The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 3 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Gotham Capital generated 50% annualized returns before fees over its first decade
“We made 50% a year for those 10 years before our fees.”
Seides: Joel Greenblatt's early Gotham fund compounded at 50% for ten years
“And not only were they six to eight positions, but he took as much risk as he could. He used to use leaps instead of just cash, you know, securities or stocks. And they compounded at 50% a year for 10 years, and then he retired.”
Greenblatt's early merger arbitrage failed after Cypress Gardens collapsed into a sinkhole
“One of the first deals I did in the first two months I was in business broke. I wrote about Florida Cypress Gardens was being bought by Harcourt Brace, and it was just a little theme park where they had alligators in the swamps and water skiing Santa Clauses, …”