Joel Greenblatt is an American hedge fund manager, author, and professor. He is the founder of Gotham Asset Management, a hedge fund management firm. He is widely recognized as one of the most successful value investors of all time and is known for his “Magic Formula” investment strategy.
Early Life:
Greenblatt was born in New York City in 1957. He grew up in a Jewish family and was raised in a working-class neighborhood in Queens. He has always had a passion for investing and began reading books on the stock market at a very young age.
Education
Greenblatt graduated from the Bronx High School of Science in 1974. He then attended Yale University, where he earned a Bachelor of Arts in 1978. He later attended Columbia Business School, where he earned his MBA in 1984.
Early Career
Joel Greenblatt is an American hedge fund manager and investor, best known as the founder of Gotham Capital, a value-oriented hedge fund that he ran from 1985 to 1995. He is also a well-known author and educator, having written several books on investing, including the best-selling “The Little Book That Beats the Market.”
Greenblatt began his career in the early 1980s as a mergers and acquisitions analyst at Goldman Sachs. He left the firm in 1985 to start Gotham Capital, which quickly became one of the most successful hedge funds of its time. The fund’s returns were so impressive that it was featured in the book, “Market Wizards” by Jack Schwager.
Greenblatt’s investment strategy at Gotham Capital was based on a value-oriented approach, which he called the “Magic Formula.” The formula is a two-step process that involves ranking stocks based on their earnings yield and returns on capital and then buying the stocks that rank the highest. This approach has been shown to be effective in generating strong returns over time.
In 1995, Greenblatt closed Gotham Capital to outside investors and began managing his own money. Since then, he has continued to invest in a wide variety of assets, including stocks, bonds, and real estate. He is also a partner in a private equity firm, GSO Capital Partners.
Greenblatt is also known for his philanthropic efforts. He co-founded the Harlem Children’s Zone, a non-profit organization that provides educational and social services to children and families in Harlem, New York. He also founded Gotham Schools, a non-profit organization that works to improve public education in New York City.
Greenblatt is considered one of the most successful investors of his generation and is widely respected for his expertise in value investing. He continues to write and speak on investing and has been featured in numerous financial publications, including Forbes, Barron’s, and The Wall Street Journal.
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Rise to fame
Greenblatt’s rise to fame began in the late 1990s when he published his book “You Can Be a Stock Market Genius” which revealed his “Magic Formula” investment strategy. The book became a bestseller and attracted the attention of many investors, making him a well-known figure in the investment community.
Key achievements and contributions
Greenblatt is best known for his “Magic Formula” investment strategy, which emphasizes the combination of a stock’s earnings yield and returns on capital. He also wrote “The Little Book That Beats the Market” which has also been a bestseller. He is also known for his philanthropy, particularly in the field of education.
Personal life
Greenblatt is married with five children and lives in New York City. He is very private about his personal life and rarely gives interviews.
Legacy: Greenblatt’s legacy is that of a successful value investor and philanthropist. His “Magic Formula” investment strategy has been widely adopted by investors, and he has inspired many to pursue a career in investing. He is also known for his philanthropy, particularly in the field of education.
Net Worth
Joel Greenblatt’s net worth is estimated to be around $500 million.
Social media handles: Joel Greenblatt does not have any public social media handles.
