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Joel Greenblatt And Richard Pzena: 2019 Ben Graham VI Annual Conference [Notes]

Jacob Wolinsky
Jacob Wolinsky
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Notes from Joel Greenblatt And Richard Pzena’s keynote presentation from the 2019 Ben Graham VI Annual Conference, which took place on Wednesday, June 19.

See the full notes here.

Q2 hedge fund letters, conference, scoops etc

Joel Greenblatt

Keynote Presentation

Joel Greenblatt

Managing Principal and Co-Chief Investment Officer, Gotham Asset Management

Richard S. Pzena

Founder and CIO, Pzena Investment Management, LLC

  • The current environment
  • Spreads between value and growth are widest
  • Observations now, different or the same
  • Long growth and short value, doesn’t make sense
  • How do you define growth and value? Tied to the hip
  • Yes, no, maybe, I don’t care
  • How do you define value?
  • Value the business, try to buy at discount
  • PE looking at cash flow and reasonable growth over...

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Jacob Wolinsky

Jacob Wolinsky is the ex-Founder of Valuewalk.com (founded 2011, sold 2023). He is founder of HedgeFundAlpha (formerly ValueWalk Premium), a hedge fund focused intelligence service for institutional investors. Prior to founding Valuewalk, Jacob covered small caps, worked recruiting members for a large hedge fund community and freelance financial journalism. Jacob lives with his wife and six kids in Passaic Park NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal ID. Other methods of secure communication are also available. FD: Most of my portfolio is in I mostly purchase broad-based ETFs, mutual funds or individual bonds - I do this for performance reasons and to avoid any potential conflict of interest or occasional receipt of insider information. I will disclose if I have a stake in any company, but in general I have few stocks and I avoid any trading especially around topics I am covering.