Joel Greenblatt is a renowned hedge fund manager, value investor, author, and academic, celebrated for his innovative investment strategies and educational contributions to the finance world. After earning his B.S. summa cum laude in 1979 and his M.B.A. in 1980 from the Wharton School of the University of Pennsylvania, Joel Greenblatt quickly established himself as a prominent figure in finance.
His early academic work included publishing ‘How the small investor can beat the market’ in The Journal of Portfolio Management in 1981. In 1985, Mr. Greenblatt founded Gotham Capital, a hedge fund launched with an initial investment of $7 million. Under his leadership, Gotham Capital delivered significant returns, achieving an annualized return of 50% (before incentive fees) or 30% (net of all fees) between 1985 and 1994.
The firm specialized in ‘special situations’ such as spinoffs and corporate restructurings, leading to the return of approximately $500 million of capital to its outside partners in January 1995. Following this success, Mr. Greenblatt continued to make significant contributions to the financial industry, serving as Chairman of the Board of Alliant Techsystems from 1994 to 1995. While Gotham Capital was closed to outside investors from 1995 to 2009, its investment advisory business transitioned to Gotham Asset Management, LLC, which was founded in 2008.
He also co-founded the Value Investors Club, an online community for approved investors to exchange sophisticated investment ideas. Dedicated to broader educational and philanthropic endeavors, Mr. Greenblatt co-founded the highly successful Success Academy Charter Schools in 2006, significantly impacting public education. He also demonstrated his commitment to community support with a notable $2.5 million donation to P.S.
65Q in Queens in 2002. His most recent publication, Common Sense The Investors Guide to Equality, Opportunity, and Growth, released in 2020, reflects his ongoing engagement with contemporary financial and societal discussions.