Value

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I have discovered books by Joel Greenblatt, and I'm very interested in his approach and realistic "valuations" of investing. As a handicapper, these books offer a view of realism. He talks about the best fund managers, all of them, experiencing 3-5 years at the bottom of returns, but these guys are the best! So that tells us, both in the stock market, etc. and the "horse market", there's bad times. In order to succeed one really needs to think long term. But that's not easy, and most us really struggle with these down turns.

His books: The Big Secret for the Small Investor and The Little Book That Beats The Market are excellent reading material.