Career in finance[edit]
Gotham Capital[edit]
In 1985, Greenblatt started a hedge fund, Gotham Capital, with $7 million, most of which was provided by junk-bond king Michael Milken.[3] Through his firm Gotham Capital, Greenblatt presided over an impressive annualized return of 40% from 1985 to 2006.[4]
Value Investors Club[edit]
Greenblatt co-founded a website with John Petry called the Value Investors Club,[5] where investors approved through an application process exchange value and special situation investment ideas. Membership is capped at 250 members and considered highly prestigious.[6] A 2012 academic study showed that the recommendations of members do in fact appear to generate significant abnormal profits.[7] The club awards $5000 bimonthly to members who provide the best advice.[8]
Magic formula investing[edit]
His book The Little Book that Beats the Market introduced an investment strategy of "magic formula investing", which is a method for determining which stocks to buy: "cheap and good companies" with a high earnings yield and a high return on invested capital. His strategy is featured in The Guru Investor by John P. Reese.
Formula Investing[edit]
In October 2009 he launched Formula Investing,[9] an online money management firm that follows the investment strategy described in his New York Times bestselling book The Little Book That Beats the Market. Formula Investing is a money management firm that uses a proprietary stock-screening system and a disciplined approach to manage portfolios of value stocks. The firm offers its services to individual investors and institutions and to registered investment advisors, who can use Formula Investing as a sub-advisor.
Formula Investing uses a system that determines portfolio selections based on a combination of their relative cheapness and quality, as measured by earnings yield and return on capital. Formula Investing allows money to be managed in a disciplined manner that removes factors, like excess emotion and future projections, that often lead to bad investment results.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น