2 Secrets to Beating the Market. Great Value Investor Joel Greenblatt Explains
Great value investor Joel Greenblatt reveals his two secrets to investment success. He is living proof that active management can still work really well. Greenblatt is Managing Principal and Co-Chief Investment Officer of Gotham Asset Management where he co-manages hedge funds and several hedge fund-like mutual funds utilizing long/short strategies. His behavioral insight that the best investment strategy is one that both makes sense and that you can stick with.
The proposition that active management still works can be made on a case by case basis in the highly competitive stock mutual fund business, but it doesn’t hold up in general. In Greenblatt’s opinion: the investment flows to passive will continue, but there is a silver lining to this trend, which he will explain.
In an exclusive interview, great value investor Joel Greenblatt reveals his two secrets to investment success. WEALTHTRACK #1542 broadcast on April 05, 2019.
More at: www.wealthtrack.com
Пікірлер: 45
" If you are focused on 3-4 years from now you are alone"- Pure Gold
@cryptogoth
Жыл бұрын
He used to say "if you do good valuation work, it may take 2-3 years for the market to agree with you."
@jimjackson4256
Жыл бұрын
That is right but who can see out 3 or 4 years or even 1 year?
Joel is so easy to understand. I would love to take his class.
this channel is gold...subscribed!
any subtitles? other videos include subtitles but this one doesn't...
By far the fastest talking guest you've ever had.
20:47 onwards is the best part !
Great interview questions, and as always Joel is entertaining and insightful.
@vivekkumarsingh1309
Жыл бұрын
Hello
Why not put a date on these interviews ?
@stchew49
5 жыл бұрын
Jim Jackson - Fully agreed! For me, undated interviews have no relevance and should be distrusted from the word 'Go!'
@leeklinglesmith3427
4 жыл бұрын
WEALTHTRACK #1542 broadcast on April 05, 2019.
@jimjackson4256
Жыл бұрын
@@leeklinglesmith3427 Thank you
Speaking of behavioral finance, does anyone else find it humorous that a credit rating firm, with the name Moody's, exists? I sure hope their analytics arn't based on emotion.
awesome
8:00 talks about Houston Astros. Author was tipped off on high -tech cheating scheme.
4:10. This guy has sense of humor
I read that big secret book with in 4 hours
I feel like the new value investing is actually being able to create discounted cash flow models for high growth companies better than most
Is he just a Buffett proxy?
@Erikpdx
4 жыл бұрын
He's more active in his trading, and shorts overpriced stocks. Although they both look at stocks from a value evaluation perspective
@cryptogoth
Жыл бұрын
Greenblatt has had success with formulaic / algorithmic passive investing, like inverting the S&P500 weighting by market cap, or combining index with long bets for undervalued stocks and short bets for overvalued stocks, according to their proprietary intrinsic value calculation. He also does special situations (mergers, splits, etc.) You can do worse than just copying Buffett (like Pabrai), but you have to read 50 years of annual letters to even figure out what copying would mean. Mostly it's buying wonderful businesses at a discount, buying whole businesses, occasional arbitrage, and generating float cheaply (from insurance premiums) to reinvest.
Where can I put my money and let it grow at 18% or even at 4% now!
@hheythered
4 жыл бұрын
NYMT has a 13% a year dividend yield.
@cryptogoth
Жыл бұрын
If you do a discounted cashflow calculation for good growing businesses, you can still find some at 20% discount to their intrinsic value. It may take 2-5 years for market to agree with you. Oaktree preferreds give 6.5% dividend until maturity.
I gave the 999th like to is video.... What about u???
My life has totally changed since I started an investment of $60,000 and now earning over $57,000.
@vivekkumarsingh1309
Жыл бұрын
To be financially free with a passive income source which exceeds your expenses, you need to invest . It's not just watching videos and reading investment books anymore but for positive results, work with an expert. I use to think I can make more money investing on my own without any loss, but I had better luck working with a financial advisor I'm glad I chose to work with Wilson dric and I have no regrets with my decision
expense ratio > 3% ??? Goodbye!
@wisemanstudio
5 жыл бұрын
Wait ... he charges 3%. lol.
@CaspersCuts
5 жыл бұрын
No, watch 22:00 he addresses that. It's really 1.15%.
@yomynameismit
5 жыл бұрын
@@CaspersCuts read the actual prospectus.. its north of 3%
@CaspersCuts
5 жыл бұрын
@@yomynameismit Did you watch the explanation for that at 22:00? 3% includes dividends paid on his short book but is not offset by the dividends on his levered long book (which makes no sense given the fund runs 280% gross, with about 190% long and 90% short).
@somchai9033
5 жыл бұрын
You clearly didn’t listen
Just buy the S&P ... the rest is just smoke and mirrors .
@Erikpdx
4 жыл бұрын
That's easier to say when it's going up
@amatuer2
4 жыл бұрын
Erik F overtime it always goes up
@Erikpdx
4 жыл бұрын
@@amatuer2 not between 2000-2013... There was no gain
@cryptogoth
Жыл бұрын
@@Erikpdx Nice catch, if you invested all at the beginning, you're right. Most people dollar cost average over time into Sp500 so they still had a positive gain during the bear years. if you want to ride with the GOAT tho, BRK.B had a better gain from 2000-2013.
@vivekkumarsingh1309
Жыл бұрын
To be financially free with a passive income source which exceeds your expenses, you need to invest . It's not just watching videos and reading investment books anymore but for positive results, work with an expert. I use to think I can make more money investing on my own without any loss, but I had better luck working with a financial advisor I'm glad I chose to work with Wilson dric and I have no regrets with my decision