Joel Greenblatt is an American academic, hedge fund manager, investor, and writer. He is a value investor, alumnus of the Wharton School of the University. He is author of many publications mostly knowned "little books that beats the market". In this book Mr. Greenblatt has introduced the magic formula to the world. According to Mr. Greenblatt the magic formula is designed to help investors with “buying good companies, on average, at cheap prices, on average.” Using this straightforward, non-emotional approach, investors screen for companies that are good prospects from a value investing perspective.