever you're using to value your investment and then pay less for that investment than the valuation that's his strategy that sounds very sensible and obviously in some situations in the market market shares are undervalued based on their valuation because of something coming up or purely because of price action views be depressed by the market or whatever it may be so this makes sense to have a variety of value and then aimed pay less for it and this is actually something very common with all the great investors and people like Buffett etc they all will say hey you know what I like to pay less than I think that something's worth now of course the instant the the the sort of variable there is what is the value sometimes it's subjective some people using different ways of calculating that but if you've got something you believe is right and you can pay less for it in Joel Greenblatt's mind it's a good place to put your money alright third one is on news and events great investment opportunity he was talking here a lot about I hope against that is the proper quote for you guys something out of the ordinary course of business is taking place that creates an investment opportunity the list of corporate events that can result in big profits for you are spin-offs mergers restructurings rights offerings bankruptcies liquidations asset sales distributions in other words when something unusual happens and business is fine and great there might not be an opportunity there yeah sure the market might be you know Mike the stock might get higher and higher and higher the point is when there's unusual events out of the ordinary people can't price it well sometimes and you get this unusual pricing big disagreements so when you get bankruptcies liquidations assets there's all the things I mentioned there there potentially is opportunity so from an investment perspective if you become a specialist and want to of those areas and then when these things happen you know what's good what's not bad what's good value was not good value where that money might flow to and become an expert in it that might be a good sound way of investing in the market okay number four quality not quantity same if you're a short-term trader swing turn turn traitor or an investor it's all about the quality of the trade idea the quality of the investment idea not how many you can make one or two great ideas can make your year your decade potentially if you're investing long term right it's not about having a loan loan load of them because you're gonna have some losers in there they're not all gonna be great same if we're short term trading as well you know the one or two very good trades in the week and make the whole week or a month if you're doing hundreds and hundreds unlikely they're all going to be that good so a good one that and kind of it works all the way down as a short-term right out to long-term investing for quality ideas invest your money your higher learned money in the quality ideas not the frequency of ideas number five stick to investing in companies you know well so he basically said you know at the end of the day it's a good idea for you to have a really good feeling about a certain company sector or certain company ties and invest in those because you can put more money into that investment rather than having he was commenting like 14 50 favorite stock putting money in that you know go into your your your very favorite stock so the companies you know well you know their business model you know their challenges you know the growth potentials you know all this kind of stuff stick your money into those as opposed to the other ones we're not really familiar with it you don't know if it's going to be that good am I gonna work and not put more money into the stuff that you know which makes good sense so me alright number six wait until an idea is so good it hits you on the head same with the training world guys if an idea an investment idea is so good that it metaphorically hits you on the head it just jumps out the screen or jumps out the paper whatever it may be and say hey these numbers look great is my rules check check check check check everything's looking fantastic on this I have to invest in this company that's one the one you should be waiting for same with trading when your things are lining up for you your strategies showing this is a great trade everything is think this is absolutely perfect I need to get involved in it wait for those ones and allocate your capital so that your mental resources to that for a better payoff than just trading everything or investing everything that kind of looks okay and then having no resources left over that capital or or or okay emotional capital or mental capital to allocate it's a really good idea because you're burnt out you've lost all your capital it's all in other places when the really good one comes along and like he says hits you over the head and I think you said like an anvil alright guys let me know your thoughts in the comment section below investing rules and quotes from Joel Greenblatt take care of good trading and investing office you next one goodbye you
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