The Little Book That Still Beats the Market

In 2005, Joel Greenblatt published a book that is already
considered one of the classics of finance literature. In The
Little Book that Beats the Market--a New York Times
bestseller with 300,000 copies in print--Greenblatt
explained how investors can outperform the popular market averages
by simply and systematically applying a formula that seeks out good
businesses when they are available at bargain prices. Now, with a
new Introduction and Afterword for 2010, The Little Book that
Still Beats the Market updates and expands upon the research
findings from the original book. Included are data and analysis
covering the recent financial crisis and model performance through
the end of 2009. In a straightforward and accessible style, the
book explores the basic principles of successful stock market
investing and then reveals the author's time-tested formula
that makes buying above average companies at below average 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. He shows how to use his method to beat both the market and
professional managers by a wide margin. You'll also learn why
success eludes almost all individual and professional investors,
and why the formula will continue to work even after everyone
"knows" it.

While the formula may be simple, understanding why the formula
works is the true key to success for investors. The book will take
readers on a step-by-step journey so that they can learn the
principles of value investing in a way that will provide them with
a long term strategy that they can understand and stick with
through both good and bad periods for the stock market.

As the Wall Street Journal stated about the original
edition, "Mr. Greenblatt...says his goal was to provide
advice that, while sophisticated, could be understood and followed
by his five children, ages 6 to 15. They are in luck. His
'Little Book' is one of the best, clearest guides to
value investing out there."

Auteur
Joel Greenblatt is the founder of Gotham Capital, an invest-ment partnership that achieved 40% annualized returns for the twenty years after its founding in 1985. He is a professor on the adjunct faculty of Columbia Business School, the Chief Strategist for Formula Investing, the former chairman of the board of a Fortune 500 company, and the author of You Can Be a Stock Market Genius and The Little Book That Beats the Market. Greenblatt holds a BS and an MBA from the Wharton School.

Texte du rabat
Praise for THE LITTLE BOOK THAT BEATS THE MARKET "Simply perfect. One of the most important investment books of the last 50 years!"
Michael Price

"A landmark booka stunningly simple and low-risk way to significantly beat the market!"
Michael Steinhardt, the Dean of Wall Street hedge fund managers

"This book is the finest simple distillation of modern value investing principles ever written. It should be mandatory reading for all serious investorsfrom the fourth grade on up."
Professor Bruce Greenwald, Director of the Heilbrunn Center for Graham and Dodd Investing, Columbia Business School

"The book unquestionably makes good on its promises."
SmartMoney

"Greenblatt delivers admirably . . . it contains one of the clearest, most entertaining explanations you'll ever see of the ideas underlying value investing."
International Herald Tribune

Résumé
In 2005, Joel Greenblatt published a book that is already considered one of the classics of finance literature. In The Little Book that Beats the Market*a *New York Times bestseller with 300,000 copies in print*Greenblatt explained how investors can outperform the popular market averages by simply and systematically applying a formula that seeks out good businesses when they are available at bargain prices. Now, with a new Introduction and Afterword for 2010, *The Little Book that Still Beats the Market updates and expands upon the research findings from the original book. Included are data and analysis covering the recent financial crisis and model performance through the end of 2009. In a straightforward and accessible style, the book explores the basic principles of successful stock market investing and then reveals the author's time-tested formula that makes buying above average companies at below average 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. He shows how to use his method to beat both the market and professional managers by a wide margin. You'll also learn why success eludes almost all individual and professional investors, and why the formula will continue to work even after everyone knows it. While the formula may be simple, understanding why the formula works is the true key to success for investors. The book will take readers on a step-by-step journey so that they can learn the principles of value investing in a way that will provide them with a long term strategy that they can understand and stick with through both good and bad periods for the stock market.

As the Wall Street Journal stated about the original edition, Mr. Greenblattsays his goal was to provide advice that, while sophisticated, could be understood and followed by his five children, ages 6 to 15. They are in luck. His 'Little Book' is one of the best, clearest guides to value investing out there.

Contenu

Acknowledgments ix

Foreword by Andrew Tobias xiii

Introduction to the 2010 Edition xvii

Introduction to the Original Edition xxi

Chapter One 1

Chapter Two 9

Chapter Three 17

Chapter Four 27

Chapter Five 39

Chapter Six 51

Chapter Seven 61

Chapter Eight 71

Chapter Nine 81

Chapter Ten 93

Chapter Eleven 105

Chapter Twelve 115

Chapter Thirteen 127

Step-by-Step Instructions 137

Afterword to the 2010 Edition 145

Appendix 165