Secrets of Investment Success w/ Joel Greenblatt (RWH003)

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William Green speaks with Joel Greenblatt, one of the greatest hedge fund managers of all time. Greenblatt famously averaged 40% a year over 20 years. At that rate, $1 million grows into $836 million. He’s also the author of best-selling classics like “The Little Book that Beats the Market” and was a key character in William’s book, “Richer, Wiser, Happier.” In this conversation, Greenblatt shares invaluable lessons from his hugely successful career and life.
IN THIS EPISODE, YOU’LL LEARN
00:00:00 - Intro
00:00:15 - How Joel Greenblatt crushed the market by making big, bold bets on cheap stocks.
00:05:17 - How a freak investment disaster taught him never to forget that bad things happen.
00:12:59 - How he handles the emotional pain and stress of investing.
00:16:08 - Why he believes that the greatest investors tend to have “a screw loose.”
00:21:09 - Why he never bought Bitcoin-and has no regrets about it.
00:28:39 - How he made a killing by studying Warren Buffett’s purchase of Coca-Cola stock.
00:32:16 - Why he admires Buffett even more after spending time with him in person.
00:37:47 - Why Greenblatt still believes in his “magic formula” for picking cheap and good stocks.
00:49:11 - Which exceptional businesses he owns for the long term in his personal stock portfolio.
01:02:59 - Why he feels “blessed” and “lucky”-and owes it to society to share his good fortune.
01:23:13 - What career advice and investment books he’s given to his five children.
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✔️ Subscribe to Bitcoin Fundamentals/We Study Billionaires podcast show: link.chtbl.com/RWH03
🖊️ Access our free show notes and transcript here: www.theinvestorspodcast.com/r...
📖 BOOKS MENTIONED:
- The Little Book That Still Beats The Market by Joel Greenblatt: amzn.to/3IIs6sU
- You Can Be a Stock Market Genius by Joel Greenblatt: amzn.to/3JSf1yO
- The Big Secret for the Small Investor by Joel Greenblatt: amzn.to/3JJEY3k
- Common Sense by Joel Greenblatt: amzn.to/3iHk6xZ
- Richer, Wiser, Happier by William Green - amzn.to/3hZf53k
Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😁
▶️RELATED EPISODES
- Stig and Preston discuss Joel Greenblatt’s book You Can Be a Stock Market Genius: www.theinvestorspodcast.com/e...
- Interview w/ Howard Marks: www.theinvestorspodcast.com/r...
- Interview w/ Tony Robbins: www.theinvestorspodcast.com/r...
- Interview w/ Ray Dalio: www.theinvestorspodcast.com/e...
💡OTHER RESOURCES
- Joel Greenblatt’s mutual fund company, Gotham Funds: www.gothamfunds.com/default.aspx
- Joel Greenblatt’s Magic Formula Investing website: www.magicformulainvesting.com/
- Joel Greenblatt’s network of charter schools, Success Academy: www.successacademies.org/
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LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK:
₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: • ⚡️ Bitcoin Fundamentals 🔑
📚Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: • 💰 We Study Billionaires 🥇
🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: • 🏠 Real Estate 101 💵
💸Get introduced to the world of investing with our Millennial Investing podcast show: • 💸 Millennial Investing 🎯
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DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.

Пікірлер: 87

  • @BradKaellner
    @BradKaellner2 жыл бұрын

    Well I just figured out what I'll be listening to on repeat tomorrow

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Thank you so much for the support, Brad!

  • @AndrewBrownInvesting

    @AndrewBrownInvesting

    Жыл бұрын

    Doing the same thing. 😊

  • @octhx
    @octhx9 ай бұрын

    45:01 Acquirer's multiple vs Magic formula

  • @Value_Pilgrim
    @Value_Pilgrim2 жыл бұрын

    William Green should have his own podcast channel! Excellent questions and excellent direction for the interview. Made me get a sense of how Joel was/is thinking.

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Glad you found it valuable!

  • @RicherWiserHappier

    @RicherWiserHappier

    2 жыл бұрын

    Thanks so much! Warm wishes, William

  • @sisirksh1487

    @sisirksh1487

    2 жыл бұрын

    @@RicherWiserHappier yeah your podcast please

  • @jdp0359
    @jdp03592 жыл бұрын

    Actually 2 legends here. Great questions and informative answers. What an entertaining discussion.... Thanks gentlemen!

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Glad you enjoyed the discussion, John!

  • @sisirksh1487

    @sisirksh1487

    2 жыл бұрын

    @@TheInvestorsPodcastNetwork bring more with great investor like Lee yu , Mohnish prabhai pt 5 ,. etc etc

  • @joseluisrey8847
    @joseluisrey8847 Жыл бұрын

    wow!!! what a great interview!!

  • @frankbaozhu
    @frankbaozhu2 жыл бұрын

    This gentleman behind the deli counter has been mentoring me for the last 2 decades. Could not be more proud to be a friend of him. You know it is like what a hurogak said in Contact Harvest, "it exists to help". That is how he is. There is no coincidence he shared his ideas freely on Yahoo. It was not because he wants a job, it was because he genuinely wants to help people and spent all the time to actually do it. Just a beautiful soul.

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Thank you for the lovely comment, Wu!

  • @RicherWiserHappier

    @RicherWiserHappier

    2 жыл бұрын

    Fascinating! Would love to learn more about your mentor. Warm wishes, William

  • @sisirksh1487

    @sisirksh1487

    2 жыл бұрын

    @@RicherWiserHappier glad you are here

  • @tomerleviatan4166
    @tomerleviatan41662 жыл бұрын

    Great addition to TIP This RWH addition is just wonderful !

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Thank you so much! So happy to hear that. :)

  • @cashflowyield
    @cashflowyield2 жыл бұрын

    Great interview! Thank you.

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Our pleasure, Ali!

  • @TedErhartCFP
    @TedErhartCFP Жыл бұрын

    I've listened to a lot of interviews Joel Greenblatt has given and this may be my favorite. Thanks!

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    Жыл бұрын

    Glad you enjoyed it!

  • @brad52able
    @brad52able2 жыл бұрын

    Joel: "I do think the best is yet to come in some of the long-short portfolios, I'm kind of excited about that." At the 01:02:50 mark. As a GENIX investor that was music to my ears.

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Thanks for watching, Brad! Best of luck to you.

  • @cryptogoth
    @cryptogoth Жыл бұрын

    The best Joel Greenblatt interview I’ve heard, well asked and well answered. Could we hear from Li Lu or Nick Sleep in future podcasts?

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    Жыл бұрын

    Glad you enjoyed the interview!

  • @sisirkshetrimayum1072

    @sisirkshetrimayum1072

    Жыл бұрын

    ​@@TheInvestorsPodcastNetwork yeah full support and love ❤️ from India..will be glad if u reply 😀 👍

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    Жыл бұрын

    @@sisirkshetrimayum1072 Thank you so much! We appreciate your love and support!🇮🇳💯

  • @snookerfan77
    @snookerfan772 жыл бұрын

    The things said here are simply amazing amazing content thank you so much for sharing this

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Glad you enjoyed it!

  • @brianbirnbaum9760
    @brianbirnbaum97607 ай бұрын

    It would be awesome if you could have Joel come on and walk us through the Marriott trade step by step.

  • @AlessandroOrlandi83
    @AlessandroOrlandi832 жыл бұрын

    A really interesting chat. Joel’s way of explaining concepts is soo entertaining and clear

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    So glad to hear you enjoyed the discussion, Alessandro!

  • @AlessandroOrlandi83

    @AlessandroOrlandi83

    2 жыл бұрын

    @@TheInvestorsPodcastNetwork thank you for doing a fantastic interview. I already read your book but I discovered now your channel which i’m following. Thank you for sharing with us!

  • @mikeuremovich9896

    @mikeuremovich9896

    2 жыл бұрын

    @@TheInvestorsPodcastNetwork lollipop I’ll ouo on it o thanks all okey I’ll lRULLllLLLLLRllollblppppoooo

  • @mikeuremovich9896

    @mikeuremovich9896

    2 жыл бұрын

    Mike you

  • @Historyteacheraz
    @Historyteacheraz5 ай бұрын

    Great insight in this interview! William is always a great interviewer! A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a good resource for new investors.

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    4 ай бұрын

    Thank you!🙌

  • @brianbirnbaum9760
    @brianbirnbaum97607 ай бұрын

    You asked him what businesses he’s holding onto long term and then he proceeded to answer a totally different question. You need to press him for answers to the questions you asked because there’s a reason that question is better than the one he chose to answer.

  • @tunama1
    @tunama14 ай бұрын

    Does Joel have a trading platform

  • @ryanbaileyboxing
    @ryanbaileyboxing Жыл бұрын

    🔥

  • @murux328
    @murux3282 жыл бұрын

    Been waiting for the next William Green podcast. Thank you

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Hope you enjoyed it!

  • @RicherWiserHappier

    @RicherWiserHappier

    2 жыл бұрын

    Thanks so much! Warm wishes, William

  • @Monopolist91
    @Monopolist912 жыл бұрын

    Thank you for this, and asking my question about Burry and Lou. It bothered me how Joel has done a fair amount of interviews but they're all the same. Thank you for doing the research to ask some new thoughtful questions.

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    So happy to hear you enjoyed our episode!

  • @PatAlpaugh4
    @PatAlpaugh42 жыл бұрын

    Love it, Joel’s books are incredible!

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Happy to hear you enjoyed it, Patrick!

  • @RicherWiserHappier

    @RicherWiserHappier

    2 жыл бұрын

    Thanks so much for listening, Patrick. Warm wishes, William

  • @ben.sparham
    @ben.sparham2 жыл бұрын

    Brilliant investing mind :)

  • @Vivaz79

    @Vivaz79

    2 жыл бұрын

    Thank you for sharing the link Ben. Worthy of listening.

  • @ben.sparham

    @ben.sparham

    2 жыл бұрын

    @@Vivaz79 no problem :)

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Thank you for the support!

  • @TheInvestorsPodcastNetwork
    @TheInvestorsPodcastNetwork2 жыл бұрын

    Delighted to share my new #RicherWiserHappier podcast interview with the legendary investor Joel Greenblatt. We talk about how he invests his own money, meeting Warren Buffett, Bitcoin, & much more. - William We hope you enjoyed this episode as much as we did. Please let us know your thoughts in the comments section! IMPORTANT: Please beware of cyber scams & phishing attacks. We have received reports of fake accounts claiming to be affiliated with The Investor's Podcast Network or posing as one of our hosts. Please help us report those suspicious accounts. We will never reach out to you for any business or investment opportunity. Stay vigilant!

  • @arnabbhattacharya6579
    @arnabbhattacharya65792 жыл бұрын

    Awesome. ...please do a session with Saurabh MUKHERJEA of marcellus investment managers

  • @HaruSakamoto
    @HaruSakamoto2 жыл бұрын

    Absolutely awesome, one living legend...

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Thanks so much for tuning in!

  • @RicherWiserHappier

    @RicherWiserHappier

    2 жыл бұрын

    Thanks! Warm wishes, William

  • @simonroese2596
    @simonroese25962 жыл бұрын

    Wowwwwww 🥳🤯

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Thanks for watching, Simon!

  • @TheArtofValue
    @TheArtofValue2 жыл бұрын

    Always great to hear Joel Greenblatt speaking, always something new to pay attention to, and excellent interviewing by William. Thanks.

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Thank you for the kind words!

  • @RicherWiserHappier

    @RicherWiserHappier

    2 жыл бұрын

    Many thanks! Much appreciated. Warm wishes, William

  • @sisirksh1487

    @sisirksh1487

    2 жыл бұрын

    @@RicherWiserHappier ❤️

  • @vladbsr8739
    @vladbsr87392 жыл бұрын

    Thanks a lot for your efforts! Your book has impacted my life significantly. I literally bought it within 2 weeks of it being published after Guy Spier talked about it on Twitter. It changed the way I see my portfolio and it was a motivator to change jobs.

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Wonderful! Glad you enjoyed the episode.

  • @RicherWiserHappier

    @RicherWiserHappier

    2 жыл бұрын

    That's lovely to hear, Vlad. Many thanks. Warm wishes, William

  • @MetalBum
    @MetalBum Жыл бұрын

    Back then 8 mo ago was bad time for bitcoin nows a good time to DCA average into it😊

  • @WanderingExistence
    @WanderingExistence2 жыл бұрын

    I've listened to Joel speak and I like the ideas that he presents, but The thought in the back of my head keeps creeping in; He's underperformed the market in the past decade. Or Is it a sign his active strategy underperforms or is it just too short of a time span?

  • @aglumh5556

    @aglumh5556

    2 жыл бұрын

    Yeah I wonder this to, same goes warren buffett… I really understand their reasoning and I believe they’re correct (reading their books currently) but I don’t understand why they are underperforming themselves, I might aswel save the effort and just by s&p 500 than.

  • @sleepless2541

    @sleepless2541

    Жыл бұрын

    value underperformed for the past decade, style factors come and go in cycle, give it another 10 to 20 ish years then value would outperform again

  • @xilllllix

    @xilllllix

    Жыл бұрын

    i don't think this is true. i googled his fund performance for the past 10 years and his fund is up 172%! where did you get your data from?

  • @handymanird1632

    @handymanird1632

    Жыл бұрын

    @@xilllllix same question

  • @cv0669
    @cv06692 жыл бұрын

    Little book that beats the market is how I got into investing/Finance

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    So happy to hear that, Chris!

  • @ReflectionOcean
    @ReflectionOcean9 ай бұрын

    Look where no one is looking

  • @BradKaellner
    @BradKaellner2 жыл бұрын

    Why is the passive buy and hold portfolio with great businesses like Google and Microsoft a full-time job?

  • @RicherWiserHappier

    @RicherWiserHappier

    2 жыл бұрын

    Hi Brad -- great to see you here. Thanks a lot for listening. The way I took it was that Joel's early strategy of super-concentrated investments in special situations (like Host Marriott) was an intense, full-time job. By contrast, I think he was saying that having a few concentrated, buy-and-hold positions in great businesses like Google and Microsoft isn't that time-consuming, so he can combine that strategy easily with the diversified, long-short strategy that he now uses at Gotham Funds (which is another very time-consuming approach). I hope that helps! Warm wishes, William

  • @BradKaellner

    @BradKaellner

    2 жыл бұрын

    @@RicherWiserHappier Thanks William, that makes a lot more sense! And congrats on this new podcast project! It's such a gift to the value investing community, myself included :)

  • @RicherWiserHappier

    @RicherWiserHappier

    2 жыл бұрын

    @@BradKaellner Thanks so much -- really happy that you're enjoying these podcasts. It's a really interesting and enjoyable adventure for me. Stay well.

  • @hl3641
    @hl36412 жыл бұрын

    Nailed it on crypto scam ! Don’t get in whatever u don’t understand. Luna / Terra UST (USD pegged crypto ) went almost zero even it “promised” the peg, now is 1UST = 0.03USD lol…

  • @hl3641
    @hl36412 жыл бұрын

    Talents come from all places, rich or poor, white or non white use 10% as example. 10% of 90 poor kids must produce more talents than 10% of 10 rich kids on same recourses… period. As humanity as one, we need more talents, not more super rich people which 1% rich already took 80% of whole global wealth .

  • @MetalBum
    @MetalBum Жыл бұрын

    😂

  • @TheRetailFundManagerPH
    @TheRetailFundManagerPH2 жыл бұрын

    First

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Woot!

  • @bradynields9783
    @bradynields97832 жыл бұрын

    DCA into BTC and any investor will do fine.

  • @TheInvestorsPodcastNetwork

    @TheInvestorsPodcastNetwork

    2 жыл бұрын

    Thank you for watching, Brady!