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

3.47  ·  Rating Details  ·  257 Ratings  ·  33 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
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Published April 5th 2011 by Simon & Schuster Audio (first published January 1st 2011)
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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
Apr 26, 2011 Viraj rated it really liked it
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
May 22, 2011 Peter Voutov rated it it was amazing
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
Jan 11, 2014 Rob rated it really liked it
Shelves: personal-finance
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
Robert Vlach
Jan 31, 2015 Robert Vlach rated it liked it
Zařek jsem se, že letos tady na ostrovech po roce zase překopu své Gran Canaria investiční portfolio; mám je pojmenované ponomádsku podle místa založení :-) Mj. se tu pročítám související literaturou a lepší kousky házím na blog — vzhledem ke slabé osvětě v tom vidím jistý smysl, protože jednodušší strategie nevyžadují nic víc než brokerský účet a investici v řádu nižších desetitisíců, přičemž průměrný roční výnos může být 10 % i více. Z knih pro začátečníky stále doporučuji Gladišovu klasiku Na ...more
Fred Forbes
Jul 11, 2015 Fred Forbes rated it liked it
Not as powerful as "The Little Book That Still Beats the Market" in that much of the content is a rehash of the value proposition explained in the that book. This one is even littler . Contains information on ETFs, (exchange traded funds) missing from the first book and an interesting discussion of "value weighted" vs. "equal weighted" vs "capitalization weighted" differences that should be of interest to investors in index funds. Still, the topic is only a portion of the financial planning and ...more
Apr 26, 2015 Gaspar rated it it was ok
Too repetitive. Too much beating around the bushes, so much that it seems that the author just wrote enough words to make what could've been a long decent article into a wasting-time chapters.

Don't get me wrong, I admire and follow Greenblatt's work but this book could have been way shorter without missing the essential message, which is buy Value Weighted Index ETFs because they are better than market cap indexes and saves us from a lot of trouble.

I don't understand why people want to stretch s
Jul 04, 2011 Bryce rated it it was amazing
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
Scott Brooks
Nov 11, 2013 Scott Brooks rated it it was ok
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
Jonathan Perez
Dec 28, 2014 Jonathan Perez rated it really liked it
Joel Greenblatt is a famous value investor so in my quest to learn more about the topic I thought it would be good for me to read some of his writings. This felt to me like a good quick easy read but probably for someone who has not read and not heard about Benjamin Graham and wants to learn from scratch about value investing. Probably there are more insights to learn from his other books such as the little book that beats the market which is also on my to read list.
Apr 23, 2011 Campryenwater rated it really liked it
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
Jun 09, 2015 Mark rated it it was ok  ·  review of another edition
I really couldn't find anything of value to take away from this book. I got to the end and didn't actually know what the book was about. Probably worth a re-read but that shouldn't happen surely! His other title, the Little Book that Beats the Market is a much better investment of your time.
Oct 12, 2015 Rene rated it it was ok  ·  review of another edition
Shelves: investing
Veel herhaling en het duurt erg lang voordat Greenblatt bij zijn hoofdargument komt (het boekje had evengoed een essay van 30 blz kunnen zijn). Verder redelijk leerzaam voor de beginnende belegger, maar 'The little book that still beats the market' is leerzamer.
Scott Carpinteri
Nov 01, 2012 Scott Carpinteri rated it really liked it  ·  review of another edition
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
Alex Nguyen
Oct 25, 2015 Alex Nguyen rated it it was amazing
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Jul 16, 2015 John rated it it was amazing
Five stars, but only if his ideas turn out to be correct. Only two stars if he has misguided me. ;)
Alicia Lampe hagen
Jan 20, 2014 Alicia Lampe hagen rated it liked it
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.
Charles Chu
Nov 14, 2015 Charles Chu rated it really liked it
A good read for the reflective, small-scale trader or investor. It is not always bad to be small.
Kirtan Patel
Nov 14, 2015 Kirtan Patel rated it liked it
Could have just been a series of blog articles to provide the information :S
Jul 16, 2014 Fernando rated it it was ok
Shelves: in-calibre
only for amateur investors is too basic
Mar 17, 2012 Dan rated it liked it
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.
Jul 25, 2011 Marc rated it liked it
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
Feb 06, 2012 Eric rated it did not like it  ·  review of another edition
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.
Jun 08, 2014 Jeanne rated it liked it
Easy to read with some fresh perspectives. Not very in depth, but perfect for an overview of investing.
Jun 21, 2011 Brian rated it liked it
Valuable information and insight for the person who does his own investing. The appendix summarizes everything else in the book.
Aug 24, 2012 Andrew rated it liked it  ·  review of another edition
Good overview, but really this book is about creating another source of income using Mr. Greenblatt's current cache.
Decent overview of the basics, but great review of active versus passive management and the results of each.
Andronicus Kok
Aug 12, 2012 Andronicus Kok rated it it was amazing  ·  review of another edition
Finished reading this book on Investing for the small investors. A good insight for investing. :)
Aug 15, 2011 Simon rated it liked it
More of a marketing pamphlet but useful in its simplicity.
Nov 16, 2013 Stuart rated it really liked it
Interesting look at what sort of index stocks to get into
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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...

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