On today’s episode, Clay is joined by Roger Fan to discuss Joel Greenblatt’s book, “You can be a Stock Market Genius.” Joel Greenblatt is 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 Green’s book, “Richer, Wiser, Happier.” 

Roger Fan is the Chief Investment Officer at RF Capital Management. RF Capital seeks to achieve superior risk-adjusted returns by investing in obscure, undervalued companies globally.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:22 - An overview of Joel Greenblatt’s background as an investor, author, teacher, and philanthropist.

06:22 - Why Greenblatt focused much of his attention on special situations to beat the market.

10:47 - What a spinoff is and why they are ripe hunting grounds for mispricings.

19:04 - One of Greenblatt’s favorite case studies for spinoffs.

21:01 - The three key characteristics to look for in a spinoff transaction for investors.

33:50 - How Joel Greenblatt views investing in bankruptcy deals.

58:50 - Which special situations Roger prefers to invest in.

01:11:03 - How Roger approaches concentration in his portfolio.

And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

• Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
• Roger’s Firm: RF Capital Management.
• Joel Greenblatt’s books: You Can Be a Stock Market Genius, The Little Book That Beats the Market.
• Related Episode: RWH003: How To Win The Investing Game w/ Joel Greenblatt.
• Related Episode: TIP339: Common Sense Investing w/ Joel Greenblatt.
• Follow Roger on Twitter & LinkedIn.
• Follow Clay on Twitter.
• Check out all the books mentioned and discussed in our podcast episodes here.
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