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Other titles in the Little Book, Big Profits series:
The Little Book That Beats the Marketby Joel Greenblatt
Synopses & Reviews
Can you spare two hours to learn how to beat the market?
As unlikely as it may seem, hedge fund manager and professor, Joel Greenblatt, whose investment firm has averaged 40% annual returns for over twenty years, can teach you how. You can achieve investment returns that beat the pants off even the best investment professionals and the top academics. In fact, you can learn how it's possible to more than double the annual returns of the stock market averages.
But there's more. You can do it all by yourself. You can do it with low risk. You can do it without making any predictions, and you can do it by following, step by step, a "magic formula" that uses only common sense and two simple concepts. Best of all, once you are convinced that it really works you can choose to do it for the rest of your life.
In The Little Book That Beats the Market, Greenblatt shows how successful investing can be made easy for investors of any age. Through entertaining anecdotes and practical pearls of wisdom, the book explores the basic principles of successful stock market investing and then reveals a "magic formula" that makes buying good companies at bargain prices automatic.
The formula has been tested over hundreds of different periods and thousands of stock picks and has been proven extremely profitable for those who are willing to "stick with it." Greenblatt guides you down the path of investment success and explains why his approach will continue to work—even after everyone "knows" it.
It's never too early or too late to start investing, and by following the simple steps and magic formula that are clearly outlined and explained, you can achieve extraordinary long-term investment results with a very low level of risk. With The Little Book That Beats the Market as your guide, you'll know exactly where to go and what to do—and it won't even take much time, just a little effort every few months.
"Contrary to efficient-market naysayers, this engaging investment primer contends that ordinary stock-market investors can indeed get better-than-market returns over the long haul. Greenblatt (You Can Be a Stock Market Genius), a Columbia Business School adjunct professor, touts a 'value-oriented' approach that looks for bargain stocks whose share price is cheap relative to the company's profitability. His version is a 'magic formula' that ranks stocks on the basis of two variables — the earnings yield and the business's return on capital. His Web site, magicformulainvesting.com, virtually automates the procedure for novices. Greenblatt offers lots of statistical proof of the formula's success, but emphasizes the importance of faith in seeing the investor through inevitable short-term downturns: 'It will be your belief in the overwhelming logic of the magic formula that will make the formula work for you in the long run.' He conveys his ideas through a lucid if rudimentary and rather corny explanation of basic investment concepts about risk, return, interest and business valuation. Although the fabulous returns he touts seem too good to be true, Greenblatt's formula is a reasonable variant of mainstream value-investing methods. Investors seeking a little more hands-on excitement than the average mutual fund offers won't go too far wrong following his advice." Publishers Weekly (Copyright Reed Business Information, Inc.)
Greenblatt sets out the basic principles of successful stock market investing and shows readers how Rbeating the marketS can be made simple and easy. "The Wall Street Journal" calls this investment book Rone of the best, clearest guides to value investingS available.
Two years in MBA school won't teach you how to double the market's return. Two hours with The Little Book That Beats the Market will.
In The Little Book, Joel Greenblatt, Founder and Managing Partner at Gotham Capital (with average annualized returns of 40% for over 20 years), does more than simply set out the basic principles for successful stock market investing. He provides a "magic formula" that is easy to use and makes buying good companies at bargain prices automatic. Though the formula has been extensively tested and is a breakthrough in the academic and professional world, Greenblatt explains it using 6th grade math, plain language and humor. You'll learn how to use this low risk method to beat the market and professional managers by a wide margin. You'll also learn how to view the stock market, why success eludes almost all individual and professional investors, and why the formula will continue to work even after everyone "knows" it.
Praise for The Little Book That Beats the Market
"A landmark book—a stunningly simple and low-risk way to significantly beat the market!"
—Michael Steinhardt, the Dean of Wall Street hedge fund managers
"Simply perfect. Joel has made beating the market both simple and clear. One of the most important investment books of the last 50 years!"
—Michael F. Price, MFP Investors, LLC, and called "Wall Street's Foremost Value Investor" by Fortune magazine
A GUIDE TO BEATING THE MARKET FOR ALL AGES
Two years in Business school won't teach you how to beat the market. Two hours with The Little Book That Beats the Market will. Let Joel Greenblatt, founder and a managing partner at Gotham Capital (with average annualized returns of 40% for over twenty years), show you how "beating the market" can be made simple and easy.
The Little Book That Beats the Market does more than simply set out the basic principles for successful stock market investing, it provides a "magic formula" that is easy to use and makes buying good companies at bargain prices automatic. Though the formula has been extensively tested and is a clear breakthrough in the academic and professional world, the commonsense method is convincingly explained using sixth grade math skills, plain language, and humor. Readers will learn how to use this low-risk method to beat the market and professional managers by a wide margin. Along the way, readers will also learn how to view the stock market; why success eludes almost all individual and professional investors; and why the formula will continue to work even after everyone "knows" it.
About the Author
JOEL GREENBLATT is the founder and a managing partner of Gotham Capital, a private investment partnership that has achieved 40% annualized returns since its inception in 1985. He is a professor on the adjunct faculty of Columbia Business School, the former chairman of the board of a Fortune 500 company, the cofounder of ValueInvestorsClub.com, and the author of You Can Be a Stock Market Genius. Greenblatt holds a BS and an MBA from the Wharton School.
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