Joel Greenblatt

Gotham Capital

Last Update: 2013-05-15

Number of Stocks: 822
Number of New Stocks: 187

Total Value: $1,972 Mil
Q/Q Turnover: 29%

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Joel Greenblatt Watch

Investing in low P/E stock requires due diligence
by Chandan Dubey - Nov 05, 2011
It was December 2009 when I started investing and bought my first stock. I had read a few books before deciding to take the plunge, because they say you learn by trying. If you wait until you know everything about investing, you will never be able to do it. Continue Reading »
Jos. A. Bank Clothiers Inc. (JOSB): Luxury Retailer Results at Department Store Prices
by Ben Strubel - Nov 02, 2011
Jos. A. Bank (JOSB) appears on Gurufocus’ Buffett-Munger Screener. However, the stock is lightly held among Gurus with only Joel Greenblatt (.07% of assets) and Mario Gabelli (.01% of assets) having positions.

Jos. A. Bank Clothiers Inc. is a U.S.-based designer, manufacturer, retailer, and direct marketer of men’s tailored and casual clothing and accessories and is a retailer of tuxedo rental products. The company targets male career professionals with an emphasis on selling dress and business clothing. The company markets three main product lines: Jos. A. Bank Executive, Signature, and Signature Gold. The Executive and Signature lines feature cheaper fused construction suits, while the more expensive Signature Gold line features half canvas construction suits. The company also recently added a fourth line, the Platinum line, that features suits handmade in Italy. Stores also have an onsite tailor. Continue Reading »
Joel Greenblatt Interview – The Resilience of Hedge Funds
by CanadianValue - Oct 20, 2011

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Joel Greenblatt Talks About His Favorite Stocks
by Jacob Wolinsky - Oct 01, 2011
Details behind the "magic formula," and whether buying stocks that look the cheapest based on yield can continue this momentum, with Joel Greenblatt, Gotham Capital founder.

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Joel Greenblatt Interview With Steve Forbes
by Jacob Wolinsky - Oct 01, 2011
Lengthy interview with Joel Greenblatt

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Value Ideas Contest: Dolby Labs ($DLB) Priced for Zero Growth
by Bill Smith - Sep 30, 2011
Investment Thesis

Dolby Laboratories (DLB) is a company with excellent business economics. Although classified as a technology/media/broadcast company, it has a simple-to-understand business model, a highly profitable and value-creating business engine with a capable management team, and ROE averaging 20%. They are the leaders of high quality and immersive audio, have a moat, generate plenty of free cash flow as a result of very low capital expenditure requirements, and have no debt. Continue Reading »
Joel Greenblatt Video with His Favorite Current Stock Picks
by CanadianValue - Sep 27, 2011
"It’s a very scary time to invest, and that’s when you get your best bargains," Greeblatt told CNBC Tuesday. Continue Reading »
Making Money with Joel Greenblatt Bargains: Educational Stocks (ESI, DV, STRA, APOL)
by Jonathan Poland - Sep 26, 2011
President Obama gave his weekly radio and video address Saturday morning, calling education reform an essential part of economic recovery. While I think this view is built around hidden agendas and not reality, it does bring into focus the idea of higher learning as a business.

A recent Google Finance screen shows that four stocks in this industry that have seemingly rock solid valuations and have traded lower over the course of 2011. And, they are all owned by Joel Greenblatt. This could be a great combination for investors going forward. Continue Reading »
Is Medtronic a Value Stock?
by matsandalex - Sep 16, 2011
Medtronic (MDT) is one of the largest medical technology companies, with a market capitalization of over $35 billion. The company has significant market share in cardiovascular products such as pacemakers and heart valves.

The company has been appealing to value investors as its dividend yield is 2.9%,the P/E ratio is under 10, and the P/S ratio is 2.3. Furthermore, Medtronic had a annual average earnings growth of 10.1% over the past 10 years. Continue Reading »
Is Philip Morris a Tech Growth Stock with Dividends?
by matsandalex - Sep 01, 2011
Philip Morris International Inc. (PM) may be the ultimate dividend stock for retirees searching for yield. First of all, it is important to distinguish between PM and Altria (MO). Altria is the parent company of Philip Morris. PM operates in 180 countries and ex China owns 27.6% of the international market.

The company has a 3.7% dividend and earnings growth projected at over 10% per year. For investors who want exposure to emerging markets such as China and Korea, PM is a solid choice. Continue Reading »
August 2011 Issue of Micro-Cap Magic Formula Newsletter Is Ready
by gurufocus - Aug 21, 2011
Joel Greenblatt's magic formula has proven to be one of most popular and successful quantitative screens. By finding stocks with better than average return characteristics selling for below average prices, the screen has proven its ability to outperform the market.

However, the screen has one blind spot- stocks with a market cap under $50 million. Continue Reading »
Four Notable Top Buys of Joel Greenblatt in Second Quarter: AAPL, BBY, JOYG, VIA.B
by Holly LaFon - Aug 10, 2011
When he is not teaching as an adjunct professor at Columbia Business School, Joel Greenblatt runs Gotham Capital and writes best-selling books. Greenblatt is best known for crafting the Magic Formula Investing strategy used to help the average investor achieve success in the stock market. In his own hedge fund, Greenblatt uses the basic principals in the Magic Formula: Look for high ROC and high earnings yield. He tries to figure out what "normalized earnings" will be 3-4 years into the future. Greenblatt makes sure the stock is very cheap based on normalized earnings. Four of Greenblatt’s Top New Buys for the second quarter are: Apple (AAPL), Best Buy (BBY), Joy Global (JOYG) and Viacom (VIA.B).

Apple (AAPL) Continue Reading »
New Magic Formula Stocks from Joel Greenblatt (I)
by gurufocus - Aug 10, 2011
Renowned value investor Joel Greenblatt reported his portfolio as of the first quarter. He now runs three magic formula mutual funds, and these are the picks based on his magic formula. As of 06/30/2011, Gotham Capital owns 574 stocks with a total value of $715 million.

These are the details of the new positions that Joel Greenblatt added to his portfolio. Continue Reading »
Interview Stephen Penman — Columbia Business School Accounting Prof, Author of "Accounting for Value"
by Jacob Wolinsky - Aug 09, 2011
Stephen Penman is the George O. May Professor of Accounting at the Columbia Business School. He is the author of “Financial Statement Analysis and Security Valuation“, for which he received a Wildman Medal Award. He also recently authored a book titled "Accounting for Value." The book’s novel approach shows that valuation and accounting are much the same: Valuation is actually a matter of accounting for value. Stephen is also an editor of the Review of Accounting Studies.

Can you tell us a little bit about your background? Continue Reading »
Joel Greenblatt on "The Big Secret for the Small Investor" and Investing
by Humberto Fosado - Jul 13, 2011
Steve Forbes interviewed Joel Greenblatt about his latest book “The Big Secret For The Small Investor” in which Greenblatt refines the ideas presented in a previous book called “The Little Book That Beats The Market.” These are the notes from that interview.

About the book. Continue Reading »
Joel Greenblatt on "The Big Secret for the Small Investor" and Investing
by Humberto Fosado - Jul 12, 2011

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Lengthy Joel Greenblatt Interview Transcript
by CanadianValue - Jul 05, 2011
Steve Forbes sat down with Joel Greenblatt for an extended interview as follows:

Forbes: We had you on a little over a year ago, but since then you’ve come out with a new book called "The Big Secret." This follows another book that you had. Why two books for investor advice? Couldn’t you get it all in the first book, which was called "The Little Book That Beats the Market?" Continue Reading »
What Is in the GuruFocus Premium Membership?
by gurufocus - Jun 27, 2011
Over the years since we started in 2004, we have created many screens for our users to locate the best value investing ideas. With this article we would like to summarize these ideas.

We have added three monthly newsletters to the GuruFocus Premium Membership over the past three years. The newsletters are: Continue Reading »
Joel Greenblatt Article: Anyone—Even The Little Guy—Can Beat the Market
by joel greenblatt - Jun 14, 2011
From Registered Rep:

As most financial advisors know, the secret to successful investing is relatively simple: Figure out the value of something and then — pay a lot less. Unfortunately, as it turns out, it's really hard to figure out the value of a business. And finding good fund managers that can do the job for you — that can be just as difficult. There are several inherent reasons why this is so. Mutual fund managers have to do the things that private investors, such as me, can afford to do. We can own just a few stocks — say as few as 10 to 25 of our favorites — and we can choose stocks that are too small for big funds to buy and for Wall Street firms to follow. Also funds often get too big and charge too much to beat the market. Complicating things further, retail investors — even their financial advisors — are unwilling to hold a good manager when his style is, well, out of style. Of course, a big impediment to beating the market that all managers must overcome is fees. Most actively managed mutual funds charge fees and expenses based on the size of the fund, usually 1 percent to 2 percent of the total assets under management. This means that the more assets a fund has, the more money the management company makes. As you might suspect, this incentive to gather more assets isn't necessarily good for investors. Continue Reading »
How “Magic” is the Magic Formula?
by Wesley Gray - Jun 11, 2011
The underlying concept of the magic formula is a genius marketing platform, but it is unclear how “magic” the formula actually is–examine ‘cheapness,’ examine ‘quality,’ combine the analysis and buy the best value (get the most bang for your buck). The magic formula identifies quality via EBIT / (NPPE +net working capital) and cheapness via EBIT / TEV. These two measures are certainly not ‘bad’; however, they are also not necessarily optimal.

We are always exploring alternatives to the magic formula found in the academic literature. In fact, we highlighted the ‘academic version’ of the magic formula in the following post: Continue Reading »