The Little Book That Beats the Market by Joel Greenblatt

By Joel Greenblatt

Contributor note: ahead by way of Andrew Tobias

Joel Greenblatt presents a consultant to beating the marketplace for every age. as well as taking off the fundamental ideas of profitable inventory marketplace making an investment, he offers a 'magic formula' that's effortless to take advantage of and makes paying for strong businesses at discount costs computerized.

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Figuring out what a business is worth involves estimating (okay, guessing) how much the business will earn in the future. 3. S. government bond. (Remember: Last chapter we set 6 percent as your absolute minimum annual return when government bond rates fall below 6 percent) and 4. No, I haven’t forgotten about the magic formula. But you’re going to have to stop bugging me about it, okay? Sheesh! Chapter Four GREAT, FIGURING OUT WHAT A BUSINESS is worth isn’t easy. After lots of guessing and estimating, maybe you get it right and maybe you get it wrong.

But wait, we’re far from finished. There was the rent Jason had to pay for the use of his 10 store locations; then there were those pesky employees [20] J O E L G R E E N B LAT T who for some reason expected to get paid for selling gum and keeping the stores clean and running smoothly; there were electricity and heating costs, trash removal, and accounting and all kinds of administrative costs (so Jason could keep track of all the money and gum flying all over the place)—and that stuff adds up.

But instead of teaching him karate, Mr. Miyagi puts Daniel to work—waxing cars, painting fences, and sanding floors. [38] J O E L G R E E N B LAT T So after a whirlwind of scenes showing poor Daniel working his fingers to the bone—waxing, painting, and sanding—the youth has finally had enough. He confronts Mr. ” Mr. Miyagi has Daniel stand up from his sanding duties and starts throwing jabs at the young boy while yelling “Wax on! ” Daniel deflects each jab with the swirling motions he learned from so many hours waxing cars.

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