Joel Greenblatt
From Wikipedia, the free encyclopedia
| Joel Greenblatt | |
| Born | December 13, 1957 Great Neck, New York |
|---|---|
| Occupation | Investor |
| Website Columbia Business School Faculty |
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Joel Greenblatt (born December 13, 1957 in Great Neck, New York) is a value investing guru, 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. He also worked at investment bank Drexel Burnham Lambert.
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[edit] 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.[1]
[edit] Career in finance
[edit] 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.[1]
[edit] 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.
[edit] 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.
[edit] Bibliography
- Greenblatt, Joel (2006). The Little Book That Beats the Market. Hoboken, NJ: John Wiley & Sons. ISBN 0-471-73306-7.
- Greenblatt, Joel (1997). You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits. New York: Simon & Schuster. ISBN 0-684-83213-5.
[edit] Philanthropy
Greenblatt is also famous for his contributions to education in New York City. In 2002, he donated $2.5 million to P.S. 65Q, a public elementary school in the borough of Queens, whose students come largely from the neighborhood's South American and South Asian immigrant communities. This investment, equal to about $1,000 per student per year over five years, helped P.S. 65Q to go from a struggling school to an urban success story almost overnight. In 2006, Greenblatt also helped start the Harlem Success Charter School, an elementary school in the city's historically African American neighborhood.[2] He is also a board member of the Institute for Student Achievement, a national leader in developing new small high schools and transforming large comprehensive public high schools into small learning communities.[3]
[edit] Notes
- ^ a b Gannon, Geoff. "Value Investing Encyclopedia: Joel Greenblatt". December 28, 2005.
- ^ How Is a Hedge Fund Like a School?". February 20, 2006.
- ^ Institute for Student Achievement board of directors
