Joel Greenblatt

Joel Greenblatt

Last Update: 02-14-2017

Number of Stocks: 926
Number of New Stocks: 237

Total Value: $7,757 Mil
Q/Q Turnover: 33%

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 Gotham Absolute Return Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
20167.9611.96-4.0
2015-10.241.38-11.6
20149.3113.69-4.4
3-Year Cumulative5.9 (1.9%/year)29 (8.9%/year)-23.1 (-7%/year)
201329.8132.39-2.6

Top Ranked Articles

Calculating the Return on Incremental Capital Investments As a business owner, you want to know where you can reinvest your company’s excess cash flow and what rate of return you can get from those investments.
“Leaving the question of price aside, the best business to own is one that over an extended period can employ large amounts of incremental capital at very high rates of return.” –Warren Buffett (Trades, Portfolio), 1992 Shareholder Letter Read more...
On Diversification Diversification is not an easy subject, but by analyzing data and applying some logic you can narrow down an optimal strategy
​The age-old question of exactly how many stocks to hold is likely never going to be definitively answered. There are entire books, even courses, on the subject after all. Since portfolio construction is more of an art than a science, in this post I want to break down relevant studies, examine historical data and analyze some of the best investors in an attempt to come up with the optimal strategy. As always, please share your comments and thoughts below! Read more...
Does Joel Greenblatt’s Magic Formula Have a Solution for Value Investors? Exploring the Magic Formula and assessing its potential
When investment guru Joel Greenblatt (Trades, Portfolio) taught at an Ivy League college, he would welcome each new class with a request: Shout out the names of big, well-known public companies. After getting the names, Greenblatt would pull out a newspaper (yes, we depended on newspapers for that sort of thing in the not so distant past), then announce the current price, the 52-week low and the 52-week high for each of them. Read more...
18 Questions With John Huber of Saber Capital Management Goal: 'Make meaningful investments in high-quality businesses at attractive prices'
1. How and why did you get started investing? What is your background? Read more...
25 Questions With Chris DeMuth Jr. of Rangeley Capital 'If it is legal and there is limited liability, I would be delighted to invest in anything at the right price'
Chris DeMuth Jr. is the founder of Rangeley Capital LLC. Rangeley is an investment firm that focuses on event-driven, value-oriented investment opportunities. Rangeley Capital and DeMuth's value investing forum, Sifting the World (StW), search the world for misplaced bets. Rangeley exploits them for its investors and DeMuth writes about them on StW Read more...
» More Joel Greenblatt Articles

Commentaries and Stories

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7 Stocks That Are Beating the Market These stocks had great 12-month performances Jim Simons, Joel Greenblatt, Steven Cohen, - 7 Stocks That Are Beating The Market
According to GuruFocus' All-in-One Guru Screener, the following are some of the stocks that have outperformed the Standard & Poor's 500 Index over the last 12 months and were bought by gurus during the last quarter. More...

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AbbVie Declares Quarterly Dividend Analysts forecast increases in 2017 EPS and sales David Dreman, Joel Greenblatt, Mario Gabelli, Ken  - AbbVie Declares Quarterly Dividend
AbbVie Inc. (NYSE:ABBV) annouced a quarterly dividend of 64 cents per share on Feb. 16. More...

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8 of the Worst Stocks in Gurus' Portfolios Investors are buying and holding these stocks with negative returns Jim Simons, Joel Greenblatt, Chuck Royce, Mariko G - 8 Of The Worst Stocks In Gurus' Portfolios
While gurus hold positions in these companies, the stock price and returns continue to fall. These are the worst-performing stocks over the last three months with a long-term presence in more than four gurus’ portfolios. More...

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10 Questions With Value Investor T. Aaron Brown 'I'll sell my position for a loss, admitting I'm wrong, when an event materializes that was counter to my thesis' Joel Greenblatt,Bill Ackman - 10 Questions With Value Investor T. Aaron Brown
1. How and why did you get started investing? What is your background? More...

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AbbVie's Hepatitic C Treatment Under Accelerated Review by EMA Treatment is still waiting for FDA approval David Dreman,Joel Greenblatt - AbbVie's Hepatitic C Treatment Under Accelerated Review By EMA
 AbbVie Inc. (NYSE:ABBV) announced Tuesday through the PR Newswire that the European Medicines Agency has validated its marketing authorization application. The company's application seeks permission to rapidly bring its “investigational, pan-genotypic regimen of glecaprevir (ABT-493)/pibrentasvir (ABT-530) (G/P)” to the market. More...

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Altria Buys Sherman Group Holdings Acquisition adds premium products to company's smokable segment Joel Greenblatt,Barrow Hanley Mewhinney & Strauss, - Altria Buys Sherman Group Holdings
Altria Group Inc. (NYSE:MO) announced through the Business Wire the acquisition of the privately held Sherman Group Holdings and its subsidiary companies. The conditions of the deal are undisclosed. More...

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Undervalued Stocks Trading Below Peter Lynch Value Gurus are buying these companies First Eagle Investment,Joel Greenblatt,Mario Gabel - Undervalued Stocks Trading Below Peter Lynch Value
According to GuruFocus' All-in-One Screener, several gurus are focusing on stocks whose Peter Lynch fair values are far above the current prices. The following stocks are trading with wide margins of safety and at least five gurus are shareholders. More...

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Eldorado Gold Reports Preliminary Operating Results for 2016 Gold production for the year slightly lower than expected Charles Brandes,Joel Greenblatt - Eldorado Gold Reports Preliminary Operating Results For 2016
Eldorado Gold Corp. (NYSE:EGO) announced its preliminary operational results for 2016 and its guidance for 2017 last Friday. More...

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Harmony Merger Inks Deal Greenblatt Favors Company and special adviser make their move by merging with MUNDOmedia Joel Greenblatt,Seth Klarman - Harmony Merger Inks Deal Greenblatt Favors
Harmony Merger (NASDAQ:HRMN) came public as a blank check company – a company with nothing but cash and the intentions of making an acquisition. More...

JOEL GREENBLATT


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Valero Energy Upgraded by Bank of America Merrill Lynch Deutsche Bank downgraded the energy stock from Buy to Hold the same day Joel Greenblatt,Ron Baron,David Dreman,Ken Fisher - Valero Energy Upgraded By Bank Of America Merrill Lynch
Valero Energy Corp. (NYSE:VLO) got two opposite ratings Jan. 5. More...

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British American Tobacco Deal With Reynolds American Hits Road Bump British American hopes to buy American tobacco producer for $56.50 per share Joel Greenblatt,Ken Fisher - British American Tobacco Deal With Reynolds American Hits Road Bump
A deal for British American Tobacco (BTI) to buy the rest of Reynolds American (NYSE:RAI) for $47 billion in cash and stock, has run into an unexpected problem, as reported by the website StreetInsider.com More...

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Lannet's Lopinavir, Ritonavir Approved to Treat HIV in US Company’s protease inhibitors are equivalent to AbbVie’s Kaletra oral solution Joel Greenblatt,Ken Fisher,Ronald Muhlenkamp - Lannet's Lopinavir, Ritonavir Approved To Treat HIV In US
Lannet Co. Inc. (NYSE:LCI) announced through the PRNewswire Tuesday that its “Lopinavir and Ritonavir Oral Solution USP, 80 mg/20 mg per mL” has been approved by the U.S. Food and Drug Administration (FDA) to be produced and sold in the U.S. as a generic drug. More...

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20 Questions With Value Investor Victor Huynh 'Depending on the nature of the business, I would value it based on its asset valuations, then earnings power, then growth potential' Joel Greenblatt,Warren Buffett - 20 Questions With Value Investor Victor Huynh
1. How and why did you get started in investing? What is your background? More...

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How to Invest in Gold in 2017 Part 5 Eldorado Gold will benefit from mine development and strengthening its balance sheet Charles Brandes,Joel Greenblatt - How To Invest In Gold In 2017 Part 5
Gold for immdediate delivery witnessed a significant jump today. The precious metal increased by 1.08% on the London Bullion Market, up $12.2 per troy ounce to $1,146.80 per troy ounce from yesterday's closing price of $1,134.60. More...

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25 Questions With Tom Vilord of Vilord Wealth Advisors '99% of the people wouldn’t follow' a checklist from Warren Buffett for analyzing a company Warren Buffett,Joel Greenblatt,Seth Klarman,Mohnis - 25 Questions With Tom Vilord Of Vilord Wealth Advisors
1. How and why did you get started investing? What is your background? More...

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25 Questions With Chris DeMuth Jr. of Rangeley Capital 'If it is legal and there is limited liability, I would be delighted to invest in anything at the right price' Joel Greenblatt - 25 Questions With Chris DeMuth Jr. Of Rangeley Capital
Chris DeMuth Jr. is the founder of Rangeley Capital LLC. Rangeley is an investment firm that focuses on event-driven, value-oriented investment opportunities. Rangeley Capital and DeMuth's value investing forum, Sifting the World (StW), search the world for misplaced bets. Rangeley exploits them for its investors and DeMuth writes about them on StW More...

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18 Questions With John Huber of Saber Capital Management Goal: 'Make meaningful investments in high-quality businesses at attractive prices' Warren Buffett,Joel Greenblatt,Seth Klarman - 18 Questions With John Huber Of Saber Capital Management
1. How and why did you get started investing? What is your background? More...

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Eldorado Gold Announces Approval of Revised Normal Course Issuer Bid by the TSX The miner can buy back up to 2,081,168 shares Charles Brandes,Joel Greenblatt - Eldorado Gold Announces Approval Of Revised Normal Course Issuer Bid By The TSX
Eldorado Gold Corp. (NYSE:EGO) (TSX:ELD) announced on Monday that The Toronto Stock Exchange has approved its revised normal course issuer bid (NCIB), which allows the Canadian miner to buy back its own shares “through the facilities of the TSX and also through alternate Canadian trading systems.” More...

GOLD, MINING, ELDORADO


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AbbVie Files for Approval of Hepatitis C Treatment in the US The application is backed by relevant results and the company will apply in Europe in the first quarter of 2017 David Dreman,Joel Greenblatt - AbbVie Files For Approval Of Hepatitis C Treatment In The US
AbbVie (NYSE:ABBV) announced today through PRNewswire that it has filed a New Drug Application (NDA) with the U.S. Food and Drug Administration for its “investigational, pan-genotypic regimen of glecaprevir/pibrentasvir (G/P).” More...

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How to Invest in Gold in 2017 Examining how gold stocks performed in the past year George Soros,Joel Greenblatt - How To Invest In Gold In 2017
With gold trending down, many investors interested in the industry are wondering which step to take. When the time comes, one of the ways to decide which gold mining stocks to invest in is analysing the characteristics of the gold industry and learning from the gurus’ moves. More...

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