The Little Book That Still Beats the Market
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The Little Book That Still Beats the Market Audible Audiobook – Unabridged

Joel Greenblatt (Author), Adam Grupper (Narrator), Simon & Schuster Audio (Publisher)
4.5 4.5 out of 5 stars 4,632 ratings
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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 best seller 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 sixth-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. Greenblatt will take listeners 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.

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  1. Listening Length
    3 hours and 51 minutes
  2. Author
    Joel Greenblatt
  3. Narrator
    Adam Grupper
  4. Audible release date
    September 14, 2010
  5. Language
    English
  6. Publisher
    Simon & Schuster Audio
  7. ASIN
    B00435KR9C
  8. Version
    Unabridged
  9. Program Type
    Audiobook
  10. See all details
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Product details

Listening Length 3 hours and 51 minutes
Author Joel Greenblatt
Narrator Adam Grupper
Whispersync for Voice Ready
Audible.com Release Date September 14, 2010
Publisher Simon & Schuster Audio
Program Type Audiobook
Version Unabridged
Language English
ASIN B00435KR9C
Best Sellers Rank #7,782 in Audible Books & Originals (See Top 100 in Audible Books & Originals)
#48 in Investing & Trading
#76 in Introduction to Investing
#93 in Personal Finance (Audible Books & Originals)

Customer reviews

4.5 out of 5 stars
4.5 out of 5
4,632 global ratings
Great Book
5 Stars
Great Book
Great value investing advice! Beware that you may find binding issues! The last three pages were folded into the binding. Will have to cut them out.
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Top reviews from the United States

Yonas
5.0 out of 5 stars Book is small but the content is very large and useful. Loved the book.
Reviewed in the United States on March 7, 2024
Verified Purchase
It is a small book and i asked myself before i read it if i can get anything out of it. By the end of my reading, I understood a lot of concepts and i am thankful that i read this book. Don't let the size or the title of the book fool you, this is an amazing book. Highly recommend it.
One person found this helpful
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Alan V.
5.0 out of 5 stars Attention Savers and Seniors
Reviewed in the United States on October 16, 2012
Verified Purchase
This book contains a tested systematic approach to stock market investing that most people can implement on their own.

As I write this review, there are already 266 reviews of Joel Greenblatt's "The Little Book..." on Amazon. Why bother? One reason is that since first published in 2005, Greenblatt's investment accomplishments have become even more widely appreciated, giving added credibility to his advice. For example, he is featured as one of the "Hedge Fund Market Wizards" in Jack Schwager's recently published book of the same name  Hedge Fund Market Wizards  (please see my review of that book). Additionally, at present returns on traditional savings accounts are very close to zero and the US Treasury Note yields a mere 1.7 percent. Any of us who envisioned living in retirement from the interest on our savings were sadly mistaken. Greenblatt's investment system as presented in this book may be one of very few, or the only, approach that is likely to generate low-risk investment results that might really help savers and seniors meet their previous expectations.

The writing style is clear and simple. The author explains investment terms like return on capital and earnings yield in a conversational tone without condescention. He uses a couple of example fantasy businesses in an entertaining manner to illustrate the concepts. As the book progresses, he uses these basic examples as the foundation for more advanced concepts (not complex, but necessary). Necessary for what? For the reader to believe in the investment system that Greenblatt presents in the book to a degree that the reader will stick to the system without variance for a period of years in order to enjoy the benefits that accrue to long-term investors (think Buffett, Rogers, Graham, Bogle, Templeton).

I urge you to read the book review by "Value Investor" on these pages. He lays out the reasons why this system is very likely to perform well over a period of years. In a nutshell, it is likely to work because the author has done extensive testing of the system, uses it as the basis for his own hedge fund's portfolio management, and because it takes considerable patience and fortitude to follow (traits not found in excess on Wall Street).

One aspect that I really appreciate is the author's willingness to concede that many investors want a higher degree of involvement in selecting the stocks for their portfolios. They may be uncomfortable following a more mechanical system. He addresses this issue by giving clear guidance on how one may still follow the system even with the addition of an element of personal discretion, depending on the investor's level of expertise, time commitment and available capital.

Finally, the author maintains a free website (now for 7+ years) to aid investors with portfolio selection. This is a high value service in my opinion.

I highly recommend this book to any saver or investor, or speculator or trader for that matter, who wishes to increase their returns on investment and improve their overall portfolio performance. Five stars.
66 people found this helpful
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Terry
4.0 out of 5 stars makes sense
Reviewed in the United States on July 4, 2023
Verified Purchase
As an amateur investor I am constantly striving to learn more about strategies. This book was an easy read in common layman terms. It helped me understand what indicators to look for even if I did not use the magic formula. I’m currently actively trading and investing and beating my mutual fund for performance. I very well might try this approach to investing and add it to my bag of tricks.
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Steve Martin M
5.0 out of 5 stars Nice little book
Reviewed in the United States on March 12, 2024
Verified Purchase
I am very new to trading. I got this book from ChatGPT recommendation.
It is not perfect one but I got some basic knowledge how to invest wisely by checking the fundamental data of the stocks.
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Anthony Lam
5.0 out of 5 stars A very instructive guide for investing, with all the steps you need to beat the market
Reviewed in the United States on January 29, 2022
Verified Purchase
This book is really instructive, if you are a investor who have problems with how to choose stocks , then I will 100% recommend it to you! With the magic formula which the book mentions, you will able to choose the correct stocks and more, you don't have to focus on the stock market every day with fear--you just have to buy the magic formula stocks, then wait for the money to start rolling into your budget!
This book is also a good beginner"s guide. It covers some basics, like putting the money in the bank, and bonds, and finally explaining that investing is the best solution to your money! And more, this book is written with humor, so anybody, even children will enjoy it very much. If you are a parent who wants your child to learn investing, then you should buy this book as a present for your child.
One thing I want to say is this book is quite outdated (although just 12 years or so), like the author said that the US government bond is 6 percent, but it is much lower nowadays. But considering all things, I would say that this is definitely a good investing book, and therefore you should buy it immediately!
Customer image
Anthony Lam
5.0 out of 5 stars A very instructive guide for investing, with all the steps you need to beat the market
Reviewed in the United States on January 29, 2022
This book is really instructive, if you are a investor who have problems with how to choose stocks , then I will 100% recommend it to you! With the magic formula which the book mentions, you will able to choose the correct stocks and more, you don't have to focus on the stock market every day with fear--you just have to buy the magic formula stocks, then wait for the money to start rolling into your budget!
This book is also a good beginner"s guide. It covers some basics, like putting the money in the bank, and bonds, and finally explaining that investing is the best solution to your money! And more, this book is written with humor, so anybody, even children will enjoy it very much. If you are a parent who wants your child to learn investing, then you should buy this book as a present for your child.
One thing I want to say is this book is quite outdated (although just 12 years or so), like the author said that the US government bond is 6 percent, but it is much lower nowadays. But considering all things, I would say that this is definitely a good investing book, and therefore you should buy it immediately!
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3 people found this helpful
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Bruce W. Graham
3.0 out of 5 stars Clear explanation of value investing. Results are only so-so.
Reviewed in the United States on June 28, 2017
Verified Purchase
This is an excellent book to share with younger investors, or for newbies that want to understand how stock shares are priced. The examples are excellent, albeit simplistic...but that's exactly the point. For those of you who have more experience, you'll see that this book represents the classic "value" investment strategy as opposed to "growth".

The nice part about the book is that, having followed the explanation and wanting to try it out, one quickly realizes that the ranking process takes a LOT of work. The good news is the author runs a website, accessible to bona fide purchasers of his book at no cost, that provides the rankings. It couldn't be easier.

The bad news is that the results are only so-so. I'm sure the author has GIPS data to back up his claims of beating the market, and perhaps he cherry picks the data to support his thesis, but the American Association of Individual Investors, which runs 75 stock screens which are updated monthly using real market data, find his Magic Formula stock screen to have yielded a mere 0.7% return over ten years. Several other "value" screens have yielded well above 10% over the same time frame.

So, enjoy the book but consider other, more reliable, stock screens if you're a value investor. (And, if you want better returns, stick to growth investing.)
9 people found this helpful
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Top reviews from other countries

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Joseph Solomons
5.0 out of 5 stars great update
Reviewed in Canada on March 3, 2023
Verified Purchase
This book will continue to help investors that need a strategy to follow that’s easy to implement…. With all the discount brokerages now available the stock market is the best place to invest. This book is for beginners that want to learn more…
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Rafael Cuéllar
5.0 out of 5 stars Friendly and useful to read
Reviewed in Mexico on May 14, 2022
Verified Purchase
Easy, entertaining and friendly book to read. I think it's a good choice for wether you're just getting started at investment in stocks or you're just looking to improve your current investment strategy, as I will certainly will do.
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Abhishek Damle
5.0 out of 5 stars Fantastic.
Reviewed in India on January 4, 2024
Verified Purchase
Respect to the author for explaining these financial terms in very humorous and effective way!
Also the magic formula is pretty logical \m/
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Robert R.
5.0 out of 5 stars Great book
Reviewed in Germany on December 3, 2023
Verified Purchase
Great advice from an investor who consistently outperformed the market.
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ALVARO
5.0 out of 5 stars Testo datato ma ancora valido per la valutazione degli asset per la costruzione di un portafoglio
Reviewed in Italy on November 9, 2021
Verified Purchase
Ottimo per la correttezza dei principi esposti e di facile lettura per il modo adottato dall'autore per spiegare in modo semplice concetti complessi.
One person found this helpful
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