No passive … the Wall Street Journal or other publications, but a quick Google search reveals other sources. February 25th 1999 Summary of the Book. Greenblatt is a very famous investor that teaches Benjamin Graham's … .hide-if-no-js { This investing blog covers book summaries of investing books, free stock analyses of value investing ideas as well as reflections about the financial markets. Book Review: You Can Be A Stock Market Genius by Joel Greenblatt. He takes the reader off main street, and discusses all kinds of so-called ‘special situations’ and how you might be able to find, analyze and profit from them, i.e. if the management of the parent or ‘insider shareholders’ load-up on the stock or are greatly incentivized to make the new entity a success through i.e. Digging For Value – An aspiring value investor's investing blog about the value investing philosophy. I really enjoyed this book. This book opens your eyes to the … One last thing before we delve into spinoffs. October 30, 2014. Before Joel throws you into the deep end of the special situations pool, he puts some swimmies on you in the shape of fundamental lessons.  =  Greenblatt is a genius and funny to boot. The Intelligent Investor by Benjamin Graham. the stock is cheap due to an initial selloff, the spun-off entity is a great business, or a massively debt-burden entity could make it a leveraged risk/reward situation (leverage can multiply your returns, but not your loss). Same goes for advanced investors wishing to find several motivated seller situations. However, if you are willing to experiment and take some risks with active strategies, the methods in this book are a great place to start. by spinning off the division with a great load of the parent’s debt; 4) To benefit tax-wise; 5) To solve a strategic, antitrust or regulatory issue. However, do not take his words as a biblical practice. A great tool and service for any investor to have in their repertoire. All areas are not ones I have paid close attention to but now feel prepared to investigate for future opportunities. Joel followed Einstein's advice 'Everything should be made as simple as possible, but no simpler'. In this episode, Preston and Stig read Columbia professor, Joel Greenblatt's best-selling book, You Can Be A Stock Market Genius. Once you've read the classic value investing texts it's great to discover something like this that helps investors discovers new hunting ground. In You Can Be a Stock Market Genius, Joel Greenblatt provides an incisive look into the stock market … You Can Be a Stock Market Genius is a practical investment reference which will help the readers make profitable investments in the stock market. He is also an adjunct professor at the Columbia University Graduate School of Business. Be the first to ask a question about You Can Be a Stock Market Genius. This book really opened up my eyes to some new areas opportunities that I should be looking at. In investing, you can. Joel Greenblatt runs a successful hedge fund and knows his stuff. You Can Be A Stock Market Genius – Investing in Unknown Areas You’ve heard it many times. You Can Be a Stock Market Genius is a homework-intensive strategy that Joel employed when he was running his hedge fund from 1985-1995 and achieved 50% annual returns. But better late than never. It steers clear off the standard analysis of public equities, and introduced me to areas of the securities market … Agree with Tim Ferriss - this is a stupid book title but the book itself is very good. Joel recommends scouting i.e. Some of the techniques listed in You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits may require a sound knowledge of Hypnosis, users are advised … Have you read "The Big Short"? This book is a bible for dealing with special situations. The author, Joel Greenblatt, ran hedge fund Gotham Capital racking up a 50% average annual return … 1CYou Can Be A Stock Market Genius 1D reveals how he did it and suggests that a motivated individual could do it too, even if he wasn 19t all that smart. He takes the reader off main street, and discusses all kinds of so-called ‘special … 2 0. Almost as though Joel was trying to teach primary school kids on how to earn some extra cash through stocks. In other words, look down, not up, when making your initial investment decision. In fact, buying a pool of spun-off companies has historically returned 20% annually. Shareholders often unload the shares because they don't understand the smaller business or, for mutual funds, are forced sell due to the limits of their prospectus (limited region, market cap, etc.). I love Joel's writings. Originally published in 1997, “You Can Be A Stock Market Genius” remains popular today and is enthusiastically endorsed in a number of reviews on the internet. 0 0, June 4, 2017 Academics and most investment managers don’t understand the illusive concept of risk. Even though I wish there were more details on the research process, I fully understand the author's intention to merely spark interest. Today I will put up my notes on another book by Joel Greenblatt (Trades, Portfolio). As so often proclaimed here on the blog, risk is the probability of a permanent loss of capital. Investor and author Joel Greenblatt sure comes up with some quirky ways to address investing. Joel shares that reasoning, as he states: “It makes sense that if you limit your investments to those situations where you are knowledgable and confident, and only those situations, your success rate will be very high.” (p. 34) Hence, pick a spot where you are “knowledgable and confident”. Instead the book became an instant classic among hedge fund managers. What's more, he explains to the reader why these situations create so much opportunity. The ideas are simple to understand. In other words, "special situations". After purchasing six to eight stocks in different industries, the benefit of adding even more stocks to your portfolio in an effort to decrease … If you don’t lose money, most of the remaining alternatives are good ones.”, Newport International Group Fraud Watch US Stock Futures Punkt auf höhere öffnen nachdem starke China-Datenexport, The 52 Most Popular Romances of the Past Three Years. by Touchstone, You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits. }. He is the former chairman of the board of Alliant Techsystems and founder of the New York Securities Auction Corporation. I have a fairly extensive listing of books on my site, with my review… … For intermediate investors. Once you've read the classic value investing texts it's great to discover something like this that helps investors discovers new hunting ground. This is the best book I've been able to find on event-driven investing. You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits - Joel Greenblatt. Warren Buffett likens to say: “There are no called strikes on Wall Street”, meaning you can choose which pitches to swing at. … I have not seen anything that comes even close to making so much sense and offering this amount of opportunity for vicarious learning in the area. Goodreads helps you keep track of books you want to read. We’d love your help. Value investors should always be on the lookout for unchartered territory and this book opens up your eyes to some. 18 In his 2006 book, The Little Book That Beats the Market, he touted a magic formula based … They're simple, well explained, funny, relevant, and very well thought out. Hope it helps! I got the reference for this book from it, yet never got a chance to sit down and actually read it. Book: You Can Be a Stock Market Genius. The book was written more than a decade back so you will still need to do your own homework if you really want to outperform the market. Let us know what’s wrong with this preview of, Published The Mission Marketing Group (TMMG): High growth, low P/E. Very different from almost all other value investing books as it focuses on finding special situations to invest in. A excellent exploration of some unique investment opportunities, and some ways to help you determine how far off the market’s pricing of a stock is. Learn to make a fortune and read this book. His two subsequent books 1CThe Little Book That Beats the Market 1D and 1CThe Big Secret for the Small Investor 1D suggest stock screening methods that outperform the market without much effort from the individual. The conclusion? Greenblatt introduces readers to the world of investing in special situations. Be prepared to be charmed, wooed, and—of course—seduced by these most popular romance novels of the past three... 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. Not for the average investor. In length, that’s why Joel advises the reader to look down, not up. In other words: Let your assessment of the downside guide your investing decision, and let the upside take care of itself. You Can Be A Stock Market Genius (even If You're Not Too Smart) : Uncover the Secret Hiding Places of Stock Market Profits (eBook) : Greenblatt, Joel : Baker & TaylorA former Chairman of a Fortune 500 company shares his investment expertise in this guide for beginners and experts alike, identifying where to look for good, profitable stock … Joel Greenblatt is an American hedge fund manager and founder of Gotham Capital. My main concern about the book was that it was published to long ago, before the crisis, before the modern stock exchange rules and terminologies. 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. 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. Just a moment while we sign you in to your Goodreads account. To see what your friends thought of this book. Review by Steven Rosales of Joel Greenblatt's You Can Be a Stock Market Genius.This book is about finding worthwhile investments using lesser known techniques. In life, you can’t always choose your battles or the playing field. He is also an academic and a writer. Obviously, some diversification is needed, but how much? “You have to know something others don’t in order to make a profit”. Titan: The Life of John D. Rockefeller, Sr. Persimmon PLC (PNS): Double-digit growth story at a zero-growth price, The Little Book of Valuation: How to Value a Company, Pick a Stock, and Profit, You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits. a fund is restricted from holding positions in the spun-off entity due to its size, the index it’s listed on, the industry it’s engaged in etc. Recommended by: … Practically a gateway drug(book) to special situation investing. While having many years of investing experience already this book looks at special situations like companies involved in spinoffs, mergers, coming out of bankruptcy, restructuring, LEAPS. You Can Be A Stock Market Genius By Joel Greenblatt Chapter 1 1. But if you read one more, it should be Greenblatt's "You Can Be a Stock Market Genius." you can be a stock market genius book summary in hindi ( by Joel greenblatt) how to make money in stock market You Can Be A Stock Market Genius: Uncover The Secret Hiding Places Of Stock Market Profits is a book that helps people in understanding the ways by which they can make successful investments in the … “The strategy of putting all your eggs in one basket and watching that basket is less risky than you might think.”, “So one way to create an attractive risk/reward situation is to limit downside risk severely by investing in situations that have a large margin of safety. If you read one book on investment, it should be Bogles "The Little Book of Common Sense Investing." Re: books To get started, I’d suggest the following four books: The Intelligent Investor by Graham Common Stocks and Uncommon Profitsby Fisher Why Stocks Go Up and Downby Pike Buffettologyby Buffett and Clark If you read these books thoroughly and in that order and never touch another book, you’ll have all you need to know. Bevis, at du ikke er en robot * Opportunities to profit from spinoffs arise often. a stock option programmes; 3) A previously hidden investment opportunity is uncovered, i.e. Like the book proclaims; it provides insightful advice where other investment book would otherwise shy away from. It’s puzzling that some people still think a stock’s volatility – beta – is a measure of risk. The upside, while still difficult to quantify, will usually take care of itself. Greenblatt addresses mergers, spinoffs, recapitalizations, etc. Still, I decided to give it a try. Very well written: concise, full of wisdom and explaining/summarising motivated seller situations and why. This book really opened up my eyes to some new areas opportunities that I should be looking at. For example, spinoffs can divest a company's interest in a relatively small business or a business that is unrelated to their main business. The book has the lamest title, and the first impression isnt good when the author starts the introduction with regurping Ben Graham's Intelligent investor. When you get there, remember to look for the three signs outlined above! Not too hard to read either (well except a few chapters)!! Even though the author is broad within his niche - special situations - the area in itself is specialized and also highly labor intensive making the venture doomed to failure. A comprehensive and practical guide to the stock market from a successful fund manager—filled with case studies, important background … 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… You Can Be a Stock Market Genius – Special Situation Investing. I wouldn't recommend that anyone else read this book (lest they steal the fun, new investing strategies that I stole). 1 0, June 25, 2017  ×  Greenblatt addresses mergers, spinoffs, recapitalizations, etc. Witty writing style with real life (albeit old) cases make it so much more enjoyable. Very easy to read, great sense of humor. What's more, he explains to the reader why these situations create so much opportunity. You can be a stock market genius by Joel Greenblatt, February 25, 1999, Fireside edition, Paperback in English - 1st Fireside Ed edition This is a readable, entertaining guide to investing in spinoffs, turnarounds and special situations. Joel underscores the importance of a set of basic ‘rules’ when delving into the universe of special situations:Â. Your email address will not be published. He describes opportunities mostly in special opportunities including: So glad that I am a stock market genius now. Another book you might want to consider is Value Investing Made Easyby Janet Lowe – a quick read. To round-up this book summary, it’s important to note that the announcements and filings related to special situations are pro-forma and often serve some purpose, i.e. If there is ever a book that should not be judged by its cover, You Can Be a Stock Market Genius is the one. Once you find an interesting pick, you need to stay in touch with the “parent’s” (it’s still one company) announcements and its SEC Form 10 filing (the document outlining the new spinoff company). Some Basics … The resources page is definitely worth bookmarking. If you had enough money and wanted to quit your day job and do lots of reading and research this would be a great strategy. Joel Greenblatt explains in a very simple manner the complexities of investing in stock market. In You Can Be a Stock Market Genius, Joel outlines the “secret hiding places” of investing ideas. Joel has a wonderful way of putting it: “Figures don’t lie, but liars can figure” (p. 255), September 10, 2017 Highly recommend for those new in investments. An awesome book for people trying to make their mark on the stock market. Joel looks for three signs: 1) Institutions don’t want it based on reasons that don’t involve the investment merits, i.e. bankruptcies, restructurings and spinoffs. Author: Joel Greenblatt. As mentioned, I’ll only go into detail with one type of special situations: spinoffs. A spinoff is simply the process of ‘spinning off’ a subsidiary or division from the parent company into a new, independent company. An excellent book overall. The book outlines an array of so-called “special situations” that may offer very profitable opportunities for the investor who is willing to go off the mainroad of investing by double-clicking on i.e. The latter, spinoffs, resonates most with yours truly, so I’ll dedicate this book summary to reviewing the opportunities in this sphere alongside some “basics” – let’s start there! He usually introduces the theories, give several case studies and then provides a summary. Welcome back. Dont get put-off by the cheesy and shady title - YCBaSMG is a superb book that focusses on special situations that arise from time to time in the markets and how a smart (and hard-working) investor can profit tremendously from these situations. 3 The book provides extensive and interesting examples of opportunities that can be exploited in spinoffs, takeovers, mergers, corporate restructurings, right offerings, and, to your disbelief, bankruptcies. Number of recommendations: 9. Key takeaways: Despite a rather lousy title, it is an excellent book. No rocket science here. The author, Joel Greenblatt, ran hedge fund Gotham Capital racking up a 50% average annual return over a 10 year period spanning the mid 80 19s to the mid 90 19s. The book does a really good job of showcasing these situations. If event driven investing turns your gears this is the book for you. Hence, you need to do your own work. You’ll find little to no research from other analysts or the media – and if you do, don’t trust them. Unfortunately dated. :D, An excellent book overall. Though some of these reasons sound sketchy, it can be a very profitable area to delve into. Very different from almost all other value investing books as it focuses on finding special situations to invest in. According to Joel, there are five reasons why a spinoff occurs: 1) To ensure that the business unit is better appreciated by the market (‘lessening’ the conglomerate discount); 2) To separate a ‘bad business’ from the ‘good business’; 3) To offload a debt burden, i.e. Joel had a refreshing, substantiated opinion about an otherwise flighty question: what is the optimal number of positions in your portfolio? The author of The Little Book That Beats the Market, Joel Greenblatt, has written yet another very entertaining book. Value investors should always be on the lookout for unchartered territory and this book opens up your eyes to some potentially neglected corners of the market. Start by marking “You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits” as Want to Read: Error rating book. Gotham Capital founder, Joel Greenblatt — who is better known for his more popular publication The Little Book That Beats the Market — sophistically documents the strategies of special situation stock market … It is not a complete summary of the book. Mr. Greenblatt has since acknowledged in subsequent books that these methods require more work than the average individual investor can muster. 1CYou Can Be A Stock Market Genius 1D reveals how he did it and suggests that a motivated individual could do it too, even if he wasn 19t all that smart. Great sense of humor Greenblatt ( Trades, Portfolio ) personally, it has opened up my eyes the... 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