Why do investors underperform the very funds they invest in? Great Investor, Joel Greenblatt solved the problem. His Gotham Index Plus Fund has beaten the market since its 2015 inception without spooking investors.
WEALTHTRACK Episode #1542 broadcast April 5, 2019.As WealthTrack embarks on an exciting new chapter as a podcast, we’re looking back at the conversations that shaped the series. Introducing WEALTHTRACK CLASSICS: Throughout the summer, we’ll revisit some of the most memorable interviews from our archives, featuring timeless investing lessons that continue to resonate today.
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JOEL GREENBLATT
- Co-Founder & Co-Portfolio Manager, Gotham Index Plus Fund
ACTION POINT
INVEST WITH FUNDS AND FIRMS THAT ARE COMMITTED TO PATIENT INVESTING
- Most investment managers and firms don’t have patience, ability or desire to stick with long-term strategy
- Short-term oriented world
- Investors under pressure to fire underperforming funds and hire outperforming funds
BOOKSHELF
Legendary value investor Joel Greenblatt and his longtime investment partner Robert Goldstein have a superb long-term track record as hedge fund managers but discovered that many of their investors couldn’t tolerate the volatility that came with it. They set out to find a strategy that not only makes sense but is also one that investors can live with. Download their paper here.
ONE INVESTMENT
OWN VANGUARD VALUE ETF (VTV)
- Good long-term play
- Underperformed for a long time
- Relative bargain to the S&P 500