Joel Greenblatt

Joel Greenblatt

Gotham Asset Management, LLC
Last Update: 08-14-2017

Number of Stocks: 948
Number of New Stocks: 217

Total Value: $7,119 Mil
Q/Q Turnover: 33%

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

Does Joel Greenblatt’s Magic Formula Have a Solution for Value Investors? Exploring the Magic Formula and assessing its potential
October 6, 2016
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'
December 21, 2016
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'
December 27, 2016
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...
Low-Priced Retail Stocks Gurus Shopped for Ahead of Holiday Season A pummeled sector in a rising market
December 2, 2016
Those interested in out-of-favor stocks can’t look much further than retail. In a market routinely hitting all-time highs, the consumer discretionary sector’s 1.42% one-year return makes it the worst performing, second only to health care. But the statistics for apparel and department stores are much worse, and the upcoming crucial holiday season may not help. Read more...
10 Questions With Conference Speaker Dave Sather Introducing Dave Sather, the founder of Sather Financial Group and head of an investing program at Texas Lutheran University
October 4, 2016
Dave Sather is the founder of Sather Financial Group, an asset management firm overseeing $400 million, based in Victoria, Texas, and a speaker at the 2017 GuruFocus Value Conference. He answers the questions below to introduce himself. Read more...
» More Joel Greenblatt Articles

Commentaries and Stories

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The Toyota of Chemical Companies What Toyota did for manufacturing is what Daicel did for the process industry, and Daicel has the financials to prove it
August 11, 2017
Joel Greenblatt - The Toyota Of Chemical Companies
According to Misaki Investments, 80%-plus of institutional investors in Japan hold investments for less than a year. Comparatively 62% of institutional investors in the U.S. hold investments for less than a year. More...

CHEMICAL, LONG, JAPAN


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Gurus' Worst-Performing Stocks These companies had a negative 6-month performance
August 4, 2017
Jim Simons, Joel Greenblatt, Steven Cohen, Paul Tu - Gurus' Worst-Performing Stocks
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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Put Corporate Japan's Cash in Your Wallet With Japan's corporate governance reforms, patient investors might find its cash in their wallets
August 2, 2017
Joel Greenblatt, Daniel Loeb - Put Corporate Japan's Cash In Your Wallet
There are plenty of reasons to keep your money away from Japan, including the declining and aging population, corporate governance and poor capital allocation, just to name a few. Bad news seems to travel quickly, however, and there is still plenty to like about Japan, which is often overlooked. Here, I will shed some light on Japan’s often overlooked good news. More...

LONG, JAPAN


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A Solid Women's Retail Trade No stock is recession proof, but at 6 times forward earnings, Francesca's looks like a bargain
July 24, 2017
Mariko Gordon, Joel Greenblatt, Jim Simons, Paul T - A Solid Women's Retail Trade
Since Francesca’s Holdings Corp. (NASDAQ:FRAN) opened its first store in Houston, Texas less than 20 years ago, it has grown to over 670 boutiques in 48 states. The company is known for upscale, fashion-forward women’s apparel and accessories with a consumer age range between 18 and 35 years old. The boutiques stock new merchandise every five days and turns over the inventory eight to nine times a year. By comparison, Lululemon Athletica Inc. (NASDAQ:LULU) turns over four times a year, Express Inc. (EXPR) turns over six times a year and H&M (OSTO:HMB) turns over at three times a year. More...

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Here's Why You Should Pay Attention to Carter's Companys key ratios look attractive
July 23, 2017
Jim Simons,Joel Greenblatt - Here's Why You Should Pay Attention To Carter's
Carter's Inc. (NYSE:CRI), a $4.29 billion market cap company, is the largest branded marketer in the U.S. of apparel and related products exclusively for babies and young children. The company has declined earnings per share in the most recent quarter compared to the same quarter a year ago, to 95 cents from $1.04. As we can appreciate in the next chart, it has demonstrated a pattern of positive earnings-per-share growth over time. During the past fiscal year, the company increased its bottom line: Carter´s earned $5.11 versus $4.52 in the previous year. For this year, Mr. Market expects an improvement in earnings ($5.62 versus $5.11). More...

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Gap Soars 5.6% After Beating Estimates The stock rallies on the back of a positive surprise
July 13, 2017
Joel Greenblatt, Edward Lampert, Murray Stahl, Ste - Gap Soars 5.6% After Beating Estimates
The U.S. stock markets were up today, with the Dow hitting an all-time high and financial and energy stocks leading the advance. Among the winners today is Gap Inc. (NYSE:GPS). More...

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7 of the Worst-Performing Stocks in Gurus' Portfolios These companies had a negative 6-month performance
July 7, 2017
Jim Simons, Joel Greenblatt, Chuck Royce, Paul Tud - 7 Of The Worst-Performing Stocks In Gurus' Portfolios
While gurus hold positions in these companies, the stock price sand 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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7 Stocks Beating the Benchmark Outperforming companies with rising prices
July 5, 2017
Jeremy Grantham, Joel Greenblatt, Chuck Royce, Jim - 7 Stocks Beating The Benchmark
According to GuruFocus' All-in-One 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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7 Cheap Stocks With Growing Book Value The DCF calculator selects stocks with high margins of safety
June 30, 2017
Joel Greenblatt, Jim Simons, Paul Tudor Jones, Chu - 7 Cheap Stocks With Growing Book Value
The following companies have grown their book values per share (BV/S) over the last 10 years. More...

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Diversification Is Becoming More Important Than Ever Why concentrated portfolios are increasingly risky
June 30, 2017
Warren Buffett,Joel Greenblatt,Seth Klarman,Charli - Diversification Is Becoming More Important Than Ever
More...

WARREN BUFFETT, BENJAMIN GRAHAM, VALUE, VALUE INVESTING, RISK, REWARD


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General Mills Posts 4th-Quarter, Full-Fiscal Results The company beats analysts' expectations on EPS and revenues
June 28, 2017
Joel Greenblatt,Mario Gabelli,Ken Fisher - General Mills Posts 4th-Quarter, Full-Fiscal Results
General Mills Inc. (NYSE:GIS) – the U.S. international producer and marketer of branded consumer foods that are sold through retail stores – released the financial results for the fourth quarter of fiscal 2017 and for the fiscal year June 28. More...

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7 Outperforming Stocks With Rising Prices These stocks are beating the benchmark
June 27, 2017
Jim Simons, Joel Greenblatt, Steven Cohen, Pioneer - 7 Outperforming Stocks With Rising Prices
According to GuruFocus' All-in-One 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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7 Companies Growing Earnings and Book Value These companies have strong 5-year figures
June 26, 2017
Jeremy Grantham, Joel Greenblatt, Steven Cohen, Pa - 7 Companies Growing Earnings And Book Value
The following companies have boosted their revenue and earnings over the last three years. More...

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7 Undervalued Stocks With Growing Book Values DCF calculator selects stocks with high margins of safety
June 26, 2017
Jim Simons, Joel Greenblatt, Paul Tudor Jones - 7 Undervalued Stocks With Growing Book Values
The following companies have grown their book values per share (BV/S) over the last 10 years. More...

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5 High-Yield Dividend Stocks to Own Investments for both income and long-term capital appreciation
June 22, 2017
Julian Robertson,Joel Greenblatt - 5 High-Yield Dividend Stocks To Own
A high dividend is anything over 5%, especially in companies that in 20 years could be paying out much more of the earnings to shareholders. Interestingly enough, three of the vehicles are attached to private equity firms, an industry historically inaccessible to the average (even noninstitutional) investor. Here are five stocks that provide both income and long-term growth potential. More...

TELECOM, FINANCIAL SECTOR, VERIZON, AT&T, APPLEBEES, IHOP, CARLYLE, BLACKSTONE, APOLLO, PRIVATE EQUITY, FAST CASUAL, RESTAURANTS


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7 Companies With Growing Revenue and Earnings Companies have strong 5-year figures
June 19, 2017
Jim Simons, Joel Greenblatt, Charles Brandes, Ken - 7 Companies With Growing Revenue And Earnings
The following companies have boosted their revenue and earnings over the last three years. More...

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What's Going On With This $11 Billion Tech Leader? Xerox operates in an extremely competitive environment where digitization is eliminating paper and lowering the demand for hardware
June 16, 2017
Barrow Hanley Mewhinney & Strauss,Joel Greenblatt, - What's Going On With This $11 Billion Tech Leader?
The future of Xerox (NYSE:XRX) is somewhat fragile due to intense competition from mobile devices that serve as an alternative to print. In order to face the future, Xerox needs to expand its offering in managed print services; otherwise the future growth of the company will be compromised. More...

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What's Behind the Harley-Davidson Reductions? Hedge funds are bearish on company despite efforts to satisfy international customers
June 15, 2017
Joel Greenblatt, Jim Simons, Ken Fisher - What's Behind The Harley-Davidson Reductions?
Things are not going well for Harley-Davidson Inc. (NYSE:HOG) as it has seen a slowdown in activity in the first half of the year. The second half should see an increase in shipments to offset the 10% decline in the first period. More...

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A Look at Joel Greenblatt’s Investment in Kroger Above-market growth rates, impending return of food inflation, low valuations make Kroger a good buy
June 12, 2017
Joel Greenblatt - A Look At Joel Greenblatt’s Investment In Kroger
Joel Greenblatt (Trades, Portfolio) initiated a position in Kroger (NYSE:KR) last quarter, buying 1,287,571 shares for an average price of $31.95 per share. More...

LONG, CONSUMERS, GROCERS


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9 Stocks Joel Greenblatt Continues to Buy The guru added to these holdings in the past 2 quarters
June 8, 2017
Joel Greenblatt,Private Capital,George Soros,Jim S - 9 Stocks Joel Greenblatt Continues To Buy
Joel Greenblatt (Trades, Portfolio) is founder and managing partner of Gotham Asset Management LLC . In both first-quarter 2017 and fourth-quarter 2016 the guru bought shares in the following stocks: More...

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