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How Joel Greenblatt Bought Marriott’s Discards For $4/share And Watched It Go To $12 [Exclusive]

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Michelle deBoer-Jones
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During a recent fireside chat, the legendary Joel Greenblatt of Gotham Asset Management joined the Hedge Fund Association to talk about the current state of the global financial markets, the return of value investing, and more.

Moderator Paul Gray of Ironhold Capital, regional director of New York for the Hedge Fund Association, started by asking Greenblatt about his investment philosophy and how other value investors who came before had shaped his approach.

Joel Greenblatt’s Investment Philosophy

Greenblatt attended Wharton in the late 1970s as an undergraduate, and they were teaching about efficient markets. However, he said those lessons didn't make much sense to him. Of course, investors relied on newspapers for stock information in those days.

Q1 2023 hedge fund letters,...

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Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.