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You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits Paperback – Feb 25 1999
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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.
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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Top Customer Reviews
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...
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.
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.Read more ›
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.Read more ›
Most recent customer reviews
This is a good book with some real life investment experiences as well as examples of the author's experiences. Read morePublished 6 months ago by Chisa
Joel has produced an excellent, simple and effective illustration on how to become a genius in the stock market. Read morePublished 20 months ago by Victor Graham
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 morePublished on July 8 2006 by Gord
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 morePublished on Feb. 23 2004
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
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 morePublished on Jan. 26 2002
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 morePublished on May 5 2000 by S. Schneider
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