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Joel Greenblatt (born December 13, 1957 in Great Neck, New York) is a value investor, and adjunct professor at the Columbia University Graduate School of Business. He is the former chairman of the board of Alliant Techsystems and founder of the New York Securities Auction Corporation.
Education
Greenblatt is a graduate of the The Wharton School at the University of Pennsylvania, receiving his B.S. in 1979 and M.B.A. in 1980
Career in finance
Gotham Capital
In 1985, Greenblatt started a hedge fund, Gotham Capital, with $7 million, most of which was provided by junk-bond king Michael Milken.
Value Investors Club
He started a website called the Value Investors Club, where approved investors (through an application process) exchange value and special situation investment ideas. The website awards $5000 to the member who submits the best idea each week. He pursues a focused value and special situation investment strategy.
Magic Formula Investing
His latest book refers to an investment strategy of "Magic Formula Investing", which is a fancy name for a simple formula for determining which stocks to buy: "cheap and good companies" with a high earnings yield and a high return on capital. His strategy is featured in "The Guru Investor" by John P. Reese. |
Joel Greenblatt