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

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...
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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21 Questions With Jason Rivera of Rivera Holdings 'These companies are more obscure, less followed, and generally don’t rise with the market, they only rise with sustained good results' Joel Greenblatt - 21 Questions With Jason Rivera Of Rivera Holdings
1) What is the best investment advice you have ever been given? More...

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20 Questions With Tom Vilord of Vilord Wealth Advisors 'You certainly do not need a calculus background to do this stuff' Joel Greenblatt,Mohnish Pabrai - 20 Questions With Tom Vilord Of Vilord Wealth Advisors
1. What is the best investment advice you have ever been given? More...

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20 Questions With Jeremy Bailey of Burgeon Group 'You should be OK with the worst-case scenario because sometimes it happens to a company' Warren Buffett,Joel Greenblatt - 20 Questions With Jeremy Bailey Of Burgeon Group
Jeremy Scott Bailey is an investor, author, entrepreneur and host of the "What Works In Investing?" podcast now available on iTunes. He is the founder and CEO of Burgeón Group Inc., an investment advisory firm that focuses on serving families and individuals through active management. More...

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Undervalued Stocks With Growing Book Values Stocks trading with wide margins of safety Arnold Van Den Berg,Joel Greenblatt,Chuck Royce,Je - Undervalued Stocks With Growing Book Values
The following companies have a growing Book Value per Share over the last 10 years. More...

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Joel Greenblatt Raises Holdings of CVS Health, Priceline, HP The guru's largest buys of the 4th quarter Joel Greenblatt,Pioneer Investments,Jim Simons,NWQ - Joel Greenblatt Raises Holdings Of CVS Health, Priceline, HP
Joel Greenblatt (Trades, Portfolio) is known for the invention of Magic Formula Investing and founder of the New York Securities Auction Corp. (NYSAC). During the fourth quarter the guru bought shares of the following stocks: More...

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Gotham Index Plus: A Better Way to Invest? Greenblatt and Goldstein offer a compelling alternative in index investing Joel Greenblatt - Gotham Index Plus: A Better Way To Invest?
In an article I wrote for our subscribers over the weekend, I noted that toward the end of a bull cycle, the market still goes up but many, ultimately giving way to most, stocks do not. That conundrum is explained because it is mostly the large-cap names always in the news (which have already moved up significantly) that see the greatest inflows. This is the phase in which previously skeptical or on-the-sidelines investors see nothing but great reports, earnings beats and, of course, Wall Street projections that say not only is the bull not fading, the next bull cycle is just getting started. This is when the somnambulists finally buy so they do not feel like they have missed the entire party. More...

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Is Williams-Sonoma a Better Bargain Than Ever? The retailer's investment prospects after its recent price decline Joel Greenblatt,David Dreman,Ray Dalio,Ken Fisher - Is Williams-Sonoma A Better Bargain Than Ever?
(Published by Nicholas McCullum on March 19) More...

DIVIDENDS, RETAIL


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Joel Greenblatt Cuts Hewlett Packard, Walt Disney, Oracle The guru's largest 4th-quarter sales Joel Greenblatt,Dodge & Cox,PRIMECAP Management,HO - Joel Greenblatt Cuts Hewlett Packard, Walt Disney, Oracle
Joel Greenblatt (Trades, Portfolio) is 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. During the fourth quarter the guru sold shares in the following stocks: More...

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Testing Graham’s Net Current Asset Value Strategy, Part 1 An overview of studies analyzing the investment strategy Joel Greenblatt - Testing Graham’s Net Current Asset Value Strategy, Part 1
There have been various studies analyzing the performance of Benjamin Graham’s strategy of purchasing stocks trading below net current asset value (NCAV). These stocks are also called net-nets. Graham developed and tested this criterion in the early 1930s and first described his net current asset value rule for stock selection in the 1934 edition of ”Security Analysis.” More...

INVESTMENT STRATEGY


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A Good Long Idea in the Past, Most Valuable in the Future Philip Morris is concentrating efforts in the right places to remain a leader in the industry Joel Greenblatt,Jim Simons,T Rowe Price Equity Inc - A Good Long Idea In The Past, Most Valuable In The Future
Philip Morris International Inc. (NYSE:PM), the largest publicly traded manufacturer and marketer of tobacco products, sells cigarettes all over the world. More...

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AbbVie Regimen Recommended for HCV Infection VIEKIRAX + EXVIERA shows high cure rates in GT1b HCV patients David Dreman,Joel Greenblatt,Ken Fisher,Mario Gabe - AbbVie Regimen Recommended For HCV Infection
AbbVie Inc. (NYSE:ABBV) communicated through the PRNewswire Monday that it received a positive feedback from the European Committee for Medicinal Products for Human Use (CHMP) about the possibility of using VIEKIRAX plus EXVIERA in a combined therapy of eight weeks to treat chronically genotype 1b HCV-infected adult patients. More...

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Eldorado Gold Reports 2016 Results Company missed on EPS, beat on revenue Charles Brandes,Joel Greenblatt - Eldorado Gold Reports 2016 Results
Eldorado Gold Corp. (NYSE:EGO) released its fourth-quarter and full-year 2016 results on Feb. 23. More...

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Abbott Laboratories Declares Quarterly Dividend Analysts' forecast increases for EPS and sales Joel Greenblatt,Keeley Asset Management,Vanguard H - Abbott Laboratories Declares Quarterly Dividend
Abbott Laboratories (NYSE:ABT) announced a regular quarterly dividend of 26.5 cents per share on Feb. 17. More...

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Risk Reward With Urban Outfitters Is now the time to own the stock? Strong financials and growth suggest it is Joel Greenblatt,Steven Cohen - Risk Reward With Urban Outfitters
There have been 10 years of ups and downs in Urban Outfitters’ (NASDAQ:URBN) stock price while its financials continued to rise. More...

RETAIL, DISCRETIONARY


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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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