Joel Greenblatt

Joel Greenblatt

Last Update: 08-15-2016

Number of Stocks: 935
Number of New Stocks: 244

Total Value: $8,342 Mil
Q/Q Turnover: 35%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Joel Greenblatt Watch

  • Predictable Companies Increase Value Opportunities

    During the 2008 financial crisis, many investors suffered great losses as the stock market tumbled to historical lows.

    However, the aftermath of the crisis presented good opportunities to “buy good stocks at fair prices,” the core of Warren Buffett (Trades, Portfolio)’s investing strategy. After backtesting Buffett’s strategy for the 10-year period from 1998 to 2008, GuruFocus discovered that predictable companies generally outperformed companies that experienced operating losses in the past 10 years.


  • 6 Worst Performing Stocks Among Guru Portfolios

    While gurus are still holding stakes in these companies, the price of the stock and returns of the investors are dropping. These are the worst performing stocks over the last 6 months that have a long-lasting presence in four or more gurus’ portfolio.

    US Concrete Inc. (USCR) reports a negative performance over the last 6 months with a price drop of -82.8%. Despite this, four mutual funds are holding the company with a total weight of 0.02% on their portfolio.


  • Joel Greenblatt Adds to United Rentals

    Joel Greenblatt (Trades, Portfolio) tripled his stake in United Rentals (NYSE:URI) during the second quarter. The guru added 559,604 shares of the company at an average price of $65.25. The trade had a 0.45% impact on Greenblatt’s portfolio. He now owns 746,158 shares of the company. Since Greenblatt's purchase, the company’s market price has risen by an estimated 24%.

    United Rentals was founded in 1997 in Delaware. The company has since built its way up to becoming the largest equipment rental company in the world, with over 880 rental locations located in 49 states, as well as 10 Canadian provinces. The company has approximately 3,300 classes of equipment available for rent to customers which include construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities.


  • Cisco: Margin of Safety and the Internet of Things

    Cisco (NASDAQ:CSCO) builds the hardware that powers the Internet. In fact, most of the Internet runs through a Cisco device. Today, that’s a profitable business for the company and one it intends to keep growing.

    At the beginning of the year, Cisco acquired Jasper Technologies, a platform to build applications for the Internet of Things, for $1.4 billion to integrate with the company’s cloud business unit. Currently, it has over 5,000 clients including Amazon (NASDAQ:AMZN), Ford (NYSE:F), Vivint (NYSE:VSLR) and General Motors (NYSE:GM).


  • GNC is a Joel Greenblatt Bargain Walking a Tight Rope

    GNC is a retailer of health supplements and it is teetering. Greenblatt has a small 298,000 share position (0.09% of assets) in the company, but other big money like Steven Cohen (Trades, Portfolio), Jim Simons (Trades, Portfolio), and Paul Tudor Jones (Trades, Portfolio) have all sold out.

    In the last twelve months, the company has generated $204 million in net income on $2.6 billion in sales. It pays a tidy 4% dividend and presents a very solid buying opportunity below $20 a share. The current market cap is $1.33 billion, down 36% on the year. The recent drop comes off the news former CEO Mike Archbold is leaving the company and that Robert Moran will take over his duties on an interim basis, but let’s back up a moment.


  • Joel Greenblatt Doubles Down on Accenture

    Joel Greenblatt (Trades, Portfolio) more than doubled his holding in Accenture (NYSE:ACN) purchasing 120,060 shares for an average price of $115.96 per share during the second quarter.

    The trade had a 0.16% impact on Greenblatt’s portfolio. He now owns 231,075 shares in the company.


  • Wilbur Ross Gets FIT

    Wilbur Ross (Trades, Portfolio) of Invesco Private Capital (Trades, Portfolio) acquired a new holding in Fitbit Inc. (NYSE:FIT) during the second quarter.

    Ross founded WL Ross & Co. in 2000, which was acquired by Amvescap in 2006 to form Invesco. Ross is known for distressed investing and has been involved in restructuring failed companies in various industries such as steel, coal, telecommunications, foreign investment and textiles. In August 2014, Forbes listed his net worth at $2.9 billion.


  • Joel Greenblatt Buys Fox, ConAgra and Intuit

    During the second quarter, Joel Greenblatt (Trades, Portfolio) of Gotham Asset Management LLC acquired three new holdings. They are Twenty-First Century Fox Inc. (NASDAQ:FOXA), ConAgra Foods Inc. (NYSE:CAG) and Intuit Inc. (NASDAQ:INTU).

    Greenblatt is the founder and portfolio manager of Gotham Asset Management. He is the creator of Magic Formula Investing, which emphasizes high return on capital (ROC) and earnings yield. He also founded the New York Securities Auction Corp. (NYSAC) and is an adjunct professor at Columbia Business School. The firm holds stock in 935 companies and is worth $8.3 million. The turnover rate is 35%.


  • Keeley Asset Management Gains 3 in 2nd Quarter

    During the second quarter, Keeley Asset Management Corp. acquired three new holdings. They are Nexstar Broadcasting Group Inc. (NASDAQ:NXST), Voya Financial Inc. (NYSE:VOYA) and Shire PLC (NASDAQ:SHPG).

    Nexstar Broadcasting Group


  • Gurus' Stocks With Negative 3 Months Returns

    While gurus are still holding stakes in these companies, the prices of the stocks and returns of the investors are dropping. These are the worst-performing stocks over the last six months that have a long-lasting presence in more than four gurus’ portfolio.

    Key Energy Services Inc. (KEGX) reports a negative performance over the last three months with a price drop of 87.1%. Regardless of this, four mutual funds are holding the company with a total weight of 0.02% on their portfolios.


  • The Value Screeners: How Do They Offer Investment Insights?

    In August 2013, GuruFocus started tracking how many company stocks made each of the value screeners across various regions. Three years later, GuruFocus expanded its content to over 100,000 stocks across eight regions.

    Instead of analyzing the stocks individually, investors can screen for companies that meet certain criteria by implementing the value screeners. Additionally, these value screeners can predict which regions have undervalued stock markets.


  • Worst Performance YTD: MasterCard, Lazard

    Thanks to the GuruFocus All-In-One screener, we selected the worst performing stocks of the year that have solid performances over the past 10 years and guarantee profitability and a solid financial situation.

    BP Prudhoe Bay Royalty Trust. (BPT) reports a negative performance year-to-date with a price drop of -28.5%.


  • Eugene Cassis Sells Waters Corp.

    Eugene Cassis (Insider Trades), CFO of Waters Corp. (WAT), sold 48,000 shares of the company on Aug. 1. The average price per share was $159.96, for a total transaction of $7,678,080.

    Waters Corp. produces ultra performance liquid chromatography, liquid chromatography and related instruments for pharmaceutical, biotechnology, industrial, university and government laboratories. The company has a market cap of $12.71 billion.


  • Fitbit, A Leading IoT Investment

    When legends like Steven Cohen, George Soros (Trades, Portfolio), Jim Simons (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio), all buy into a stock during the most recent quarter, it is worth taking note. Fitbit (NYSE:FIT) offers a great long-term growth opportunity at this price.

    The wellness craze continues and Fitbit is at the center of it. The company provides fitness tracking devices (wearables) and a community (social) network platform for people to reach their fitness goals.


  • Sometimes It Is Good to Buy the Biggest. But Should You Buy the Biggest Health Care Distribution Business?

    2016 Investor Day presentation, June 29, 2016 

    The McKesson Corp. (NYSE:MCK), which distributes pharma products and medical supplies (and more), is the 11th largest company on the Fortune 500 list. It’s currently a bargain, at least compared to what it used to be.


  • Greenblatt Sparkles in Growing Retail Industry

    Among consumer cyclical companies that trade on the New York Stock Exchange and the Nasdaq, three retail companies, Bed Bath & Beyond Inc. (NASDAQ:BBBY), Winmark Corp. (NASDAQ:WINA) and Hibbett Sports Inc. (NASDAQ:HIBB) have high Greenblatt earnings yield and return on capital. This suggests that these companies have high value potential based on Greenblatt’s magic formula.

    Greenblatt and His “Magic Formula”


  • Long-Term Upside With Jones Lang LaSalle

    With roots dating back to 1783, Jones Lang LaSalle (NYSE:JLL) has become one of the world’s largest commercial real estate companies. Headquartered in Chicago, the former London auctioneer’s business now spans the world. Down 33% year to date, the stock presents a very interesting long-term buying opportunity in a really great business.


  • A Buy Opportunity in the 2nd Half of the Year

    Bank of America (NYSE:BAC) beat earnings estimates, but Goldman Sachs Group Inc (NYSE:GS)'s stock has dropped more than 1% yesterday on the back of the bank posting its financial results for the second quarter, which ended June 30. The bank reported a revenue decline of 12.6% year-over-year to $7.93 billion, caused by an 11% decline in investment banking revenue and a 17% decline in underwriting revenue. Further, the financial advisory revenue of $794 million was down 3% as M&A slowed down. Despite those figures, the results exceeded the analysts’ estimates by 72 cents in EPS and also beat revenue expectations by $350 million.

    Apart from quarterly results, the bank is working to make savings of $700 million in a cost-savings program which will offset the revenue slowdown. Goldman Sachs is also focusing on investment management because of its stable business that has almost doubled since the financial crises. Other areas such as retail and commercial banking are also important drivers for future growth.


  • 'Quantitative Value' Makes Case for Approach to Value Investing

    In "Quantitative Value," Wesley Gray and Tobias Carlisle make a compelling case for a purely quantitative approach to value investing. As the title appropriately conveys, the book equally emphasizes the benefits of applying a value investing approach along with the advantages of using quantitative analysis to select investments.

    Sound, fundamental analysis


  • Paychex Insider Sells Nearly 66,000 Shares in Company

    Martin Mucci (Insider Trades), CEO and president of Paychex Inc. (PAYX), sold 65,965 company shares on July 7. The price per share was $60.63 for a total transaction of $3,999,458.

    Paychex provides human capital management solutions for payroll, human resources, retirement and insurance services. The company has a market cap of $22.11 billion and a P/S ratio of 7.49.


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