Value Manager Joel Greenblatt Launches Online Money Management Firm Formula Investing at 5th Annual New York Value Investing Congress
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Value Manager Joel Greenblatt Launches Online Money Management Firm Formula Investing at 5th Annual New York Value Investing Congress Firm Follows Strategy Described in New York Times Bestseller The Little Book That Beats the Market to Help Individuals, Institutions and Registered Investment Advisors Manage Portfolios of Value Stocks NEW YORK, Oct. 19 /PRNewswire/ --Today Joel Greenblatt, a top value manager, officially launched Formula Investing (www.formulainvesting.com), an online money management firm that follows the investment strategy described in his New York Times bestselling book The Little Book That Beats the Market. The announcement was made as Greenblatt presented at the 5th Annual New York Value Investing Congress, where the investing world's greatest minds, including Bill Ackman, David Einhorn, and Julian Robertson, came to share their best strategies with attendees. Formula Investing is a money management firm that uses a unique, proprietary stock-screening system and a disciplined approach to manage portfolios of value stocks. The firm offers its services to individual investors and institutions and to registered investment advisors, who can use Formula Investing as a sub-advisor. Formula Investing uses a system that determines portfolio selections through a simple, logical and proprietary quantitative model that chooses stocks based on a combination of their relative cheapness and quality, as measured by earnings yield and return on capital. Formula Investing allows money to be managed in a disciplined manner that removes factors, like excess emotion and future projections, that often lead to bad investment results. "When I wrote The Little Book That Beats the Market, I did so in an effort to explain how investors can construct a portfolio of 'value' stocks with the objective of outperforming broad market indices over the long term," said Joel Greenblatt, Co-Founder and Chief Strategist, Formula Investing. "Formula Investing allows individuals to have their money managed by professionals using a system that follows the strategy outlined in my book. The methodology used chooses a portfolio of stocks in a simple, logical and disciplined way so that Formula Investing can provide individuals and registered investment advisors with a unique opportunity to manage money wisely." Greenblatt's experience includes founding and managing Gotham Capital, a private investment partnership. Since 1996, he has been a professor on the adjunct faculty of Columbia Business School, where he teaches Value and Special Situation Investing. Formula Investing is managed by K. Blake Darcy, a pioneer in online commerce who served as the Founder and CEO of DLJdirect, one of the first online brokerage firms. Darcy led DLJdirect from its inception in 1987 through its sale to Bank of Montreal in 2001, where it became part of E-Trade in 2006. Under his leadership, DLJdirect won numerous awards around the world for its innovation and the quality of its service. "Many readers of The Little Book That Beats the Market wanted to follow the strategy Joel outlined but were unable to devote the time and attention necessary to implement the strategy properly," said K. Blake Darcy, CEO, Formula Investing. "Formula Investing gives individual investors and registered investment advisors the opportunity to manage long-term assets in the simple and logical way Joel created. Joel is considered a legendary investor and respected the world over for his expertise. We are excited to provide people with a unique opportunity to leverage Joel's insight through Formula Investing's money management services." Formula Investing is dedicated to transparency and is one of the first registered online money management firms to allow clients to view their account holdings and portfolio performance online, on close to a real-time basis. The website www.formulainvesting.com is designed to make it fast and easy for investors to get the information they need and sign up for an account. Once individuals have opened and funded an account, they can go online and view their portfolio positions and balances, as well as see how their portfolio is performing compared to various market benchmarks. The initial investment requirement is $25,000, and the annual fee, which includes all management fees and commission costs, is only 1% of assets. While the firm believes investors should have a long-term focus when investing their assets through Formula Investing, there are no penalty charges for closing an account at any time. Individual investors can choose between two methods of management at Formula Investing: Professionally Managed and Self Managed. Professionally Managed accounts allow an investor to establish a traditional, separately managed account and let Formula Investing make all of the investment decisions. Clients who choose to open a Self-Managed account are able to choose which of Formula Investing's top-ranked stocks to purchase and then place an order for a basket of these stocks with the click of a button. Alerts are then generated by Formula Investing when it is time for the investor to consider selling stocks in his or her portfolio. The Value Investing Congress is recognized as one of the premier events for value investors around the world. The Congress gives attendees the opportunity to ask questions directly of every speaker so they can acquire expert strategies specifically geared toward today's--and tomorrow's--investing challenges. About Formula Investing Formula Investing is an online money management firm that uses a unique, proprietary stock-screening system and a disciplined approach to manage portfolios of value stocks. The firm offers its services to individual investors and to registered investment advisors. The system Formula Investing uses determines portfolio selections though a simple, logical and proprietary quantitative model that chooses stocks based on two key measures--earnings yield and return on capital. Formula Investing is co-founded by Joel Greenblatt, one of the most highly regarded value managers in the world, and it follows the strategy outlined in his New York Times bestselling book The Little Book That Beats the Market. Contact: Philip V. Ramirez, (212) 784-5713, Philip@GroupGordon.com SOURCE Formula Investing Philip V. Ramirez, +1-212-784-5713, Philip@GroupGordon.com
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