The Little Book That Still Beats the Market
Joel Greenblatt’s The Little Book That Still Beats the Market, published in Taiwan as 《超越大盤的獲利公式:葛林布萊特的神奇法則》, turns value investing into a simple, disciplined process. Its core lesson is that investors do not need constant predictions, market timing, or complicated models. They need a repeatable way to find good businesses trading at attractive prices, then the patience to let that edge work over time. The book’s “Magic Formula” ranks companies by business quality and valuation, pushing investors toward firms that earn strong returns on capital while still being priced cheaply. Its bigger message is behavioral: a sound strategy can still fail if you abandon it during weak periods. Greenblatt’s approach is useful not because it removes risk, but because it gives ordinary investors a clear checklist, reduces emotional decision-making, and encourages long-term thinking over short-term noise. ...