Joel Greenblatt

Joel Greenblatt

Last Update: 2014-11-14

Number of Stocks: 970
Number of New Stocks: 186

Total Value: $10,053 Mil
Q/Q Turnover: 45%

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

Joel Greenblatt Watch

  • Another Great Tobacco Buy

    A few days ago I wrote an article recommending British American Tobacco (BTI) because of its outstanding dividend, its presence in emerging markets such as Brazil and its determination to boost its below industry average margins. Now, I will take a look at a company which (1) Its more concentrated in the ailing European Market but (2) Is the most obvious M&A candidate within the big tobacco companies. Let's take a look at Imperial Tobacco (ITYBY) and try to make a compelling investment case for this big tobacco company.


    On Valuation, performance and cash dividends

      


  • A Tobacco Giant Worth Your While

    The tobacco industry is one of the most profitable markets for investors, given its large margins and shareholder returns. However, these past few years governments all over the world have been tightening up on regulatory laws and raising taxes, therefore reducing consumer volume of cigarettes. But the largest tobacco company worldwide, supported by investment gurus Joel Greenblatt (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio), has successfully sustained its product demand and steadily increased revenue. So, let’s take a look at its business model and what the future holds in store.


    A Powerful Brand Portfolio and Emerging Market Presence

      


  • Joel Greenblatt on CNBC

    Joel Greenblatt on CNBC: "Expecting big returns".


      


  • Weekly Three-Year Low Highlights: AGI, ARO, WTSL, MRGE

    According to GuruFocus list of three-year lows; Alamos Gold Inc, Aeropostale Inc, Wet Seal Inc, and Merge Healthcare Inc have all reached their three-year lows.


    Alamos Gold Inc. (AGI) Reached the Three-year Low of $10.15

      


  • Willy and His Chocolate Factory: A Parable on Guru Valuation

    Adapted from The Old Man and the Tree: A Parable On Valuation Solomon, Schwartz & Bauman, Corporations - Cases and Materials at 143 (3d ed. 1996) and here


    Once there was a wise guy named Willy who owned a chocolate factory. This chocolate factory was very fine indeed and Willy thought it was beyond imagination. It served the region and customers enjoyed the chocolate he produced. Last year the chocolate factory produced 16 million pounds of chocolate for $28 million. The factory recently had a special marketing tactic that went awry. Although Willy was a chocolatier at heart, he wanted to retire. He decided to see how much he could sell his chocolate factory for, so he went put an ad in the classifieds of the newspaper entitled: “For sale, chocolate factory - best offer.”

      


  • Joel Greenblatt - The Little Book That Still Beats the Market



  • An Efficient and Aggressive Company in the Tobacco Industry

    On Sept. 30, David Winter added Lorillard Inc. (LO). I think he is making a bet that sales will increase based on higher volumes and higher pricing in a tobacco industry which is extremely competitive. So let's take a look at this company and try to explain to investors the reasons this is an apparently appealing investment opportunity.


      


  • AMC Networks: A Profitable Future?

    The pay TV industry is one of the toughest businesses, with some of the highest entry barriers worldwide. AMC Networks Inc. (AMCX) is one of the few cable networks that managed to upgrade its status and reputation, and turn into one of the most popular television content producers and distributors in the United States.


    Laying the Canvas

      


  • Time Warner: Television at Its Best

    Time Warner Inc. (TWX) is one of the largest video content creators and distributors in the world. Apart from owning popular television networks like HBO, TNT, CNN and the CW, this media giant is also established in the film industry. With Warner Bros. and New Line Cinema combining into the largest global filmmaker, this firm is several steps ahead of its competition in more than one way.


    Television at Its Best

      


  • Dover Spin-Off Analysis

    As I analyzed the investment decisions that I have made last year, I’ve come to realize that the one that made me most money and the one that would have made me a lot of money had I not been sucking my thumbs while I should be acting are both spin-off situations. Come to think of it, there were actually a good amount of spin-offs last year, but I only took the time and effort to analyze a few. As Joel Greenblatt noted, “The spin-off process itself is a fundamentally inefficient method of distributing stock to the wrong people.” If the extra profits are inherently built into the system, why not spend more time fishing in this area? Therefore, I plan to dig a little bit more into spin-offs during 2014.


    In this article, I will analyze a spin-off opportunity that I am currently watching closely. The final details have not come out yet but by preparing ourselves to the greatest extent, we will be ready to act when the opportunity comes.

      


  • New Magic Formula Stocks From Joel Greenblatt: URS, Nabors Industries, Pilgrims Pride, NeuStar, Tyson Foods

    Renowned value investor, the inventor of magic formula investing, Joel Greenblatt just reported his third quarter portfolio. His magic machine is in full swing as he bought a lot of new stocks, and added to the existing ones. Since incepted in May 2009, his US Value Direct Composite portfolio has outperformed the S&P 500 by 24%.

    As of 09/30/2013, Gotham Capital owns 881 stocks with a total value of $3.1 billion. These are the details of the buys and sells that have the impact to portfolio of more than 0.2%.  


  • Cheesecake and Baked Goods Fight over Market Leadership

    The $31 billion fast-casual restaurant industry is a viable option for most middle-class citizens with a knack for cuisine. Between Mexican grills, quick service diners and bakery-cafes, the variety is endless. However, the Cheesecake Factory (CAKE) and Panera Bread Company (PNRA) demonstrate that market expansion and management are key elements to success in the industry.

    [b]Cheesecake Doesn’t Make the World Go Round  


  • Why You Shouldn’t Overlook These Fast Food Giants

    The quick service restaurant industry has been growing consistently, since the day McDonald’s Corporation (MCD) appeared in 1940. Over 70 years have passed, and the number of chain restaurants has increased vastly. Despite intense market competition, other players have risen to the challenge and succeeded, like Dunkin Brands Group Inc. (DNKN). So let’s take a look at where these two companies currently stand.

    [b]Hamburgers and Coke Are a Safe Bet  


  • How to Seek a Winner in the Toy Industry

    The toy industry is known for high returns on invested capital, increasing dividend payouts, and constant share buybacks. However, there are also low barriers to entry that make for fierce competition while companies push for a greater market share. Hasbro (HAS) and Mattel (MAT) are the two largest players in the $22 billion U.S. toy industry, and are constantly reinventing themselves to maintain a leading position. As customer preferences change, largely due to the predominant role technology has acquired, these two firms have adapted differently to the changing scenario.

    [b]An Industry Giant Struggling to Adapt to a New Audience  


  • Who Is the Winner in an Apparel Battle? Could It Be You?

    Apparel brands are increasing their investments in company-owned retail, new product lines, e-commerce and international expansion. The S&P Apparel, Accessories & Luxury Goods Index advanced 23.4% year to date. So let's take a look at two companies in the apparel sector and see which one is doing better and thus stands as the best investment.

    Abercrombie & Fitch Co. (ANF) specializes in lifestyle branding and operates over 1,000 retail apparel stores across four brands. This apparel retailer focuses on improving sales via new brands, store expansion, comparable store sales increases and e-commerce. A company key driver is the ability to develop and grow casual luxury youth apparel/lifestyle brands in a difficult retail environment where the firm has little protection to its position. However, unemployment rates for teenagers are a factor to consider when assessing the business.  


  • Two Manufacturing Giants Set for Long-Term Growth

    Consumer goods manufacturing giants such as Unilever PLC (UL) and Procter & Gamble Co (PG) benefit from the global diversification of their operations. While Europe is still suffering from macroeconomic problems, emerging markets have shown strong growth rates, allowing the companies to offset weak performance at other regions. However, as developing markets grow at an accelerated pace, the elevated demand for raw materials has led to short-term constraints. Less exposure to the European market and cost-cutting initiatives in emerging markets leaves Procter & Gamble in a better position than Unilever PLC looking forward.

    Uncertainties Tarnish Growth Prospects  


  • Joint Venture: Value Proposition? A Look at the Aluminum Industry

    A main factor affecting demand for aluminum products is economic growth and, in particular, demand for durable goods. The three largest end markets for aluminum in North America are transportation, containers/packaging, and construction. If the price of aluminum in 2013 falls below 2012's levels, this will cause earnings to be lower. So let's take a look at two companies in this sector and see which one is doing better and thus stands as the best investment.  


  • Thinking Differently: The Most Important Contrarian Behavior

    “I skate to where the puck is going to be, not where it has been.” - Wayne Gretzky

    One of the most important skills that you can develop as an investor is the ability to think differently. This is a broad topic with many interpretations. I often talk about thinking differently here at BHI. When it comes to general philosophy or “investment theory” (as opposed to thinking about individual stock investments), I spend more time thinking about this topic than any other. In short, I’m referring to the ability to think in a contrarian manner.  


  • Bargains for Weekend Thrifters

    Heading into the weekend, thrifters can use the GuruFocus Guru Bargains feature to find treasures in every sector. Here’s a close-up look at are four diverse companies in medical care, real estate, tobacco, and restaurants that have dropped significantly since billionaires bought in the second quarter of 2013.
    Aviv REIT Inc. (AVIV) - Yield 3.20%   


  • Some Thoughts on Joel Greenblatt's Magic Formula and Its YTD Results

    "Value investing is simply figuring out what something is worth and paying a lot less for it" - Joel Greenblatt

    I often describe my investment philosophy as a synthesis of ideas from Ben Graham, Walter Schloss, Warren Buffett and Joel Greenblatt. At the core of my strategy is Graham and Schloss' quantitative methods for valuing stocks. It's far more difficult to make mistakes when you simply make obvious, simple decisions based on valuation. In each investment, I want to ensure I'm not taking on valuation risk. Many investors (including most value investors) overly complicate things and this can often lead to counterproductive results. That's why many smart guys get mediocre results. They try too hard.  


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