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The Investor's Podcast (We Study Billionaires)  - The Investor’s Podcast Network

RWH003: How To Win The Investing Game w/ Joel Greenblatt

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Business, Education, Investing

4.63.6K Ratings

🗓️ 29 March 2022

⏱️ 98 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU'LL LEARN: How Joel Greenblatt crushed the market by making big, bold bets on cheap stocks. How a freak investment disaster taught him never to forget that bad things happen. Why he believes that the greatest investors tend to have “a screw loose.” How he handles the emotional pain and stress of investing. Why he never bought Bitcoin—and has no regrets about it. How he made a killing by studying Warren Buffett’s purchase of Coca-Cola stock. Why he admires Buffett even more after spending time with him in person. Why Greenblatt still believes in his “magic formula” for picking cheap and good stocks. Which exceptional businesses he owns for the long term in his personal stock portfolio.  Why he feels “blessed” and “lucky”—and owes it to society to share his good fortune. What career advice and investment books he’s given to his five children. *Disclaimer: Slight timestamp discrepancies 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, and the other community members. Joel Greenblatt’s mutual fund company, Gotham Funds. Joel Greenblatt’s best-selling classic The Little Book That Still Beats The Market. Stig and Preston discuss Joel Greenblatt’s book You Can Be a Stock Market Genius. Joel Greenblatt’s Magic Formula Investing website. Joel Greenblatt’s network of charter schools, Success Academy. William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book. William Green interviews Howard Marks on RWH002: Investing Wisely In An Uncertain World. William Green interviews Tony Robbins on RWH001: The Life Force Revolution. William Green interviews Ray Dalio on WSB410: The Changing World Order. SPONSORS Support our free podcast by supporting our sponsors: HardBlock Human Rights Foundation Vanta Unchained Netsuite Shopify Fundrise HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP.

0:02.6

Hi there, I'm really excited about today's episode.

0:05.7

My guest is Joel Greenblatt, who's one of the most successful hedge fund managers in history.

0:10.3

Joel famously set up a hedge fund when he was 27 years old and then managed to average

0:15.5

a return of 40% a year over the next 20 years.

0:19.4

At that rate, a million dollars turns into $836 million, which I think you'll agree

0:24.4

as a pretty mind-blowing achievement.

0:26.6

I wrote about Joel at length in my book, Richard Weiserhappier, and what really struck me

0:31.5

is that he has this incredible gift for simplifying the game of investing.

0:36.2

Nobody I've met thinks or talks more clearly and logically about how to play this game successfully.

0:42.9

One reason for that is that he's not just a great investor, he's also a superb teacher.

0:48.7

He taught a value investing course at the Columbia Business School for over 20 years,

0:53.0

and he's also written several best-selling books about the art of investing.

0:57.0

I think that process of teaching and writing really helped him to distill in a wonderfully clear

1:02.4

and simple way what works in investing and what doesn't work.

1:06.8

There's also one other reason why I'm particularly happy to be interviewing Joel in this episode.

1:11.6

As I'm sure you'll see, he's just a lovely guy who's extremely modest and decent and good-natured.

1:18.3

It's really impressive to me how humble and grounded he's managed to remain

1:22.2

despite all of his success and fame and adulation.

1:25.9

Personally, he's just one of the people I like and admire most in the investing world.

1:31.1

In this conversation, we talk about how he deals with the emotional intensity and stress of investing.

1:37.5

We talk about the importance of playing games that you're truly equipped to win

...

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