Joel Greenblatt on Consuelo Mack WealthTrack 11/4/16

[valuebull]

Interesting interview of Joel Greenblatt by Consuelo Mack on 11/4/16...

 

In this 27 minute segment he talks about his new fund "Index Plus".  Investors get all the stocks in the market cap weighted S&P 500, along with an actively managed overlay which goes long the cheapest S&P 500 stocks and goes short the most overpriced of the S&P 500 stocks.

 

http://wealthtrack.com/greenblatt-hybrid-investing/

 

In this 2 minute segment he talks about the election and his optimism for America no matter who wins.  He also talks about the success of the charter school system in NYC that he is heavily involved in.

 

http://wealthtrack.com/election-education-impact/

[DooDiligence]

I watch her show regularly too.

 

Always varied & interesting!

[ScottHall]

Schooling is a fraudulent transfer of wealth & money laundering scheme from working and wealthy Americans to liberal professors and educators who would otherwise not be capable of making it in the real world. In return, children are brainwashed to support Democrats and Democrat causes. This has been going on for decades. It's no wonder that the higher the level of education, the bigger a Democrat you are likely to be. Anything that takes away from public schools and gives to private or alternative solutions is good by me.

 

I think it's so amazing that everyone is up in arms about the for-profit universities that figured out how to turn a profit off of a corrupt and horribly gamed system, and yet not a peep about the public of universities that provide education to millions of people who will never be able to pay back their student loans. At least the for-profits were honest about their intentions; but, classic Democrats, the real universities didn't want them shining a lot on the industry and figured that sending the Feds after them would be a good way to get competitors' mouths out of the trough at the same time.

 

I have made to sure to vote against all of the funding measures on the California ballot as far as the schools are concerned; if I had my way there would be no money spent on public education. It is a waste that goes to fat cats, pension benefits and what amounts to a giant make-work project.

 

[DooDiligence]

Schooling is a fraudulent transfer of wealth & money laundering scheme from working and wealthy Americans to liberal professors and educators who would otherwise not be capable of making it in the real world."

 

I wear a bunch of Motley Fool shirts because I was partially paid in them & they make up half my wardrobe.

 

Ahem...

[mhdousa]

Schooling is a fraudulent transfer of wealth & money laundering scheme from working and wealthy Americans to liberal professors and educators who would otherwise not be capable of making it in the real world. In return, children are brainwashed to support Democrats and Democrat causes. This has been going on for decades. It's no wonder that the higher the level of education, the bigger a Democrat you are likely to be. Anything that takes away from public schools and gives to private or alternative solutions is good by me.

 

I think it's so amazing that everyone is up in arms about the for-profit universities that figured out how to turn a profit off of a corrupt and horribly gamed system, and yet not a peep about the public of universities that provide education to millions of people who will never be able to pay back their student loans. At least the for-profits were honest about their intentions; but, classic Democrats, the real universities didn't want them shining a lot on the industry and figured that sending the Feds after them would be a good way to get competitors' mouths out of the trough at the same time.

 

I have made to sure to vote against all of the funding measures on the California ballot as far as the schools are concerned; if I had my way there would be no money spent on public education. It is a waste that goes to fat cats, pension benefits and what amounts to a giant make-work project.

 

This board is terrible now, and this is a prime example of why. WTF does this have to do with a Joel Greenblatt or investing at all?

 

 

[DonFanucci]

Schooling is a fraudulent transfer of wealth & money laundering scheme from working and wealthy Americans to liberal professors and educators who would otherwise not be capable of making it in the real world. In return, children are brainwashed to support Democrats and Democrat causes. This has been going on for decades. It's no wonder that the higher the level of education, the bigger a Democrat you are likely to be. Anything that takes away from public schools and gives to private or alternative solutions is good by me.

 

I think it's so amazing that everyone is up in arms about the for-profit universities that figured out how to turn a profit off of a corrupt and horribly gamed system, and yet not a peep about the public of universities that provide education to millions of people who will never be able to pay back their student loans. At least the for-profits were honest about their intentions; but, classic Democrats, the real universities didn't want them shining a lot on the industry and figured that sending the Feds after them would be a good way to get competitors' mouths out of the trough at the same time.

 

I have made to sure to vote against all of the funding measures on the California ballot as far as the schools are concerned; if I had my way there would be no money spent on public education. It is a waste that goes to fat cats, pension benefits and what amounts to a giant make-work project.

 

This board is terrible now, and this is a prime example of why. WTF does this have to do with a Joel Greenblatt or investing at all?

 

Joel funds charter schools. And I agree with you for the most part, Scott.

[DooDiligence]

My first comment was in regards to hybrid investing (didn't even watch the other vidi & could care less about your mindless rant.)

 

I've been avoiding the Presidential thread for this very reason (or rather; lack of reason...)

 

You guys would probably enjoy the Yahoo Finance forums a lot more (plenty of derailed threads there.)

 

Hack away; you'll get no further response from me.

 

Oh & thanks for the original post ValueBull!

[RichardGibbons]

Everything you've accomplished is in spite of what the education system had in store for you, not because of it.

 

Not me, a fellow Motley Fool writer. :)  A huge part of what I accomplished was because of the education system and the support of my government.  I wouldn't be even close to where I am without those two things. Thanks goodness those things are there, because pretty well everyone in my country would be so much worse off if they weren't.

 

Richard (the amply brainwashed)

[ScottHall]

Everything you've accomplished is in spite of what the education system had in store for you, not because of it.

 

Not me, a fellow Motley Fool writer. :)  A huge part of what I accomplished was because of the education system and the support of my government.  I wouldn't be even close to where I am without those two things. Thanks goodness those things are there, because pretty well everyone in my country would be so much worse off if they weren't.

 

Richard (the amply brainwashed)

 

That's probably true if you went to school for something you need a license for, otherwise it's probably not. I dropped out of the 4th grade and have done fine, and I don't view myself as an exceptionally bright person.

[RichardGibbons]

I dropped out of the 4th grade and have done fine, and I don't view myself as an exceptionally bright person.

 

Oh, you've got an anecdote. I didn't realize that. Consider your point proven--your ironclad evidence refutes anything I could possibly say.

[DooDiligence]

I dropped out of the 4th grade and have done fine, and I don't view myself as an exceptionally bright person.

 

Turns out we do have something in common...

[Patmo]

Scott Hall is 33% genius, 33% nuts and 33% troll. The remaining 1%? Well, it is 33% genius, 33% nuts and 33% troll. The remaining 1%? Well...

[randomep]

 

 

I watch Wealthtrack religiously but this is one installment I fastwarded and skipped. It sounds like just advertising for Greenblatts latest fund.... yadayada.......

[ScottHall]

I dropped out of the 4th grade and have done fine, and I don't view myself as an exceptionally bright person.

 

Oh, you've got an anecdote. I didn't realize that. Consider your point proven--your ironclad evidence refutes anything I could possibly say.

 

As opposed to conflating causal and correlative effects of formal education? I'm sorry for you that you feel bad enough about yourself to think that you wouldn't have amounted to anything without the government and the education system babying you. Maybe it is true in your case, but I hope not for your sake.

[petec]

I dropped out of the 4th grade and have done fine, and I don't view myself as an exceptionally bright person.

 

Oh, you've got an anecdote. I didn't realize that. Consider your point proven--your ironclad evidence refutes anything I could possibly say.

 

As opposed to conflating causal and correlative effects of formal education? I'm sorry for you that you feel bad enough about yourself to think that you wouldn't have amounted to anything without the government and the education system babying you. Maybe it is true in your case, but I hope not for your sake.

 

Whereas there is no conflating causal and correlative effect in the statement "It's no wonder that the higher the level of education, the bigger a Democrat you are likely to be".

[Patmo]

 

 

I watch Wealthtrack religiously but this is one installment I fastwarded and skipped. It sounds like just advertising for Greenblatts latest fund.... yadayada.......

 

Agreed 100%, that is his MO when going on this show. He always only goes there to market his latest product  Go back to his other interviews and you will see they are all the same thing...

[CorpRaider]

"This board is terrible now, and this is a prime example of why. WTF does this have to do with a Joel Greenblatt or investing at all?"

 

 

Liberal use of the ignore list feature may be in your future.

[DooDiligence]

"This board is terrible now, and this is a prime example of why. WTF does this have to do with a Joel Greenblatt or investing at all?"

 

 

Liberal use of the ignore list feature may be in your future.

 

Hopefully this is just symptomatic of all the angst & anger that's been getting spewed on the US presidential election thread (it's starting to resemble the Yahoo Finance forums.)

 

Personally I wish it would all disappear tomorrow & everyone can go back to being rational & restrained...

[RichardGibbons]

A huge part of what I accomplished was because of the education system and the support of my government.

A huge part of what I accomplished was because of the education system and the support of my government.

 

I'm sorry for you that you feel bad enough about yourself to think that you wouldn't have amounted to anything without the government and the education system babying you.

 

So, by missing school, you've missed out on reading comprehension and the scientific reasoning.  Any other big gaps?  Do you know what algebra is?

[RichardGibbons]

That said, it is interesting to think about where I'd be in a different political system.  I suspect that with the same parents in a much more libertarian system, if brains were helpful in getting you ahead, I'd have a good chance of being ahead of most people.  If other factors like EQ, brawn, or connections were more important, I think I'd probably be behind the average person.  I think Buffett has basically expressed the same sentiments.

 

In almost all reasonable scenarios, I suspect I'd be way behind where I am now--my country is designed rather nicely for me to get ahead in a low-risk way. In almost any libertarian system, I think connections to the wealthy and powerful would be more important than anything, except maybe parents, so I'd fail horribly.

 

It is an interesting thought though.  It really makes you appreciate a system where a person has a reasonable chance to better their position in the world (i.e. high income mobility).

 

[Picasso]

This thread is awesome.

[CorpRaider]

So, caught the interview.  It was pretty ok.  Always love me some JGB.  Consuelo seems to be slipping somewhat lately.  Lots of just general "market" questions.

[valcont]

When Hillary uses the game plan of her great uncle Friedrich Weimar and brings us the inflation of Weimar's Germany, we'll just see how great you think the government is. At that point it will be too late to fix the problem.

 

Who the hell is Friedrich Weimar? Is this some kind of fan fiction that I'm not privy to.

 

whereas if Donald wins today he can use his unparalleled experience in dealing with debt defaults and bankruptcies to navigate our way through America's imminent sovereign debt default.

 

Spot on there. If there is anything this man knows, it is to leverage, blow up and then bankrupt his investors. I mean the guy lost money owning a Casino.

Hillary Clinton knows how to make money, her net worth was zero in 2000 and now its in hundreds of millions. And she did it without getting prosecuted.

I just can't believe that we are so lucky that this kind soul agreed to rule over us and to help us get out of the mess that Bush got us in.

[ScottHall]

When Hillary uses the game plan of her great uncle Friedrich Weimar and brings us the inflation of Weimar's Germany, we'll just see how great you think the government is. At that point it will be too late to fix the problem.

 

Who the hell is Friedrich Weimar? Is this some kind of fan fiction that I'm not privy to.

 

whereas if Donald wins today he can use his unparalleled experience in dealing with debt defaults and bankruptcies to navigate our way through America's imminent sovereign debt default.

 

Spot on there. If there is anything this man knows, it is to leverage, blow up and then bankrupt his investors. I mean the guy lost money owning a Casino.

Hillary Clinton knows how to make money, her net worth was zero in 2000 and now its in hundreds of millions. And she did it without getting prosecuted.

I just can't believe that we are so lucky that this kind soul agreed to rule over us and to help us get out of the mess that Bush got us in.

 

I explain all about Friedrich Weimar in my review of Hillary's America, available to view in my signature.

 

I agree that Donald Trump has been selfless to risk reputation damage to his businesses in order to bring America back from insolvency.

[RichardGibbons]

There's high income mobility if you're a part of certain demographics. Look at the cycle of poverty so many minorities have been stuck in for decades/centuries, and tell me how great the government has done for helping these people.

 

LOL, no argument from me.  When I say, high income mobility, you know I'm Canadian, and talking about Canada and some of the European nations, right?

 

If a "huge part" of your success is because of the government, then sans government you likely wouldn't have had that success. If that's not true, then the government didn't have as much to do with it as you're claiming. I wouldn't be surprised if that's true, to be honest, and you're just saying it helped your life in a major way in order to justify your very naive political views.

 

Interesting black and white perspective, very different than mine.  I think if I were parachuted into Somalia, one of the countries with the least government, I'd have a really, really hard time trying to establish the lifestyle I have now.  Maybe you wouldn't, or maybe you're just naïve, and don't really understand how hard it would be.

 

To give a specific example, when I had a young family, I founded a company I later sold for millions.  But I couldn't have done that if I didn't live in a country with single-payer healthcare--I wouldn't be able to afford a health crisis. To risk bankrupting myself or losing a family member to some random disease because I wanted to tilt at windmills would've been the height of irresponsibility.  So, without that government help, there's a good chance I wouldn't have been as successful.  Maybe I would have--it's hard to know exactly how alternative futures would've worked out.  But it's unlikely.

 

So yeah, I'm brainwashed.  Just a zombie. "Grr.  Argh.  Brains."

 

When Hillary uses the game plan of her great uncle Friedrich Weimar and brings us the inflation of Weimar's Germany, we'll just see how great you think the government is. At that point it will be too late to fix the problem, whereas if Donald wins today he can use his unparalleled experience in dealing with debt defaults and bankruptcies to navigate our way through America's imminent sovereign debt default.

 

Wow, you sound so confident.  You should absolutely bet on this. 20 or 25% of your portfolio in options on hyperinflation happening in the next five years.  You'll make millions.  Hundreds of millions!

 

I guess I shouldn't be surprised the liberals are willing to let our country fail rather than acknowledge that all of the debt Obama has created and the social programs of FDR have forced us to the brink of national bankruptcy. Socialism doesn't work, folks, and it never did.

 

LOL, yeah.  Just assert it doesn't.  Ignore income mobility stats, happiness stats, really almost anything.  Funny thing is, I'm in a country far more socialist than yours, yet it has lower debt to GDP, better income mobility, and equivalent healthcare at a far lower price.  Yet you'd rather just wave your hands and scream "Socialism is evil!" than actually analyse the situation and figure out what works. Socialism works well in some situations, and capitalism works well in some situations, and it is possible to combine them in productive ways.

 

(I mean, I know you don't really care about how reality works, but why don't you think about what metrics you care about, and then look at the countries that have excelled in those metrics, rather than just mindlessly bleating ideology?)