Aug 29, 2026 · 25 min · 11 segments
Why do investors underperform the very funds they invest in? Great Investor, Joel Greenblatt solved the problem. His Gotham Index Plus Fund has beaten the market since its 2015 inception without…
Joel GreenblattGuestConsuelo MackHostA piece of advice for individual investors, given the fact that we've had this 10-year bull market, stock prices are pretty expensive.
Do you have any advice for individual investors on kind of how to navigate maybe the next 10 years?
Well, you know, I wrote in my book, The Big Secret, and I'm telling you the answer now because, like I said, it's still a secret.
If you think that if the market falls 40%, you can only handle about 25% loss of your portfolio, maybe you're better off only being 60% or 70% long the market.
And when you get bullish, once you decide that, when you get bullish, I'll let you add 10% to that.
Not that you'll be right, you'll be wrong, but I'm trying to limit how much you mess up your portfolio within a narrow range.
A piece of advice for individual investors, given the fact that we've had this 10-year bull market, stock prices are pretty expensive.
Do you have any advice for individual investors on kind of how to navigate maybe the next 10 years?
Well, you know, I wrote in my book, The Big Secret, and I'm telling you the answer now because, like I said, it's still a secret.
If you think that if the market falls 40%, you can only handle about 25% loss of your portfolio, maybe you're better off only being 60% or 70% long the market.
And when you get bullish, once you decide that, when you get bullish, I'll let you add 10% to that.
Not that you'll be right, you'll be wrong, but I'm trying to limit how much you mess up your portfolio within a narrow range.
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