2024-11-22
1 小时 17 分钟You're listening to tip.
On today's episode, I'm joined by my friend Roger Fan to discuss Joel Greenblatt's book, you Can Be a Stock Market Genius.
Joel Greenblatt is one of the greatest hedge fund managers of all time, as he famously averaged 40% a year over 20 years.
At that rate, $1 million grows into 836 million.
Greenblatt is also the author of best selling classics like the Little Book that Beats the Market and was a key character in William Green's book Richer, Wiser, Happier.
Now, my guest today is Roger Fan, who's the Chief Investment Officer at RF Capital Management and he likes to invest in these types of businesses that are discussed in Greenblatt's book.
You can be a stock market genius, which is Special Situations.
Rogers returns at RF Capital since inception in 2017 are 14% versus 12% for the S&P 500.
And over the past five years he's had returns of 19.3% per year, generating 6 percentage points in alpha over that time period.
During this conversation, Roger and I give an overview of Joel Greenblatt's background as an investor, author, teacher and philanthropist.
Why Greenblatt focused much of his attention on special situations to beat the market, what a spinoff is and why they are ripe hunting grounds for mispricings.
One of Greenblatt's favorite case studies for spinoffs.
The three key characteristics to look for in a spinoff transaction for investors, how Joel Greenblatt views investing in bankruptcy deals and risk arbitrage situations, which situations Roger prefers to invest in and whether he's adopted Greenblatt's highly concentrated investing approach and much more.
This was a great chat with a sharp investor, so I hope you enjoy today's discussion with Roger fan.
Celebrating 10 years and more than 150 million downloads, you are listening to the Investors podcast network.
Since 2014, we studied the financial markets and read the books that influence self made billionaires the most.
We keep you informed and prepared for the unexpected.
Now for your host, Clay Fink.
All right, welcome to the Investors Podcast.
I'm your host, Clay Fink and today I'm happy to welcome my friend Roger Fan to the show.