New York City – Joel Greenblatt, founder of Gotham Asset Management and bestselling author of, You Can be a Stock Market Genius, said in an interview on CNBC that, “you actually can’t be a stock market genius because you are too stupid.”
Joel Greenblatt’s, You Can be a Stock Market Genius, published in 1999, has been a top selling investment book for the past three decades. In the book, Joel shows investors his secret sauce to beating indexes through several different investing strategies: spin-offs, restructurings, merger securities, rights offerings, recapitalizations, bankruptcies and risk arbitrage.
“I wish I would have never written that book,” Joel stated with his head in his hands. “These millennial idiots are never going to be stock market geniuses. I’ve never seen a dumber investing crowd than millennials.”
Greenblatt is also the founder of Value Investors Club – a website where members can post their favorite investing ideas. “No one can become a member of VIC anymore. We shut that feature down decades ago.”
Joel stated how VIC would get the dumbest writeups sent to it. “I thought it would have been a great way to crowd source investing ideas. But all we get are idiotic one-page writeups how Tesla is a deep value stock and bitcoin is the next Amazon. I’m pretty sure this is Value Investors Club, not the Motley Fool.”
Joel is working on his third novel this summer, The Little Book that Proves you are an Idiot and should Invest in Index Funds, will be published this summer. “I’m sick of all of these millennial idiots who think they are going to be the next Warren Buffett,” Joel said. “The likelihood of becoming an investing superstar is zero.”
