Joel Greenblatt’s most recent book, “Magic Formula Investing” deals with the basic philosophy of buying stocks from high earning companies cheaply that will then yield high returns on your investment. There exist only one Magic Formula Fund which is reporting recording stocks as of this day .
This idea follows the launch of his online money management company, Formula Investing, last October, in which he offers clients “a unique stock screening system, and a disciplined approach to managing portfolios of high value stock” for them. He is also the author of “The Little Book That Beats The Market”, which was on the NY Times bestseller list, as well as “You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits”, published back in 1997.
Born in Great Neck on the north shore of Long Island on December 13, 1957, Greenblatt, served as the former chairman of Alliant Techsystems, and is the founder of the New York Securities Auction Corp. He also began Gotham Captial, a hedge fund backed by Michael Milken (the infamous “junk bond king”) in 1985.
In addition to his devotion to investing on Wall Street, Joel Greenblatt firmly believes in investing his own money in New York City’s educational system, particularly those schools catering to minority students.
Not only did he gift $2.5 million to the Ozone Park, NY elementary school PS 65Q, whose student body is primarily made up of kids from South Asian and South American immigrant families, but he also held found a charter school in Manhattan known as the “Harlem Success Academy” in 2006. Both schools continue to receive his support and have merited high marks for their growing academic achievements. In addition, Greenblatt serves on the board for the Institute for Student Achievement, which works to develop small senior high schools out of larger ones in order to raise the standard of education in communities across the country.