Secrets of Investment Success w/ Joel Greenblatt (RWH003)

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.

📖 BOOKS MENTIONED:

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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.

[BradKaellner]

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

[Value_Pilgrim]

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.

[jdp]

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

[frankbaozhu]

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.

[octhx]

45:01 Acquirer's multiple vs Magic formula

[bradable]

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.

[AlessandroOrlandi]

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

[TedErhartCFP]

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

[learner-long-life]

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?

[tomerleviatan]

Great addition to TIP This RWH addition is just wonderful !

[Monopolist]

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.

[brianbirnbaum]

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

[TheInvestorsPodcastNetwork]

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!

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[snookerfan]

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

[Historyteacheraz]

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.

[murux]

Been waiting for the next William Green podcast. Thank you

[BradKaellner]

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

[vladbsr]

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.

[arnabbhattacharya]

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

[TheArtofValue]

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