The thread creator while has emphasied the magic formula, there is great story around which this topic is woven around. The story lays the foundation for the formula.
While you may or may not like the formula, you have to read the author’s argument on why he believes in it. Last but not least he is a very successful practitioner of investing, so it will definitely add value to you in the long run.
I would say it is a wonderful book even for a novice to get fascinated towards investing.