Joel Greenblatt

Joel Greenblatt

Last Update: 08-15-2016

Number of Stocks: 935
Number of New Stocks: 244

Total Value: $8,342 Mil
Q/Q Turnover: 35%

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 (%)
2015-10.241.19-11.4
20149.3113.69-4.4
201329.8132.39-2.6
3-Year Cumulative27.4 (8.4%/year)52.3 (15.1%/year)-24.9 (-6.7%/year)

Top Ranked Articles

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...
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...
Which Industries Are Super Investors Dumping and Where Are They Shopping? Examining industries where guru buys are trending and industries where they go shopping
Like most value investors, I’m not really a macro guy. Read more...
Top 10 Books for the New Investor Everybody has to start somewhere
Everybody has to start somewhere, and oftentimes people find the idea of investing their hard-earned money by themselves to be a bit intimidating. Read more...
2015 Was a Good Year for Gun Companies Smith & Wesson says current quarter's sales could be 20% higher than expected
Whether it is due to President Barack Obama’s pledge to make gun control a centerpiece of his final year in office or a byproduct of terrorism, both foreign and domestic, and concerns about greater regulation, U.S. gun sales and permit applications have soared. Read more...
» More Joel Greenblatt Articles

Commentaries and Stories

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Gurus Invest in Undervalued Retail Companies Low EV ratios increase value potential Joel Greenblatt - Gurus Invest In Undervalued Retail Companies
Throughout the second quarter, several gurus have added to their positions in retail companies. Two apparel & specialty companies, eBay Inc. (NASDAQ:EBAY) and Gap Inc. (NYSE:GPS), are currently undervalued based on valuation and enterprise value ratios. This suggests that the retail industry offers good short-term investing opportunities. More...

JOEL GREENBLATT, EDWARD LAMPERT, STEVEN COHEN, RAY DALIO, FIRST EAGLE ADVISORS, PRIMECAP MANAGEMENT


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CEO Invests in HD Supply Holdings Insider purchases 32,100 shares in the company Jim Simons,Joel Greenblatt - CEO Invests In HD Supply Holdings
Joseph DeAngelo (Insider Trades), CEO, president and chairman of HD Supply Holdings Inc. (HDS), acquired 32,100 shares in the company on Sept. 22. The price was $31.07 per share for a total transaction of $997,347. More...

JOSEPH DEANGELO, INSIDER TRADES, HD SUPPLY HOLDINGS INC


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Joel Greenblatt Invests in Estée Lauder Good growth prospects and premium exposure insulate company from pricing pressure Joel Greenblatt - Joel Greenblatt Invests In Estée Lauder
Joel Greenblatt (Trades, Portfolio) initiated a position in Estée Lauder (NYSE:EL) in the second quarter, buying 425,384 shares for an average price of $93.33 per share. More...

LONG, CONSUMERS


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11 Questions With Asian and APS Investor Sid Choraria APS’ philosophy is centered on investigative research, valuation work and constant testing of investment theses Warren Buffett, Joel Greenblatt, Charlie Munger, M - 11 Questions With Asian And APS Investor Sid Choraria
Today, I had the opportunity of speaking with Asian Equities investor Sid Choraria. We talk about his experience with Goldman Sachs, Asian markets and negative interest rates, as well as the investors and experiences that influenced him. More...

BUFFETT, SINGAPORE, FOREIGN, ASIA, VALUE, HEDGE FUND


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George Soros Boosts Stake in Synaptics Company is a leading developer and supplier of human interface products George Soros,Joel Greenblatt,David Dreman,Jim Simo - George Soros Boosts Stake In Synaptics
George Soros (Trades, Portfolio) increased his stake in Synaptics (NASDAQ:SYNA) elevenfold, adding an additional 180,000 shares in the company to his portfolio during the second quarter. Since the trade Synaptics' market price has tumbled by an estimated 15%. More...

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Predictable Companies Increase Value Opportunities Backtesting of 'Profitable Predictable Margin Expanders' strategy Warren Buffett,Joel Greenblatt - Predictable Companies Increase Value Opportunities
During the 2008 financial crisis, many investors suffered great losses as the stock market tumbled to historical lows. More...

WARREN BUFFETT


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6 Worst Performing Stocks Among Guru Portfolios Stocks with negative 6-month returns that gurus are buying Jim Simons,Joel Greenblatt - 6 Worst Performing Stocks Among Guru Portfolios
While gurus are still holding stakes in these companies, the price of the stock and returns of the investors are dropping. These are the worst performing stocks over the last 6 months that have a long-lasting presence in four or more gurus’ portfolio. More...

STOCKS, POOR, WORST, PERFORMANCE


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Joel Greenblatt Adds to United Rentals Guru increased holding in world's largest equipment rental company Joel Greenblatt - Joel Greenblatt Adds To United Rentals
Joel Greenblatt (Trades, Portfolio) tripled his stake in United Rentals (NYSE:URI) during the second quarter. The guru added 559,604 shares of the company at an average price of $65.25. The trade had a 0.45% impact on Greenblatt’s portfolio. He now owns 746,158 shares of the company. Since Greenblatt's purchase, the company’s market price has risen by an estimated 24%. More...

RENTAL, GREENBLATT, BUYS, EQUIPMENT


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GNC is a Joel Greenblatt Bargain Walking a Tight Rope Retailer down on the year and looks like a bargain despite some danger signs Jim Simons,Joel Greenblatt - GNC Is A Joel Greenblatt Bargain Walking A Tight Rope
GNC is a retailer of health supplements and it is teetering. Greenblatt has a small 298,000 share position (0.09% of assets) in the company, but other big money like Steven Cohen (Trades, Portfolio), Jim Simons (Trades, Portfolio), and Paul Tudor Jones (Trades, Portfolio) have all sold out. More...

HEALTH FOOD, FITNESS, VITAMINS, DIET, SUPPLEMENTS


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Joel Greenblatt Doubles Down on Accenture Company has a strong global delivery model and good financials and is expanding its operations Joel Greenblatt - Joel Greenblatt Doubles Down On Accenture
Joel Greenblatt (Trades, Portfolio) more than doubled his holding in Accenture (NYSE:ACN) purchasing 120,060 shares for an average price of $115.96 per share during the second quarter. More...

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Wilbur Ross Gets FIT Guru buys fitness tracker in 2nd quarter Wilbur Ross,Joel Greenblatt,Jim Simons,Chuck Royce - Wilbur Ross Gets FIT
Wilbur Ross (Trades, Portfolio) of Invesco Private Capital (Trades, Portfolio) acquired a new holding in Fitbit Inc. (NYSE:FIT) during the second quarter. More...

FITBIT, ROSS, BUYS


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Joel Greenblatt Buys Fox, ConAgra and Intuit The guru's top 3 2nd-quarter buys Joel Greenblatt,Dodge & Cox,Jana Partners,PRIMECAP - Joel Greenblatt Buys Fox, ConAgra And Intuit
During the second quarter, Joel Greenblatt (Trades, Portfolio) of Gotham Asset Management LLC acquired three new holdings. They are Twenty-First Century Fox Inc. (NASDAQ:FOXA), ConAgra Foods Inc. (NYSE:CAG) and Intuit Inc. (NASDAQ:INTU). More...

GREENBLATT, BUYS, SECOND QUARTER


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Worst Performance YTD: MasterCard, Lazard Negative returns, but solid fundamentals Joel Greenblatt,Jim Simons - Worst Performance YTD: MasterCard, Lazard
Thanks to the GuruFocus All-In-One screener, we selected the worst performing stocks of the year that have solid performances over the past 10 years and guarantee profitability and a solid financial situation. More...

RETURNS, PERFORMANCE


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Eugene Cassis Sells Waters Corp. CFO sold shares of the company Joel Greenblatt, Jim Simons - Eugene Cassis Sells Waters Corp.
Eugene Cassis (Insider Trades), CFO of Waters Corp. (WAT), sold 48,000 shares of the company on Aug. 1. The average price per share was $159.96, for a total transaction of $7,678,080. More...

EUGENE CASSIS, INSIDER TRADES, WATERS CORP


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Fitbit, A Leading IoT Investment FIT has better chance of doubling value than Facebook Steven Cohen, Joel Greenblatt, George Soros, Jim S - Fitbit, A Leading IoT Investment
When legends like Steven Cohen, George Soros (Trades, Portfolio), Jim Simons (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio), all buy into a stock during the most recent quarter, it is worth taking note. Fitbit (NYSE:FIT) offers a great long-term growth opportunity at this price. More...

WEARABLES, TECHNOLOGY, FITBIT


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Sometimes It Is Good to Buy the Biggest. But Should You Buy the Biggest Health Care Distribution Business? McKesson is a giant that has recently experienced a pullback. Does that make it a good prospect, or would its competitors be better opportunities? Mario Gabelli,Joel Greenblatt - Sometimes It Is Good To Buy The Biggest. But Should You Buy The Biggest Health Care Distribution Business?
2016 Investor Day presentation, June 29, 2016  More...

HEALTHCARE, PHARMA, DISTRIBUTION, VALUE


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Greenblatt Sparkles in Growing Retail Industry Magic formula reveals best consumer cyclical companies, especially in retail Joel Greenblatt - Greenblatt Sparkles In Growing Retail Industry
Among consumer cyclical companies that trade on the New York Stock Exchange and the Nasdaq, three retail companies, Bed Bath & Beyond Inc. (NASDAQ:BBBY), Winmark Corp. (NASDAQ:WINA) and Hibbett Sports Inc. (NASDAQ:HIBB) have high Greenblatt earnings yield and return on capital. This suggests that these companies have high value potential based on Greenblatt’s magic formula. More...

JOEL GREENBLATT


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Long-Term Upside With Jones Lang LaSalle For real estate stocks, JLL is the best in breed Jim Simons,Joel Greenblatt - Long-Term Upside With Jones Lang LaSalle
With roots dating back to 1783, Jones Lang LaSalle (NYSE:JLL) has become one of the world’s largest commercial real estate companies. Headquartered in Chicago, the former London auctioneer’s business now spans the world. Down 33% year to date, the stock presents a very interesting long-term buying opportunity in a really great business. More...

REAL ESTATE, COMMERCIAL REAL ESTATE


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A Buy Opportunity in the 2nd Half of the Year Goldman Sachs reported EPS of $3.72 on revenue of $7.93 billion Warren Buffett, Joel Greenblatt - A Buy Opportunity In The 2nd Half Of The Year
Bank of America (NYSE:BAC) beat earnings estimates, but Goldman Sachs Group Inc (NYSE:GS)'s stock has dropped more than 1% yesterday on the back of the bank posting its financial results for the second quarter, which ended June 30. The bank reported a revenue decline of 12.6% year-over-year to $7.93 billion, caused by an 11% decline in investment banking revenue and a 17% decline in underwriting revenue. Further, the financial advisory revenue of $794 million was down 3% as M&A slowed down. Despite those figures, the results exceeded the analysts’ estimates by 72 cents in EPS and also beat revenue expectations by $350 million. More...

GOLDMAN SACHS, BANK OF AMERICA


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'Quantitative Value' Makes Case for Approach to Value Investing The book explains how to sift through stocks to find strong investments with large margins of safety at great prices Warren Buffett,Joel Greenblatt - 'Quantitative Value' Makes Case For Approach To Value Investing
In "Quantitative Value," Wesley Gray and Tobias Carlisle make a compelling case for a purely quantitative approach to value investing. As the title appropriately conveys, the book equally emphasizes the benefits of applying a value investing approach along with the advantages of using quantitative analysis to select investments. More...

QUANTITATIVE ANALYSIS, BOOK REVIEW, TOBIAS CARLISLE, WESLEY GRAY, VALUE INVESTING


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