Joel Greenblatt

Joel Greenblatt

Last Update: 2014-05-15

Number of Stocks: 994
Number of New Stocks: 229

Total Value: $6,641 Mil
Q/Q Turnover: 52%

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

Joel Greenblatt' s Profile & Performance

Profile

Known for the invention of Magic Formula Investing, and founder of the New York Securities Auction Corporation (NYSAC). Greenblatt is founder and managing partner of Gotham Asset Management, LLC. He is the author of two investment books, including Joel Greenblatt: The little Book that Beats the Market. He is also an Adjunct Professor with Columbia Business School.

Investing Philosophy

Greenblatt tries to find cheap and good companies. He looks for value with a catalyst, so nice things happen sooner. Greenblatt likes special situations, and thinks that they are simply different places to find cheap stocks. 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. He is very concentrated in investing, 5 to 8 securities can make up 80% of his portfolio. One position could be as high as 30%.

Total Holding History

Performance of U.S. Value 1000 Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201341.1931.559.6
201215.715.40.3
20112.072.08-0.0
3-Year Cumulative66.7 (18.6%/year)55 (15.7%/year)11.7 (2.9%/year)

Top Ranked Articles

Answers from Joel Greenblatt are Here!
(GuruFocus, June 30, 2009) Back in early June, when we became aware of Investment Guru, Joel Greenblatt became the strategist for the money management firm FormulaTrading.com, we reached out and requested an opportunity for our users to ask Joel questions. To our delight, the good professor (Joel is also an Adjunct Professor with Columbia University) agreed. Read more...
Magic Formula’s: Do As I Say, Not As I Do?
In my last articles, “Warren Buffett’s Magic Formula in 1965?” and “Benjamin Graham’s Lost Magic Formula in 1976?”, I explored the use of and/or public endorsement of investment formulas by value investors Benjamin Graham, Warren Buffett, Joel Greenblatt, and Mohnish Pabrai. Given such credible endorsements, I wondered three things: Read more...
GuruFocus Interview with Renowned Investor Joel Greenblatt
Joel Greenblatt is a renowned investor who invented Magic Formula Investing and founded the New York Securities Auction Corporation (NYSAC). He is the founder and Co-CIO of Gotham Capital, an investment partnership that achieved 40 percent annualized returns for the 20 years after its founding in 1985, and adjunct professor at Columbia Business School. Mr. Greenblatt has written three books on investing, including his most recent, "The Big Secret for the Small Investor." Read more...
Value Ideas Contest: Dolby Labs ($DLB) Priced for Zero Growth
Investment Thesis Read more...
Interview with Pat Dorsey
Pat Dorsey is the Vice Chairman and Director of Research & Strategy at the Sanibel Captiva Trust Company, an independent trust company serving high net worth clients, based in Sanibel, Florida. Before joining SanCap, Pat was Director of Equity Research at Morningstar for over ten years, where he was responsible for the overall direction of Morningstar’s equity research, as well as for communicating Morningstar’s ideas to the media and clients. He led the development of Morningstar’s economic moat ratings as well as the methodology behind Morningstar’s framework for competitive analysis. Pat is the author of two books––The Five Rules for Successful Stock Investing : Morningstar's Guide to Building Wealth and Winning in the Market and The Little Book That Builds Wealth: The Knockout Formula for Finding Great Investments[i]––and Read more...
» More Joel Greenblatt Articles

Commentaries and Stories

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AbbVie´s ROE: A Tremendous Ratio
In this article, let´s see one of the most important financial ratios applying to stockholders, the best measure of performance for a firm's management: the Return on Equity (ROE), and we are going to analyze it in the case of AbbVie Inc. (ABBV). More...

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Caterpillar Enjoys Key Growth Drivers
In this article let's take a look at Caterpillar Inc. (CAT), the world's largest producer of earthmoving equipment, and a big maker of electric power generators and engines used in petroleum markets, and mining equipment. More...

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The Sword-Finance, its Sheath-Accounting, and the Shield-Tax Planning: Lesson 1 When to Sell and Investing Tax Tips
More...

VALUE INVESTING, FUNDMENTAL ANALYSIS, TAXES, TAX PLANNING


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Top Insider Sells Highlight: Intel Corp
Exec VP and CFO of Intel Corp (INTC) Stacy Smith sold 614,432 shares on July 17 at an average price of $33.92. The total transaction amount is $20,841,532. More...

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5-year lows: FirstEnergy Corp, Staples Inc, Avon Products Inc, and American Eagle Outfitters
According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: FirstEnergy Corp, Staples Inc, Avon Products Inc, and American Eagle Outfitters More...

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Guru Held Stocks Trading Near Historical Low P/S Ratios PRIMECAP Management,Joel Greenblatt - Guru Held Stocks Trading Near Historical Low P/S Ratios
Buying stocks based on historical low price-to-sales (P/S) ratios has been shown to be an effective investment strategy. At GuruFocus our “Top 25 Historical Low P/S Ratio Companies” portfolio has outperformed the S&P 500 by 24.38 percent since its inception in 2010. Our portfolio is rebalanced once a year and can be viewed at GuruFocus.com. Below is the latest list of stocks that are trading near historical low P/S ratios and are widely held by the investing gurus we follow: More...

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Tupperware: A Different Bet on Emerging Markets RS Investment Management,Joel Greenblatt - Tupperware: A Different Bet On Emerging Markets
For many of us, the name Tupperware is as American as apple pie on the 4th of July. Yet, this iconic brand now does far more business outside of the U.S.A. than within it. Last year, 2013, it derived 90% of its revenue from international markets, and taking the analysis one step deeper, received 65% of revenue from emerging markets. More...

VALUE, LONG, EMERGING MARKETS, INTERNATIONAL, TUPPERWARE


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Top Insider Sells Highlight: Cardinal Health Inc.
CFO of Cardinal Health Inc (CAH) Jeffrey William Henderson sold 23,632 shares on July 14 at an average price of $70.65. The total transaction amount is $1,669,601. More...

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I Believe AstraZeneca Is Fairly Valued
AstraZeneca PLC (AZN), a $94.71 billion market cap company is a giant in the drug industry and has a trailing P/E ratio that indicates that the stock is relatively undervalued (22.7x vs 41.8x of industry mean). So in this article, let's take a look at a model which is applicable to stable, mature, dividend-paying firms and try to find the intrinsic value of the stock. Although the model has a number of characteristics that make it useful and appropriate for many applications, is by no means the be-all and end-all for valuation. The purpose is to force investors to evaluate different assumptions about growth and future prospects. More...

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Abner Herrman Is Increasing Position in the Pharmaceutical Sector
Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Abner Herrman & Brock LLC, which provides portfolio management for high net worth individuals, endowments, and corporate retirement plans. More...

13F


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Lockheed: A Buy According to Absolute and Relative Valuation Models
Lockheed Martin Corporation (LMT), a $50.37 billion market cap company that is the world's largest military weapons manufacturer, has a P/E ratio that indicates that the stock is relatively undervalued (16.5x vs 22.1x of industry mean). So in this article, let's take a look at a model which is applicable to stable, mature, dividend-paying firms and try to find the intrinsic value of the stock. Although the model has a number of characteristics that make it useful and appropriate for many applications, is by no means the be-all and end-all for valuation. The purpose is to force investors to evaluate different assumptions about growth and future prospects. More...

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Using Growth and Value for Stock Selection David Dreman,Joel Greenblatt - Using Growth And Value For Stock Selection
Value investors come in all shapes and sizes. From the Ben Graham followers who look at book value or underlying tangible net asset worth to those who apply a value mindset to work in other ways, including earnings growth. I fall into the latter category. More...

GARP, PETER LYNCH


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Guru Stocks at 52-Week Lows: DB, ROST, CNHI, OAK, JEC
According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows. More...

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PRAA: Still a Place for Debt Recovery
As the American economy recovers, we might ask if there will be enough defaulted loans for the debt recovery business to maintain its momentum, and in particular, for Portfolio Recovery Associates Inc. (PRAA) to continue growing. More...

VALUE, LONG, PORTFOLIO RECOVERY ASSOCIATES, FINANCIAL, DEBT RECOVERY


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To Bite or Not To Bite: That´s Luis Suarez and Adidas´ Question
In this article, let´s look at Adidas AG (ADDYY), the German multinational corporation that designs and manufactures sports shoes, clothing and accessories based in Herzogenaurach, Bavaria, which spent approximately $70M to sponsor the FIFA World Cup Brazil 2014. More...

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Top Hedge Fund Gurus Hold IBM, Should You Too?
In this article, let´s concentrate in International Business Machines Corp. (IBM), a major player in the hardware, software and services markets and has been Oracle (ORCL) ´s database rival. This giant has evolved from being a computer hardware vendor to a system, services and software company that focuses on integrated solutions. More...

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5-year lows: Sears Hometown & Outlet Stores Inc, Landauer Inc, EarthLink Holdings Corp, and Vocera Communications Inc
According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: Sears Hometown & Outlet Stores Inc, Landauer Inc, EarthLink Holdings Corp, and Vocera Communications Inc More...

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Whirlpool Continues to Be an Attractive Investment
In this article let's take a look at Whirlpool Corp. (WHR), the leading manufacturer and marketer of home appliances. More...

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5-year lows: Rentech Nitrogen Partners, Francesca’s Holdings, American Residential Properties , Silver Bay Realty Trust, and Western Asset Mortgage Capital
According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: Rentech Nitrogen Partners LP, Francesca’s Holdings Corp, American Residential Properties Inc, Silver Bay Realty Trust Corp, and Western Asset Mortgage Capital Corp More...

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Philip Morris Is a Leading Tobacco Maker in an Incredible Profitable Industry Jean-Marie Eveillard,Joel Greenblatt - Philip Morris Is A Leading Tobacco Maker In An Incredible Profitable Industry
In this article let's take a look at Philip Morris International Inc. (PM), the global tobacco giant that sells cigarettes in over 200 countries, which manufactures and markets the number one cigarette brand: Marlboro. More...

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