Joel Greenblatt

Joel Greenblatt

Last Update: 08-14-2018

Number of Stocks: 862
Number of New Stocks: 217

Total Value: $6,920 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 (%)
201710.0121.71-11.7
20167.9611.99-4.0
2015-10.241.24-11.5
3-Year Cumulative6.6 (2.2%/year)38 (11.3%/year)-31.4 (-9.1%/year)
20149.3113.47-4.2
201329.8132.3-2.5
5-Year Cumulative51.3 (8.6%/year)107.2 (15.7%/year)-55.9 (-7.1%/year)

Top Ranked Articles

2 Ways to Get Super Selective About Stocks in the Bubble Year of 2018 Look for obviously great businesses and obviously mispriced stocks. Only worry about the exact numbers second. Try to research one stock a week but only buy one stock a quarter. Be selective
Someone who reads my blog emailed me this question: Read more...
Joel Greenblatt's Secret to Beating the Market According to a Wall Street legend
Joel Greenblatt (Trades, Portfolio) has written several books on the subject of investing over the years, and he is a Wall Street legend. His books, "You Can Be a Stock Market Genius" and "The Little Book That Beats the Market," contain a wealth of invaluable information for investors on the topic of investing, and how you can improve your investment process by making a few simple changes to the way you think about the market. Read more...
In the Long Run, a High-Growth Stock Has to Be a High Return on Capital Stock A high-growth stock can only stay a high-growth stock as long as its return on capital is high. A company with below-average profitability will eventually end up with below-average growth
I recently received a couple questions about how to screen for “compounders” and whether it is better to look for a high growth rate or high return on capital. Read more...
Should You Buy a Cheap Stock That’s at the Very Edge of Your Circle of Competence? Your goal as a value investor should be to buy cheap stocks you understand. If you understand a business' 'market power' you understand the stock. Cheap means cheaper than peers
NACCO (NYSE:NC) is spinning off its Hamilton Beach small appliance business this week. NACCO’s remaining business will be a lignite coal miner (NACoal) that operates mostly unconsolidated mines under mostly long-term cost-plus supply contracts. In an earlier article, I explained why this lignite (“brown”) coal-producing business would be inside my “circle of competence” and the Hamilton Beach small appliance business would be outside my “circle of competence.” This led some people to ask: But what if Hamilton Brands trades at a deeper discount to your appraisal value than the post-spinoff NACCO? What if the value is in Hamilton Beach, not NACCO? You’re a value investor. So you’d have to buy Hamilton Beach, right? Read more...
Restaurant Industry Shows Signs of Sizzle 'Fast casual' and 'fast fine' are the industry's new buzzwords
The restaurant industry is seeing signs of sizzle after some of the worst sales results in years. Read more...
» More Joel Greenblatt Articles

Commentaries and Stories

  • Currently 4.50/5

Rating: 4.5/5 (2 votes)

Joel Greenblatt Boosts Intuit, Walt Disney Positions Guru's largest buys of the 2nd quarter Joel Greenblatt - Joel Greenblatt Boosts Intuit, Walt Disney Positions
Hedge fund manager Joel Greenblatt (Trades, Portfolio), who is known for the invention of Magic Formula investing and founding Gotham Asset Management, bought shares of the following stocks in the second quarter. More...

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The Human Trader's Secret Weapon 'Choosing individual stocks without any idea of what you’re looking for is like running through a dynamite factory with a burning match' Joel Greenblatt,David Einhorn - The Human Trader's Secret Weapon
"Choosing individual stocks without any idea of what you’re looking for is like running through a dynamite factory with a burning match. You may live, but you’re still an idiot." -- Joel Greenblatt (Trades, Portfolio) More...

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5 Stocks Trading Below Peter Lynch Value Kroger tops the list Pioneer Investments, Joel Greenblatt, Steven Cohen - 5 Stocks Trading Below Peter Lynch Value
Several gurus are focusing on stocks whose Peter Lynch fair values are far above the current prices, according to the GuruFocus All-in-One Screener. The following stocks are trading with wide margins of safety and have positive performances over the past 12 months. More...

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6 High-Yield Stocks in Gurus' Portfolios Cheap stocks with negative 12-month performance Chuck Royce,Joel Greenblatt - 6 High-Yield Stocks In Gurus' Portfolios
According to the GuruFocus All-In-One Screener, the following stocks have high dividend yields but performed poorly over the past 12 months. More...

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6 Undervalued Stocks With Rising Book Value Margin of safety for these stocks Charles Brandes,Joel Greenblatt - 6 Undervalued Stocks With Rising Book Value
According to the GuruFocus All-In-One Screener, the following companies have grown their book value per share (BV/S) over the past decade. More...

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6 Companies Growing Earnings LKQ Corp, F5 Networks on the list Chuck Akre,Joel Greenblatt - 6 Companies Growing Earnings
Companies growing their earnings per share are often good investments as they can return a solid profit to investors. According to the discounted cash flow calculator, the following undervalued companies have grown their earnings over a five-year period. More...

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3 Reasons to Think Twice About Concentration Concentrated investing is becoming increasingly popular. There could be a better approach Howard Marks,Joel Greenblatt - 3 Reasons To Think Twice About Concentration
In a recent Kiplinger piece, James K. Glassman argued that it is better to own fewer stocks and concentrate your portfolio. This is an increasingly popular opinion among (value) stockpickers. There’s some truth to it, but at the same time I’d call concentration a weapon of portfolio destruction. More...

LONG, PORTFOLIO MANAGEMENT,


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Rating: 4.6/5 (5 votes)

4 Bargain Stocks With Attractive PEG Ratios Canada's online gambler popped 7% in trading, closing at $35.55 a share Joel Greenblatt, Jim Simons - 4 Bargain Stocks With Attractive PEG Ratios
A small group of healthy and profitable mid-to-large-cap players in the Global Travel and Leisure industry are worth a look by investors who are seeking a bargain. More...

LEISURE, TRAVEL, LODGING, PEG RATIO, PRICE-EARNINGS, GROWTH, BARGAIN, STOCK, PRICE, UNDERVALUED, PETER LYNCH, MEDIAN PRICE-SALES, HISTORICAL


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Risk Reward With International Business Machines Dividend of 4.3% and positive earnings could make the current price worth paying Jim Simons,Joel Greenblatt - Risk Reward With International Business Machines
Since the last time I wrote about IBM (NYSE:IBM), Warren Buffett (Trades, Portfolio) is out, Steven Cohen (Trades, Portfolio) is out, Joel Greenblatt (Trades, Portfolio) is in, and Jim Simons (Trades, Portfolio) More...

TECHNOLOGY, IBM, MICROSOFT, AI, ARTIFICIAL INTELLIGENCE, CLOUD COMPUTING, BLOCKCHAIN, BIG BLUE


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Risk and Reward With AT&T The stock gets a downgrade, you get a bargain Jim Simons,Joel Greenblatt - Risk And Reward With AT&T
AT&T (NYSE:T) completed the acquisition of Time Warner a few days ago. It was almost immediately downgraded due to concerns over its debt, which is now closing in on $250 billion, making it the world’s most indebted company. Not a title to covet, but debt should never be an issue for AT&T since it has a massive audience across its television and telephone operations. More...

AT&T, WIRELESS, 5G, DIRECTV, TIME WARNER, HBO, TURNER, GAME OF THRONES, WESTWORLD


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5 Cheap Stocks Trading Below Peter Lynch Value Masonite International tops the list Pioneer Investments,Joel Greenblatt - 5 Cheap Stocks Trading Below Peter Lynch Value
Several gurus are focusing on stocks whose Peter Lynch fair values are far above the current prices, according to the GuruFocus All-in-One Screener. The following stocks are trading with wide margins of safety and have positive performances over the past 12 months. More...

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Bed Bath and Beyond: This Time It’s Different If you missed the price at $17, the stock remains a bargain Joel Greenblatt,Lee Ainslie - Bed Bath And Beyond: This Time It’s Different
Retail has been on fire this year, with apparel leading the way. Specialty retailers like TJX Companies (TJX) are up 23%. But Bed Bath & Beyond (NASDAQ:BBBY) has flatlined. Back in November, the stock dipped under $20 for the first time since 2008 and quickly popped back 20%, only to drop again. It is now back above $20 a share. More...

BED BATH AND BEYOND, SPECIALTY RETAIL, HOME GOODS


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6 Undervalued Stocks According to Peter Lynch Value Science Applications, Rio Tinto on the list. Pioneer Investments,Joel Greenblatt - 6 Undervalued Stocks According To Peter Lynch Value
According to the 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 have positive performances over the past 12 months. More...

  • Currently 5.00/5

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3 Greenblatt Magic Formula Stocks Bought by Gurus in 1st Quarter Companies include Buffett’s Apple and Ackman’s United Technologies Warren Buffett, Joel Greenblatt, Tom Gayner, Ray D - 3 Greenblatt Magic Formula Stocks Bought By Gurus In 1st Quarter
On Tuesday, Joel Greenblatt (Trades, Portfolio)’s Magic Formula Screen listed Apple Inc. (NASDAQ:AAPL), Comcast Corp. (NASDAQ:CMCSA) and United Technologies Corp. (NYSE:UTX) in the top 30 among U.S. mega caps, companies with market caps of at least $100 million. Several gurus invested in these companies in the first quarter. More...

WARREN BUFFETT, JOEL GREENBLATT, TOM GAYNER, RAY DALIO, MASON HAWKINS, BILL ACKMAN, DANIEL LOEB, VALUE INVESTING, MAGIC FORMULA


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Chase Coleman’s Tiger Global Keeps Running With Sunrun Former 'Tiger Cub' fund gradually increased its holdings to over 13 million shares Joel Greenblatt - Chase Coleman’s Tiger Global Keeps Running With Sunrun
Chase Colman’s Tiger Global Management disclosed on Thursday that it increased its position in Sunrun Inc. (NASDAQ:RUN) 5.15% according to GuruFocus real-time picks. More...

CHASE COLMAN, JULIAN ROBERTSON, TIGER GLOBAL MANAGEMENT, TIGER CUBS, REAL-TIME PICKS, TECHNOLOGY, JOEL GREENBLATT


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MS Global Franchise Buys Heineken, Adds to Coke, Sells Nestle Morningstar's bronze-medal fund is among the first to open a position in Western Europe's largest beer producer in the 1st quarter Joel Greenblatt,Ken Fisher - MS Global Franchise Buys Heineken, Adds To Coke, Sells Nestle
The management team of the Morgan Stanley Global Franchise Fund, among the top 12% of open-ended funds in the U.S., has indicated the establishment of two positions, which were reflected in regulatory filings disclosed this week. More...

BEER, HEALTHCARE, DRUGS, NIKE, COKE, MICROSOFT, EARNINGS,


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Revisiting Big 5 Sporting Goods A net current asset trade to avoid Jim Simons,Joel Greenblatt - Revisiting Big 5 Sporting Goods
In January, I wrote an article about the company because I thought it was on par with Hibbett Sports, which has rallied over 100% since October, just serving a different regional market. More...

RETAIL, SPORTING GOODS, BIG 5, HIBBETT


  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Monsanto Is Flat but More Upsides Are Behind the Door The closing of the deal with Bayer is anticipated for this quarter Warren Buffett,Joel Greenblatt - Monsanto Is Flat But More Upsides Are Behind The Door
Shares of Monsanto (NYSE:MON) were unexpectedly flat on Tuesday following the news that the U.S. global agrochemical and agricultural biotechnology corporation received clearance from the antitrust of India as part of a merger with Bayer AG. More...

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Rating: 5.0/5 (1 vote)

Investing Shouldn't Be Elaborate or Exhausting The best way to succeed is to focus on the long term Joel Greenblatt, Warren Buffett - Investing Shouldn't Be Elaborate Or Exhausting
Earlier this week, I discussed "Joel Greenblatt's Secret to Beating the Market," where I took a look at some notes from lectures Greenblatt gave at the Columbia School of Business in 2005. More...

VALUE, VALUE INVESTING, INVESTING, JOEL GREENBLATT


  • Currently 4.71/5

Rating: 4.7/5 (7 votes)

Joel Greenblatt's Secret to Beating the Market According to a Wall Street legend Joel Greenblatt - Joel Greenblatt's Secret To Beating The Market
Joel Greenblatt (Trades, Portfolio) has written several books on the subject of investing over the years, and he is a Wall Street legend. His books, "You Can Be a Stock Market Genius" and "The Little Book That Beats the Market," contain a wealth of invaluable information for investors on the topic of investing, and how you can improve your investment process by making a few simple changes to the way you think about the market. More...

VALUE, VALUE INVESTING, JOEL GREENBLATT


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