I ran Joel Greenblatt’s Magic Formula for 1 year. Finished +35.48%. Here’s what happened. I read Joel Greenblatts "The Little Book That Beats the Market" last year and decided to try the *magic formula* for myself. If you have't read the book then in summary the idea is to pick stocks that are are a good price and make good returns on invested capital (glossing over a lot here but you get the idea). You essentially rank order these companies and pick the top 30 (or 50) and invest in them. The thing most people find difficult with this strategy is that at the end of the year you re-run the calculation and refresh the entire portfolio, regardless if the stock made a profit or loss. I decided to give it a go and today is one year. I just refreshed the portfolio and been one I wanted to share my results.…