Capital Allocators – Inside the Institutional Investment Industry

Joel Greenblatt – Common Sense for Value at Gotham Capital (Capital Allocators, EP.165)

Nov 23, 2020

In this engaging conversation, legendary value investor Joel Greenblatt shares insights from his illustrious career and his latest book, 'Common Sense: The Investor’s Guide to Equality, Opportunity, and Growth.' He discusses his evolution from a concentrated to a diversified portfolio strategy and reflects on the emotional challenges of managing investments. Greenblatt also delves into the importance of the Value Investors Club, innovative educational reforms, and his InvestFive initiative, which encourages disciplined saving habits for everyone.

01:14:25

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Episode guests

Joel Greenblatt

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Quick takeaways

Joel Greenblatt emphasizes the importance of finding undervalued assets through value investing principles for successful investment decisions.

Transitioning to a diversified investment model prioritizes risk management, seizing opportunities, and ensuring sustainable returns in a dynamic market environment.

Individual investors' advantage lies in their longer time horizon, enabling them to capitalize on intrinsic value, navigate market volatility, and focus on long-term success.

Deep dives

The Evolution of Investment Platforms

Investment platforms like Ten East offer sophisticated investors access to private markets without the cost and complexity of managing a family office. These platforms, led by experts like Michael Lefel, source diverse investment opportunities such as private credit, real estate, and venture capital, providing exposure to unique investments not easily accessible through traditional channels.

Intro

3min

From Passion to Portfolio: An Investor's Journey

19min

The Journey of Investment Writing and Philosophy

17min

The Evolution of the Value Investors Club

5min

Navigating Investment and Educational Inequities

21min

Challenges of Adapting Investment Concepts to Medical Research

2min

Empowering Saving: The InvestFive Initiative

2min

Embracing the Journey: Life Lessons and Investment Insights

9min

Joel Greenblatt is a legendary value investor, founder of Gotham Capital, longtime teacher at Columbia Business School, and author of four investment books, the latest of which, Common Sense: The Investors’ Guide to Equality, Opportunity, and Growth recently hit the bookstands.

Our conversation takes a tour through Joel’s career. We cover his background, early success running a concentrated portfolio, closing of the fund to manage his own money, and re-opening with a more diversified approach. We discuss Joel’s timeless investment beliefs and along the way also discuss the Value Investors Club, seeding managers, and applying investment lessons to education.

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