Behind The Idea #89: You Can Be A Stock Market Genius, Pt. 4

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By Joseph Sancio and Seeking Alpha. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Through three episodes to this point on Joel Greenblatt's You Can Be A Stock Market Genius, Mike and I have discussed what we like about his famous special situation investing strategies, and what doesn't work. We've also shared our enthusiasm for the light touch he applies to his writing, and the way he doesn't appear to take himself too seriously.

Chapters 7 and 8 bring that feeling home. Chapter 7 because it shares how Greenblatt advises his readers to do the actual research, and one component is to borrow ideas from other investors. It's an obvious concept when you think about it, but it also suggests a touch of humility that plays out throughout the book. We look at Greenblatt's sources and favorite books to understand the rest of the book better.

Then, Chapter 8 is the shortest chapter, and it underlines Greenblatt's entire philosophy as I understand it. Basically, investing and growing your money can give you time and options later on. When active vs. passive remains a hotly contested topic, and when nobody is satisfied with even a 10+ year bull market, it's worth remembering that you should invest if you enjoy it, and the goal is to buy you time to do the things you want to do with the people you want to do them with, and nothing more or less.

We discuss the philosophy and the minutiae on our concluding episode about Greenblatt's book.

Topics Covered

  • 3:40 minute mark - The highlights of Chapter 7
  • 8:40 - Coattail riding in today's market
  • 18:40 - Thoughts about sources listed in the book and their relevance 22 years later.
  • 21:00 - Reviewing Greenblatt's favorite books
  • 27:00 - The philosophy: money is time. Do we buy?
  • 35:30 - Final dad jokes and notes from the book.

100 episodes