Does the Magic Formula Work in Brazil? My 5-Year Real Money Study (2020-2025)
After 60 months of tracking, monthly contributions, and rigorous rebalancing, my long-term experiment with Joel Greenblatt’s Magic Formula in the Brazilian market has come to an end. From the pandemic uncertainties of 2020 to the final liquidations in late 2025, here is the raw data and the honest truth about applying this strategy in an …