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You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits [Paperback]

Joel Greenblatt
4.9 out of 5 stars  See all reviews (20 customer reviews)
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Book Description

Feb. 25 1999
A comprehensive and practical guide to the stock market from a successful fund manager—filled with case studies, important background information, and all the tools you’ll need to become a stock market genius.

Fund manager Joel Greenblatt has been beating the Dow (with returns of 50 percent a year) for more than a decade. And now, in this highly accessible guide, he’s going to show you how to do it, too. You’re about to discover investment opportunities that portfolio managers, business-school professors, and top investment experts regularly miss—uncharted areas where the individual investor has a huge advantage over the Wall Street wizards. Here is your personal treasure map to special situations in which big profits are possible, including:

· Spin-offs
· Restructurings
· Merger Securities
· Rights Offerings
· Recapitalizations
· Bankruptcies
· Risk Arbitrage

Frequently Bought Together

You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits + The Intelligent Investor: The Definitive Book on Value Investing + One Up On Wall Street: How To Use What You Already Know To Make Money In The Market
Price For All Three: CDN$ 46.02


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Product Description

From Library Journal

The stock-market profits that investment pro Greenblatt is chasing are found in some areas not usually considered by the average investor: spin-offs, mergers, risk arbitrage, restructurings, rights offerings, bankruptcies, liquidations, and asset sales. Greenblatt acknowledges that pursuing them will require some time, effort, patience, and experience. But he argues that because these areas are not overstudied by the analysts, possible market inefficiencies can be exploited. He explains each area with case studies from his own experience. Librarians will love his answer to the question, "Where can you find these special investment opportunities?"?read, read, read?and he gives the best places to look, emphasizing that you can pirate good ideas but you still need to do your own homework. None of this should be beyond the experienced investor (Greenblatt himself says he doesn't "like to work too hard to understand an investment"), but it is probably beyond the neophyte.?Alexander Wenner, Indiana Univ. Lib., Bloomington
Copyright 1997 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

Review

The Wall Street Journal Joel Greenblatt can indeed teach you about the market and how fortunes can be made there.

Andrew Tobias bestselling author of The Only Investment Guide You'll Ever Need I hope few investors will read this smart, sophisticated, fun book. I don't want competition profiting from its very real insights.

Alan C. "Ace" Greenburg Chairman of the Board, Bear Stearns Joel is my kind of guy -- very, very long on common sense. This book is great!

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Most helpful customer reviews
9 of 9 people found the following review helpful
5.0 out of 5 stars Phenomenal Aug. 6 2003
Format:Paperback
In a world filled with mutual fund managers who make millions for underperforming the S&P over the duration of their careers, students of investing should always ask to see a teacher's audited investment results before listening to a word.
Joel Greenblatt produced 50%+ annual returns over ten years. To put this superlative performance in context, it is better than Warren Buffet's. Quite simply: Greenblatt is an investing master and his teachings are worthy of special consideration.
The pleasure of this book is its simplicity. The kind of rigorous homework Greenblatt suggests is not easy to do in practice, but this is a key reason why it can be such fruitful work to do. Greenblatt's logic is driven by simple, fundamental and powerful truths: a) investing only in your best few ideas tends to lead to a higher quality portfolio, b) doing work where others are not contributes to an investment edge and c) there is statistical evidence to show that value investing and special situations outperform the broader market over time.
The book is filled with humor, common sense and a lot of investing wisdom. Greenblatt has opened the door, students must walk through it themselves...
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4 of 4 people found the following review helpful
5.0 out of 5 stars One of the Best Stock Investing Books There Is July 15 2004
Format:Paperback
Greenblatt does a good job explaining spinoffs, mergers, bankruptcies, etc. and how they can be create market-beating investments. He presents data backing up his theories, and also provides many good examples of finding such investment situations. He also explains the criteria for what qualifies a good risk/reward ratio in these types of investments.
However, one thing I want to point out is that you have to definitely do some research on each investment if you want to truly put Greenbaltt's put methods into efective practice. If you are willing to go through SEC filings and do thoroguh research on each investment you make, then the type of investing found in this book might be right for you.
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8 of 9 people found the following review helpful
3.0 out of 5 stars A great book for Wall Street Novice June 2 1999
By A Customer
Format:Hardcover
Many readers probably never realized that this book gives out some of the best money-making secrets on Wall Street (somebody has to blow the whistle, right?). Everything explained in this book is real and is practiced by a wide array of firms such as investment banks, brokerage houses, and institutional investors. Each year, instituions spent billions of dollars doing exactly the kind of transactions explained in the book. A successful risk arbitrageur in a major investment bank makes about $200-300 millions for the firm, which translates to $2-3 millions in his/her own pocket. Readers may discover that, after all, the good old secrets of Wall Street are simple to understand (Yes, if you can add, subtract and divide, you are qualified to work in 90% of the departments in an investment firm). The language is witty and lively. Case examples make this book extremely charming. However, despite its snappy title, this book fails to appeal the professional crowd. As a professinal myself, I certainly expect the book to skip trivial analogies and expand on technical details. Still, this is a great book for beginners, whether you are a personal investor who is just starting, or someone who wants to get your feet wet on Wall Street. Welcome to the world of greed, capitalism, and lucrative profits!
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1 of 1 people found the following review helpful
By Donald Mitchell #1 HALL OF FAME TOP 50 REVIEWER
Format:Paperback
This book is for those who cannot resist the idea of wanting to outperform the market averages. For most people, that's dumb idea . . . and indexed mutual funds would be a better choice.

But if you are willing to roll up your sleeves, put on your green eyeshade and look at things differently, Mr. Greenblatt's approach is a very valid one.

If you read only one of Mr. Greenblatt's books about investing (the other one is The Little Book That Beats the Market), read this one. You'll make more money with this one.

You can be a Stock Market Genius has the simplest explanation for special situations investing involving unusual securities that I have seen for the lay person.

For most people, this book will be a lot to chew on. I suggest that you start by simply trying to understand and apply one idea in the book . . . such as finding under priced small spin-off stocks. After you get the handle on that one, go on to another approach that interests you.

I have worked for over three decades helping companies design these new securities that fascinate Mr. Greenblatt so much. From that experience, I'm constantly amazed at how stupidly most corporate finance departments and investment banks pursue these new structures. I suspect that the answer is that the heavy brainpower is saved for more profitable work like M&A.

As a result, you will almost always find a great investment opportunity if you look at unusual securities. I encourage you to begin by spending a half hour getting the background on any unusual transaction you read about.

You can also improve on this book by doing more precise measurements of securities values (if you have the background to do that), but for many severely undervalued securities Mr.
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1 of 1 people found the following review helpful
Format:Paperback
Okay, so the title of the book leaves something to be desired, but that is the ONLY part of this book that falls short. Joel Greenblatt has written an excellent book on profiting from special situations. That's fortunate for the rest of us, since so far as I can tell, this is the ONLY book that provides an overview of event-driven investing. Note that I said "overview"--it's by no means definitive, nor does it claim to be. Certainly more rigorous treatments of risk arbitrage exist. However, this is the only book I'm aware of that is dedicated to explaining merger securities, spinoffs, recapitalizations, bankruptcy and yes, risk arbitrage.
The book's format is well thought out: each chapter explains the how and why of investing in one particular corporate event, and then utilizes case studies to ram the point home. The case studies are interesting, reading at times like a novel. The tone is lighthearted and endearing throughout, and the frequent jokes, although usually kitschy, hit the mark nonetheless. (One gem: "There are three types of people in the world--those who can count, and those who can't.")
This book is not for everyone, however. Beginners should first read Peter Lynch, Ben Graham, and Phillip Fisher before tackling this one. Greenblatt assumes a reasonable degree of comfort with financial statements and value investing strategies on the part of the reader. The use of LEAPS and options in special situations is covered, but should be avoided by all save for the most advanced investors (as per the author's advice). Also, professionals working in the field of event-driven investments would probably find little they did not already know. That being said, the book reads quickly, so a pro would be little disadvantaged for reading it.
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Most recent customer reviews
5.0 out of 5 stars Excellent But Simple Information
Joel has produced an excellent, simple and effective illustration on how to become a genius in the stock market. Read more
Published 3 months ago by Victor Graham
5.0 out of 5 stars Outperformance
This is the best book published on value / special situation investing. Greenblatt's investing rules should be committed to memory by every serious investor. Read more
Published on July 8 2006 by Gord
5.0 out of 5 stars ONE OF THE BETTER BOOKS ON INVESTING
I read stock market investment books like some cooks read cookbooks-- for a new idea that can change the recipe and make the outcome a better success. Read more
Published on Feb. 23 2004
5.0 out of 5 stars strong buy
This book definitely gets a Strong Buy recommendation from me. It is by far the best investing guide I have seen. It is very imformative, and fun to read as well.
Published on Nov. 7 2002
5.0 out of 5 stars Best Stock Picking Book I've Read
I was in Joel Greenblatt's class at Columbia and he assigned this book. It is by far the most useful equity investing book I've ever read. Read more
Published on Jan. 26 2002
5.0 out of 5 stars Terrific Read Despite the Schleppy Title
This is an amazingly generous roadmap to lesser-known corners of the securities market. When I first picked it up about 2 years ago, I was terribly disappointed because all the... Read more
Published on May 5 2000 by S. Schneider
5.0 out of 5 stars A great book for starters
I really liked this one. In addition to his straight-forward advice and interesting examples, he provides general stock research advice like where on the Internet one can find SEC... Read more
Published on March 26 2000 by Naveen Vennam
5.0 out of 5 stars The best book I've found for making real money in stocks!
Joel Greenblatt really introduces new concepts and ideas into the investing world. You won't find the same old information thrown around again, and you won't find a new number... Read more
Published on March 28 1999
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