The Big Secret for the Small Investor: The Shortest Route to Long-Term Investment Success
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The Big Secret for the Small Investor: The Shortest Route to Long-Term Investment Success

3.34 of 5 stars 3.34  ·  rating details  ·  140 ratings  ·  23 reviews

In The Big Secret for the Small Investor, bestselling author Joel Greenblatt explains to everyday investors how to value a business, and why the small investor has an inherent edge over the big investment firms that have to show results month by month, quarter by quarter, year by year. Greenblatt then goes on to point out four to five options for small investors on how to...more
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Published April 5th 2011 by Simon & Schuster Audio
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Viraj
Apr 26, 2011 Viraj rated it 4 of 5 stars
Recommends it for: EVERYONE
Shelves: finance-etc
Overall: Similar to his other book "The little book that beats the market", the author spends first 50% of the book going through the basics (too repetitively though); however, for this book, the basics are too basic and can be boring. In general, the book's summary is that one could invest in the ETFs tracking indexes with market-cap-weighting, instead the equal-weighting indexes fare better. Fundamental-weighted indexes (WisdomTree and RAFI) are better. Author claims that his "value-weighted"...more
Peter Voutov
I enjoyed this book quite a bit. However, I did find one issue with the author, not the book. After bashing mutual funds and managed investments throughout the book he goes on to recommend mutual funds (albeit low costs ones) and to create his own set of mutual funds that implement the strategy he recommends in the final chapter (and more thoroughly described in his other book, The Little Book that Still beats the Market). If his mutual funds become very successful (which they likely will given...more
Rob
This book is very, very similar to The Little Book that (Still) Beats the Market. It talks about the same ideas and proposes the same fundamental index strategy for long term stock investing. It's a great book and goes into more detail than the other book, but because of that it's a little less approachable for those without much of a background in finance.

I gave this 4/5 stars because The Little Book that (Still) Beats the Market is absolutely the one that I would recommend to someone first. Th...more
Jacob
This is a very readable book and it has some value, but I am giving it three stars based solely on there not being enough content to be worth printing a whole book. The book is short anyway at ~150 pages, and there's only one basic concept here that's different from Greenblatt's two previous books, You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits and The Little Book That Still Beats the Market. That concept doesn't start until over halfway through.

The co...more
Bryce
The Big Secret is somewhat a sequel to Stock Market Genius, in which Greenblatt attempts to make the material more accessible and compelling for the small-time investor. I think he does a good job.

The book picks covers familiar ground of the mediocrity one is assured to encounter in the professional money management business, and how the small investor can do better. Greenblatt argues that capitalization-weighted indexes incorporate excessive optimism in the high share prices awarded to the comp...more
Scott Brooks
Either I read Greenblatt's books out of order or this entire book missed the main point of why I read it... to learn how to value companies.

The book adeptly described the difficulty of being accurate in valuations of a business and offered some ways of thinking about valuing a business relative to many factors that I personally would not have thought of. The book went into very interesting detail about why the small investor has a big leg up on hamstrung Wall St. mutual fund managers just seeki...more
Campryenwater
Apr 23, 2011 Campryenwater rated it 4 of 5 stars
Recommends it for: Those Lost In The World Of Index Funds
Recommended to Campryenwater by: Joel Greenblatt
Once again Joel Greenblatt has an amazing way to break down an entire semester of introductory finance into a gripping page turning adventure! I recieved this book on Friday and fortunately found enough free moments to finish it by Sunday.

This "finance novel" reviews the ever so popular index fund and a method to improve upon the use of it for a portfolio. It captures the thought process that the Fund Managers experience and why they may not often continue to succeed or ever succeed in above av...more
Scott Carpinteri
Really surprised how good this book was. The title sounds cheek, but seems to be the M.O. For Joel Greenblatt.

I gave this one a try because Dan Loeb (Third Point hedge fund) called Joel's first book, "You Can Be A Stock Market Genius" the best investment book he read.

This book starts off fairly basic, explaining that a company value is simply the PV of future income and the complexities involved in these estimates.

The bulk of the book involves selecting investment manager (mutual funds) and the...more
Alicia Lampe hagen
For an author to start a book off admitting his first two books fell flat in theory, well, it sure didn't instill a lot of confidence in the legitimacy of his new theories within this book. I read with reservation, feeling like I was potentially wasting my time.
Fernando
only for amateur investors is too basic
Dan
A good read that touches on things I've read about in other books about indexing. Greenblatt does do a good job of breaking things down into real world examples and offering some new perspectives on long term strategies.

Some people complained that he goes over basic information too much, but I always appreciate another explanation for some of these complex ideas.
Marc
Nice update to the Little Book. Maybe is a bit repetitive at times, but gives one a good understanding of the benefits of altering the standard index fund investing to increase returns and gives some good suggestions
Eric
I read this book on a request from a client. I found it overly simplistic and it did not pass along any trade able investment advice. The only redeeming quality was that it was an easy read.
Jeanne
Easy to read with some fresh perspectives. Not very in depth, but perfect for an overview of investing.
Brian
Valuable information and insight for the person who does his own investing. The appendix summarizes everything else in the book.
Andrew
Good overview, but really this book is about creating another source of income using Mr. Greenblatt's current cache.
Vonetta
Decent overview of the basics, but great review of active versus passive management and the results of each.
Andronicus Kok
Finished reading this book on Investing for the small investors. A good insight for investing. :)
Simon
More of a marketing pamphlet but useful in its simplicity.
Stuart
Interesting look at what sort of index stocks to get into
Daniel
Nice introduction to investments
Evan
Short book
Tata Lapus
Tata Lapus marked it as to-read
Sep 18, 2014
Jerry Williams
Jerry Williams is currently reading it
Sep 06, 2014
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Joel Greenblatt is an American hedge fund manager and founder of Gotham Capital. He is also an academic and a writer. He is also an adjunct professor at the Columbia University Graduate School of Business. He is the former chairman of the board of Alliant Techsystems and founder of the New York Securities Auction Corporation.
More about Joel Greenblatt...
You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits The Little Book That Beats the Market Fooling Some of the People All of the Time: A Long Short (and Now Complete) Story The Little Book That Still Beats the Market The Big Secret for the Small Investor: A New Route to Long-Term Investment Success

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