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The Penalty for Ignoring Goodwill

By MagicDiligence on Tue, 2009-08-11 07:42
(via www.magicdiligence.com)

Joel Greenblatt's Magic Formula strategy subtracts out goodwill accounting when calculating a return on capital figure. What are the ramifications, both positive and negative, of doing this and how can we apply it to MFI stock analysis?