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

  • Download February Issue of Micro-Cap Magic Formula Newsletter

    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.  


  • Weekly CEO Buys Highlight: BH, TRCR, SHOR, IEC, UNIS

    According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below:

    Biglari Holdings (BH): Chairman and CEO, 10% Owner Sardar Biglari, Bought 3,000 Shares  


  • Hittite Microwave: Debt-free, 74% of Total Assets in Cash and Historical Return of 37x the S&P 500

    As described by Warren Buffett on the performance of the great businesses over time, the return on equity is one of the important figures as well as indicators for great investment opportunities in the long run. On the search for them, I personally thought that if a certain business has a record of increasing their revenues over time, improving profitability over time, including impressive double-digit return on equity, and consistent growing cash positions, it would fit nicely in a basket of long-term investment opportunities.

    One of the stocks which meets all these criteria is called Hittite Microwave Corporation (HITT), the company involved in designing and developing high-performance integrated circuits, modules, subsystems and instrumentation for technically demanding radio frequency microwave and millimeter wave application. The business is supported strongly by the global demand for mobile communication services and for real-time access to diverse type of data. The systems could be integral to wireless networks such as cellular telephone, fixed wireless and satellite communication systems, as well as wired networks such as cable TV, broadband access and optical data networks.  


  • Joel Greenblatt - Adding Your Two Cents May Cost a Lot Over the Long Term

    Managing partner of Gotham Asset Management, professor and author of "The Magic Formula" Joel Greenblatt discusses why people using his Magic Formula underperformed professionally managed systematic accounts in his latest Morningstar article:  


  • January Issue of Micro-Cap Magic Formula Newsletter Is Ready for Download

    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.  


  • Medifast – 5-Star Predictability Rating Stock That Can Be Bought Cheaper Than Price Joel Greenblatt Paid

    I’ve was very impressed by one of the Value Strategies on GuruFocus.com, which is Undervalued Predictable Companies. As following the site, it is the most outperforming the S&P compared to other strategies since Inception. Whereas the Buffett-Munger Screener top 25 returned 64.5% since 2009, the Top 25 Undervalued Predictable Companies returned a breathtaking 87.4%.

    The way GuruFocus ranked the predictability level based on the consistency of the revenue per share and EBITDA per share over the past 10 years, and on the correlation between stock performance and the predictability of the business. Indeed, as Warren Buffett say, in the short term, we should not care about the movement of the stock price. But over the long run, the stock price does reflect the fundamentals of the business. For stocks receiving a 5-star ranking, the average annualized gain in the period of 1998-2008 was 12.1% and only 3% that were in loss in that 10-year holding period. So I begin to search for 5-star predictability, combined with sustainable earnings and cash flows, trading at reasonable prices that plunged for a year.  


  • Very Low P/E Stocks Joel Greenblatt selected

    Greenblatt is founder and managing partner of Gotham Capital. He has become widely known for the creation of the Magic Formula, by means of which he tries to find cheap and good companies. He looks for value with a catalyst. Greenblatt likes special situations, and thinks that they are simply different places to find cheap stocks.

    This Magic Formula embodies the following basic principles: Look for high ROC and high earnings yield; figure out what "normalized earnings" will be 3-4 years into the future; make sure the stock is very cheap based on normalized earnings. He considers that it is worth concentrating in investing in 5 to 8 securities, which can make up 80% of his portfolio. One position could be as high as 30%.  


  • Kraft Spin-Off Appears Profitable for Shareholders

    Back in August 2011 Kraft (KFT) announced its plan to split into two companies — a high-growth global snacks business with estimated revenue of approximately $32 billion and a high-margin North American grocery business with estimated revenue of approximately $16 billion.

    The company expects to create these companies through a tax-free spin-off of the North American grocery business to Kraft Foods shareholders. Global snacks will consist of the current Kraft Foods Europe and Developing Markets units as well as the North American snacks and confectionery businesses. The North American grocery business would consist of the current U.S. Beverages, Cheese, Convenient Meals and Grocery segments and the non-snack categories in Canada and Food Service. The spin-off to be completed in 12 months with new companies to be launched before year-end 2012.  


  • Joel Greenblatt’s New Magic Formula Portfolio Update

    Joel Greenblatt runs four mutual funds based on the magic formula he invented. Over the past year his US Value 1000 fund and US Value Select Fund outperformed the market. The Select Fund outperformed by more than 6% during the last 12 months.

    As of 09/30/2011, Mr. Greenblatt’s firm Gotham Capital owns 588 stocks with a total value of $614 million. These are the details of the buys and sells that have the impact to portfolio of more than .1%.  


  • CACI International (CACI): Growing Niche Defense Contractor with a Checkered Past

    CACI International is an IT and professional services company primarily serving the U.S. federal government and the Department of Defense. The company was founded in 1962 by two former RAND Corporation employees, Herb Karr and Harry Markowitz (who should be familiar to investors as the father of the efficient market hypothesis). Today the company is headquartered in Annandale, Va. and employs 13,700 people worldwide.

    CACI provides enterprise IT and network services; data, information and knowledge management services; business systems solutions; logistics and materials readiness services; C4ISR solutions and services; cyber security; integrated security and intelligence solutions; and program management and system engineering and technical assistance (SETA) services.  


  • Investing in low P/E stock requires due diligence

    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.  


  • Jos. A. Bank Clothiers Inc. (JOSB): Luxury Retailer Results at Department Store Prices

    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.  


  • Joel Greenblatt Interview – The Resilience of Hedge Funds



  • Joel Greenblatt Talks About His Favorite Stocks

    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.

      


  • Joel Greenblatt Interview With Steve Forbes

    Lengthy interview with Joel Greenblatt

      


  • Value Ideas Contest: Dolby Labs ($DLB) Priced for Zero Growth

    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.  


  • Joel Greenblatt Video with His Favorite Current Stock Picks

    "It’s a very scary time to invest, and that’s when you get your best bargains," Greeblatt told CNBC Tuesday.  


  • Making Money with Joel Greenblatt Bargains: Educational Stocks (ESI, DV, STRA, APOL)

    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.  


  • Is Medtronic a Value Stock?

    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.  


  • Is Philip Morris a Tech Growth Stock with Dividends?

    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.  


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