--- title: "Meaning & Key Takeaway of: Value investing doesn't always work. The…" description: "\"Value investing doesn't always work. The market doesn't always agree with you. Over time, value is roughly the way the market prices stocks, but over t..." image: "https://sms4smile.com/quotes/i/e08/joel-greenblatt-21588_agree_value-investing-doesn-t-always-work-the_2910597.jpg" --- # Value investing doesn't always work. The market doesn't… ![“Value investing doesn't always work. The market doesn't always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn't work. And that is a very good thing. The…” quote by Joel Greenblatt](https://sms4smile.com/quotes/i/e08/joel-greenblatt-21588_agree_value-investing-doesn-t-always-work-the_2910597.jpg) [Download](https://sms4smile.com/quotes/i/e08/joel-greenblatt-21588_agree_value-investing-doesn-t-always-work-the_2910597.jpg) [Open image](https://sms4smile.com/quotes/i/e08/joel-greenblatt-21588_agree_value-investing-doesn-t-always-work-the_2910597.jpg) > “Value investing doesn't always work. The market doesn't always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn't work. And that is a very good thing. The fact that our value approach doesn't work over periods of time is precisely the reason why it continues to work over the long term.” [Joel Greenblatt](https://sms4smile.com/quotes/author/joel-greenblatt/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Value investing may underperform short‑term, but its long‑term discipline yields returns as market corrects mispricings. **In simple terms:** Short‑term dips are normal; long‑term value works. Key Takeaway Stay patient and trust the process. Themes investing patience market cycles Mood cautious optimistic Type advisory analytical When to use this quote - portfolio construction - retirement planning - stock selection - risk management Key Concepts value investing mean reversion behavioral finance Questions to Reflect On - How do you maintain discipline during prolonged drawdowns? - What signals indicate a true value opportunity? A Different Perspective Short‑term underperformance can erode confidence and lead to premature selling. ★ ★ ★ ★ ★ No ratings yet [Agree](https://sms4smile.com/quotes/about/agree/) [Approach](https://sms4smile.com/quotes/about/approach/) [Customer](https://sms4smile.com/quotes/about/customer/) [Facts](https://sms4smile.com/quotes/about/facts/) [Good thing](https://sms4smile.com/quotes/about/good-thing/) [Good things](https://sms4smile.com/quotes/about/good-things/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investing Doesn](https://sms4smile.com/quotes/about/investing-doesn-635038/) [Long](https://sms4smile.com/quotes/about/long/) [Long term](https://sms4smile.com/quotes/about/long-term/) [Periods](https://sms4smile.com/quotes/about/periods/) [Reason](https://sms4smile.com/quotes/about/reason/) [Reason why](https://sms4smile.com/quotes/about/reason-why/) [Short term](https://sms4smile.com/quotes/about/short-term/) [Sometimes](https://sms4smile.com/quotes/about/sometimes/) [Term](https://sms4smile.com/quotes/about/term/) [Three](https://sms4smile.com/quotes/about/three/) [Three years](https://sms4smile.com/quotes/about/three-years/) [Time](https://sms4smile.com/quotes/about/time/) [Time Value](https://sms4smile.com/quotes/about/time-value/) [Two](https://sms4smile.com/quotes/about/two/) [Value Approach](https://sms4smile.com/quotes/about/value-approach-3180499/) [Value Investing](https://sms4smile.com/quotes/about/value-investing-259619/) [Values](https://sms4smile.com/quotes/about/values/) [Very good](https://sms4smile.com/quotes/about/very-good/) [Way](https://sms4smile.com/quotes/about/way/) [Years](https://sms4smile.com/quotes/about/years/) ## Related quotes > [“If you've settled on the value approach to investing and come up with an intrinsic value for a security or asset, the next important…](https://sms4smile.com/quotes/howard-marks/if-you-ve-settled-on-the-value-approach-to-investing-and-come-up-with/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [Value investing strategies have worked for years and everyone's known about them. 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Womack](https://sms4smile.com/quotes/author/james-p-womack/) > [Until you value yourself, you won't value your time. Until you value your time, you will not do anything with it.](https://sms4smile.com/quotes/m-scott-peck/until-you-value-yourself-you-won-t-value-your-time-until-you-value/) [M. Scott Peck](https://sms4smile.com/quotes/author/m-scott-peck/) > [“Convert your time into value”](https://sms4smile.com/quotes/sunday-adelaja/convert-your-time-into-value/) [Sunday Adelaja](https://sms4smile.com/quotes/author/sunday-adelaja/) > [“ 'When there's time for everything, there's value in nothing.' ”](https://sms4smile.com/quotes/vicki-pettersson/when-there-s-time-for-everything-there-s-value-in-nothing/) [Vicki Pettersson](https://sms4smile.com/quotes/author/vicki-pettersson/) > [“When you choose output value over time put in, you increase your available time and your value.”](https://sms4smile.com/quotes/richie-norton/when-you-choose-output-value-over-time-put-in-you-increase-your/) [Richie Norton](https://sms4smile.com/quotes/author/richie-norton/) > [Time is most precious .Value the the time.If we value the time, coming moment of life will take care of itself with dignity.](https://sms4smile.com/quotes/dranil-kr-sinha/time-is-most-precious-value-the-the-time-if-we-value-the-time-coming/) [DrAnil Kr Sinha](https://sms4smile.com/quotes/author/dranil-kr-sinha/) > [Life is too sacred and valuable to be wasted for meaningless things. Value your self being, value your time, value your purpose, value your…](https://sms4smile.com/quotes/anil-sinha/life-is-too-sacred-and-valuable-to-be-wasted-for-meaningless-things/) [Anil Sinha](https://sms4smile.com/quotes/author/anil-sinha/) > [Time only has value when it intersects with energy.](https://sms4smile.com/quotes/jim-loehr/time-only-has-value-when-it-intersects-with-energy/) [Jim Loehr](https://sms4smile.com/quotes/author/jim-loehr/) > [“However, I guess your time is of value, and we did not meet to talk about the cut of my socks.”](https://sms4smile.com/quotes/arthur-conan-doyle/however-i-guess-your-time-is-of-value-and-we-did-not-meet-to-talk/) [Arthur Conan Doyle](https://sms4smile.com/quotes/author/arthur-conan-doyle/) ## More by Joel Greenblatt > [Figure out what something is worth and pay a lot less.](https://sms4smile.com/quotes/joel-greenblatt/figure-out-what-something-is-worth-and-pay-a-lot-less/) [Joel Greenblatt](https://sms4smile.com/quotes/author/joel-greenblatt/) > [We are busy surviving, herding, fixating on what just happened, and being overconfident!](https://sms4smile.com/quotes/joel-greenblatt/we-are-busy-surviving-herding-fixating-on-what-just-happened-and/) [Joel Greenblatt](https://sms4smile.com/quotes/author/joel-greenblatt/) > [ There's a clarity that comes with great ideas: You can \[easily and simply\] explain why something's a great business, how and why it's cheap,… ](https://sms4smile.com/quotes/joel-greenblatt/there-s-a-clarity-that-comes-with-great-ideas-you-can-easily-and/) [Joel Greenblatt](https://sms4smile.com/quotes/author/joel-greenblatt/) > [The secret to investing is to figure out the value of something - and then pay a lot less.](https://sms4smile.com/quotes/joel-greenblatt/the-secret-to-investing-is-to-figure-out-the-value-of-something-and/) [Joel Greenblatt](https://sms4smile.com/quotes/author/joel-greenblatt/) > [Remember, it’s the quality of your ideas not the quantity that will result in the big money.](https://sms4smile.com/quotes/joel-greenblatt/remember-it-s-the-quality-of-your-ideas-not-the-quantity-that-will/) [Joel Greenblatt](https://sms4smile.com/quotes/author/joel-greenblatt/) > [“Perhaps, since the measurement of potential gain and loss from a particular stock is so subjective, it is easier, if you are a professional…](https://sms4smile.com/quotes/joel-greenblatt/perhaps-since-the-measurement-of-potential-gain-and-loss-from-a/) [Joel Greenblatt](https://sms4smile.com/quotes/author/joel-greenblatt/) > [Here is part of the tradeoff with diversification. 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