Shane, I've read several posts (which I guess I could find again and link) of others trying it with dissapointing results. It's a good theory, but I'm not convinced "quant" investing is a great way to go. I wish Greenblatt would update the results, as he last did it many years ago. I can't prove if it works or not, but I believe my money is better off elsewhere. Go ahead and read his book and see what you think. If you try it, let me know!