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You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits Paperback – February 25, 1999
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From Library Journal
Copyright 1997 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
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
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 ›
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 ›
Despite the book's schleppy and seemingly unrealistic title, Greenblatt's descriptions are wonderfully realistic and honest. In particular, although I've looked for other resources on spinoff investment strategies, everything you really need to know is in this book. The author's style is flippant but endearing, and the reader will get more than his/her money's worth from the ideas described in this book.
His advice is commendable, but it is not for the average investor. His approach assumes an astute knowledge of investment and corporate finance rarely found outside the institutional investment community. After all, how many friends do you know have made money using such a sophisticated and labor-intensive approach? I have personally tried a couple of decades ago armed with an MBA and years in corporate credit analysis and failed.
Another obstacle is that since the book was written investors have pored billions in hedge funds who chase the same types of market inefficiencies. Therefore, the market for all these special situations (risk arbitrage, restructuring, liquidations, etc...) has become more efficient.
If you are just a regular investor, sound investing boils down to evaluating one's risk tolerance, diversifying your assets accordingly, and investing them efficiently. If you want to know more about this I strongly recommend Burton Malkiels' "The Random Walk Guide to Investing."
Most Recent Customer Reviews
Excellent book. Mr. Greenblatt masterfully explains his frameworks for spotting and assessing investing opportunities, both at the micro and macro level. Read morePublished 18 days ago by Amazon Customer
Overall a good book. Good "alternative" ways of identifying values. It's worth the used price. Read morePublished 1 month ago by Martin
The book in two words: institutional biases
The book in a sentence: a forced seller is the best companion for an enterprising investor
If you consider yourself a serious,... Read more