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The Little Book That Still Beats the Market (Little Books. Big Profits)
 
 

The Little Book That Still Beats the Market (Little Books. Big Profits) [Kindle Edition]

Joel Greenblatt , Andrew Tobias
4.7 von 5 Sternen  Alle Rezensionen anzeigen (6 Kundenrezensionen)

Kindle-Preis: EUR 11,99 Inkl. MwSt. und kostenloser drahtloser Lieferung über Amazon Whispernet

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Gebundene Ausgabe EUR 20,40  
Audio CD, Audiobook, CD, Ungekürzte Ausgabe EUR 16,01  


Produktbeschreibungen

From Publishers Weekly

Contrary to efficient-market naysayers, this engaging investment primer contends that ordinary stock-market investors can indeed get better-than-market returns over the long haul. Greenblatt (You Can Be a Stock Market Genius), a Columbia Business School adjunct professor, touts a "value-oriented" approach that looks for bargain stocks whose share price is cheap relative to the company's profitability. His version is a "magic formula" that ranks stocks on the basis of two variables—the earnings yield and the business's return on capital. His Web site, magicformulainvesting.com, virtually automates the procedure for novices. Greenblatt offers lots of statistical proof of the formula's success, but emphasizes the importance of faith in seeing the investor through inevitable short-term downturns: "It will be your belief in the overwhelming logic of the magic formula that will make the formula work for you in the long run." He conveys his ideas through a lucid if rudimentary and rather corny explanation of basic investment concepts about risk, return, interest and business valuation. Although the fabulous returns he touts seem too good to be true, Greenblatt's formula is a reasonable variant of mainstream value-investing methods. Investors seeking a little more hands-on excitement than the average mutual fund offers won't go too far wrong following his advice. (Jan.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Pressestimmen

"Greenblatt boils investment jargon down to what you need to know as succinctly and humorously as possible". (USA Today, January 16, 2006)
 
"Greenblatt delivers admirably...it contains one of the clearest, most entertaining explanations you'll ever see of the ideas underlying value investing." (International Herald Tribune, 16th January 2006)
 
"a marvellously clear explanation of the value investing approach" (Financial Times (also on FinancialNetnews.com) 10th December 2005)
 
"The book is certainly written simply and the concepts are conveyed compelling" (Daily Telegraph, 29th November 2005)
 
"The Little Book is one of the best, clearest guides to value investing out there." (The Wall Street Journal, November 9, 2005)

"Greenblatt delivers admirably...it contains one of the clearest, most entertaining explanations you'll ever see of the ideas underlying value investing." (International Herald Tribune, 16th January 2006)
 
"a marvellously clear explanation of the value investing approach" (Financial Times (also on FinancialNetnews.com) 10th December 2005)
 
"The book is certainly written simply and the concepts are conveyed compelling" (Daily Telegraph, 29th November 2005)
 
"The Little Book is one of the best, clearest guides to value investing out there." (The Wall Street Journal, November 9, 2005)

Produktinformation

  • Format: Kindle Edition
  • Dateigröße: 438 KB
  • Seitenzahl der Print-Ausgabe: 180 Seiten
  • ISBN-Quelle für Seitenzahl: 0471733067
  • Verlag: Wiley; Auflage: 1 (26. August 2010)
  • Verkauf durch: Amazon Media EU S.à r.l.
  • Sprache: Englisch
  • ASIN: B003VWCQB0
  • Text-to-Speech (Vorlesemodus): Aktiviert
  • X-Ray:
  • Durchschnittliche Kundenbewertung: 4.7 von 5 Sternen  Alle Rezensionen anzeigen (6 Kundenrezensionen)
  • Amazon Bestseller-Rang: #98.336 Bezahlt in Kindle-Shop (Siehe Top 100 Bezahlt in Kindle-Shop)

  •  Ist der Verkauf dieses Produkts für Sie nicht akzeptabel?

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19 von 19 Kunden fanden die folgende Rezension hilfreich
3.0 von 5 Sternen A New Way to Buy Low and Sell Annually 21. Juli 2006
Von Donald Mitchell TOP 500 REZENSENT
Format:Gebundene Ausgabe
Ever since computer databases have become more available and computing time and memory have been cheap, anyone can take investment history and devise a "back-tested" solution that would have made you a fortune.

I don't recall any version of such a scheme that ever held up for long when it was then used to make investments going forward. Why? Conditions change.

Mr. Greenblatt's approach uses a 17 year history during one of the strongest bull markets in American investing history to come up with his approach. Will this approach work during a flat or declining market? Who knows?

Mr. Greenblatt argues (unpersuasively to my mind) that his approach will continue to work because the method fails to work very consistently over periods of less than three years. That will discourage anyone from using it for very long.

The approach is summarized on pages 134 and 135. Basically, you go to his Web site ([...]) and use the data there to pick companies with a low price relative to buy 20-30 stocks over the next year (a few every 3 months). You sell each one a day or so after a year has passed (to get capital gains treatment), and replace it with another stock. You pick a minimum size market cap (he suggests at least $50 million), and you select from among the stocks for companies which traded at the lowest multiple of EBIT (earnings before interest and taxes) which had the highest ration of EBIT to the sum of net working capital plus net fixed assets in the prior 12 months. The Web site does this for you now for free.

Here is another practical problem with the book. You need to have quite a lot of money to start with or trading fees will eat up your capital. Let's say you have $10,000 to start. You will be making 60 trades a year to buy and sell 30 stocks.
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Format:Gebundene Ausgabe
Whether or not this book's "magic formula" delivers the results that author Joel Greenblatt promises, the book itself presents a lucid, simple explanation of investing in the stock market. Unlike many who write about investing in stocks and offer formulas for success, Greenblatt is remarkably honest in his discussion of the difficulty of beating the market and remarkably modest in his claims (although perhaps not quite as restrained in referring to his Web site). We find that the chief merit of this bestseller is not its formula for success (which derives from guru Benjamin Graham's value approach), but rather its clear, step-by-step introduction to the fundamentals of investing for novices. The author makes the market understandable to a child. That is quite an achievement.
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5.0 von 5 Sternen Thanks 15. Februar 2014
Von AD
Format:Gebundene Ausgabe|Von Amazon bestätigter Kauf
Item was in very good condition and postage on time and great service. Thanks again for the speed of executing the order.
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Beliebte Markierungen

 (Was ist das?)
&quote;
if you just stick to buying good companies (ones that have a high return on capital) and to buying those companies only at bargain prices (at prices that give you a high earnings yield), you can end up systematically buying many of the good companies that crazy Mr. Market has decided to literally give away. &quote;
Markiert von 212 Kindle-Nutzern
&quote;
In short, companies that achieve a high return on capital are likely to have a special advantage of some kind. That special advantage keeps competitors from destroying the ability to earn above-average profits. &quote;
Markiert von 163 Kindle-Nutzern
&quote;
That 10 percent return, calculated by dividing the earnings per share for the year by the share price, is known as the earnings yield. &quote;
Markiert von 160 Kindle-Nutzern

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