Clay and Roger Fan discuss Joel Greenblatt's book, “You Can Be a Stock Market Genius.” Greenblatt, a legendary hedge fund manager, averaged 40% annual returns over 20 years, turning $1 million into $836 million. Roger Fan is the Chief Investment Officer at RF Capital Management. RF Capital seeks to achieve superior risk-adjusted returns by investing in obscure, undervalued companies globally. Roger’s Firm: https://www.rfcapitalmanagement.com/ IN THIS EPISODE YOU’LL LEARN: 0:00:00 - Intro 0:01:24 - Who is Joel Greenblatt 0:05:50 - Why special situations can make for great investments 0:09:50 - Spinoffs 0:15:24 - How to identify spinoff opportunities 0:18:27 - Host Marriott Case Study 0:20:51 - Desirable traits in a spinoff transaction 0:27:25 - How Greenblatt tripled his money in four months 0:31:02 - Risk and Merger Arbitrage 0:38:06 - L'Occitane Risk Arbitrage Case Study 0:45:20 - Bankruptcies & Re-orgs 0:53:19 - Eddie Lampert Special Situation Masterclass 1:03:36 - Which special situations Roger prefers to invest in 1:06:11 - Portfolio Concentration 1:09:28 - Outro 🤝 Network with like-minded value investors and get new stock ideas by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 📊 Add the Fundrise Flagship Fund to your portfolio in just minutes and with as little as $10. http://fundrise.com/wsb 💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ ▶️ RELATED EPISODES: - Secrets of Investment Success w/ Joel Greenblatt: https://youtu.be/U3PLytnB1qM - Joel Greenblatt’s Investing Philosophy: https://youtu.be/XNgPCSUaYUo - Joel Greenblatt's Book, You Can Be A Stock Market Genius: https://youtu.be/PXIq7Mx8nDU - Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis: https://youtu.be/uZFB3EVCBbw - Investing In Uncertain Times w/ Joel Greenblatt, Bill Miller, Howard Marks, François Rochon: https://youtu.be/TYVR7LwaevU 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/episodes/you-can-be-a-stock-market-genius-roger-fan/ 📖 BOOK MENTIONED: - You can be a Stock Market Genius by Joel Greenblatt: https://amzn.to/3OiWY8F - The Little Book that Beats the Market by Joel Greenblatt: https://amzn.to/3OlhCFc 💡 OTHER RESOURCES - Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a 14-day free trial: https://www.sahg6dtr.com/59QC8Z/R74QP/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙 On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/ 📝 Help us understand our audience better so we can create a more intentional user experience by answering this survey! https://www.theinvestorspodcast.com/survey2023-youtube ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.