The Little Book that Beats the Market - Joel Greenblatt

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결론: 영상은 조엘 그린블랫의 『The Little Book that Beats the Market』 소개이며, 특정 자산의 가격 방향에 대한 예측은 없다. 책의 핵심 내용: 현금 보관(인플레이션으로 가치 하락), 은행 예금(낮은 이자), 회사채(부도 위험)에 비해 주식 투자로 자산을 키우는 것이 낫다는 주장. 재무제표 설명: 예시 회사의 총매출 1,000만 달러, 매출원가 600만 달러, 판관비 200만 달러, 세전이익 200만 달러, 순이익 120만 달러 등 연간 손익계산서 읽는 법을 소개. 투자 원칙: 평균 이상의 기업을 평균 이하 가격에 사서 안전마진을 확보하고 꾸준한 수익을 노리는 전략. 수익률 대비 주가가 낮고 자본수익률이 높은 기업을 매수하는 '마법 공식' 투자를 강조. 실행 방법: 투자 금액, 보유 종목 수(20~30개), 분할 매수 주기(예: 3개월마다 7종목)를 정하는 절차를 설명. 발언자는 실제로 2023년 4월, 7월, 10월에 세 차례 나눠 21개 종목을 매수했다고 밝힘. 출연자 의견: 마법 공식 투자가 저평가 우량주 매수 전략으로서 시장을 상회하는 성과를 낸다는 학술 연구가 많다고 언급했으나, 이는 과거 연구 설명이며 특정 종목·지수에 대한 전망은 아님. 이 책은 재무 서적 라이브러리의 일부로 유용하나 가장 중요한 책은 아니라고 평가. 언급 종목: 구체적 종목명 언급 없음. 매수 대상 자산에 대한 방향성 발언 없음.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. tonight I'm going to talk to you about the little book that beats the market by Joel greenblat it's a little book so there isn't a lot to talk about I mean I could I suppose but I just want to get to the the most important uh parts of this book greenblat says you could put your money under a mattress or in your piggy bank but when you come to get it years later it will be worth less than when you put it there in the first place that's because of inflation you could put your money in the bank and collect a small amount of interest but that's not going to get you everything that you need it's not going to make you rich or you could buy Bonds in a company like McDonald's but if something goes wrong with the company or they go bankrupt then you may never get your interest or your money back finally you could invest your money and make it grow and that's what this book is essentially about before you invest in in the company you need to be able to read the annual income statement sheet these are very important and you can learn how to read these you could obviously probably even find books on the subject but green black gives a fictional example and this is a a gum shop so total sales are $10 million cost of goods sold um uh $6 million gross profit is four and you got to subtract that uh selling General and administrative uh cost $2 million income before taxes um 2 million and then subtract 800,000 and then the net income is $1,200,000 he says buy shares of an above average company at below average prices buying shares at a a discount will provide you with a large margin of safety and lead to safe and consistently profitable Investments so purchase a company that earns more relative to the price your pain and a high return on Capital have a visitor it's a doggle um he promotes this magic formula investing qu quite a bit in this book you just follow the instructions I suppose this is the uh the site I signed up for it all right so let's go here you know there's so far I don't know if there's a lot to it but I I suppose there is and you can watch this ladies video and I I'll go through this just a little bit just to kind of give you an idea of um you know what to do it's a tutorial and uh her name is Rose now I haven't actually watched this but um I'll share a little bit of it with you right now without you having to do any extra research there's really nothing magical about the formula there's a lot of studies that demonstrate that uh an approach like this of buying good companies at cheap prices does outperform the market so now that you have some background info and it's refreshed your memory about the magic formula let's get into the actual tutorial step one is to make three key decisions before we start buying anything we need to figure out first what the total dollar amount you have to invest is and for me I'm investing in my seep Ira which is a type of retirement account for self-employed people and I have about 14 $1,000 in there so for you if let's say you're doing it in your Roth IRA and you have $5,000 then that's the total amount you have to invest for me it's um 14 about $14,000 um it's a little more than that 14,300 the second thing you need to decide is how many stocks you're going to end up with in your portfolio and Joel greenblat in the book he says anywhere from 20 to 30 stocks is fine if you want to air on the side of more diversification then go for 30 if you want to air on the side of less diversification less work and possibly more ups and downs in volatility then go for 20 I just kind of decided on a 21 just because it's a nice even number in terms of makes it really easy to just buy um it's a nice clean number because the thing about this number is we're not going to be buying all 20 stocks at once the magic formula wants you to buy them in batches spaced out over the course of almost a year so Joel greenlot says you could do say seven stocks every three months so that you end up with 21 at the end of nine months or you could do five stocks every two months so you end up with 30 I chose 21 because I'm I'm going to do it every 3 months every every 3 months I'm going to buy seven stocks so these are the three things you need to figure out the total dollar amount you have to invest how many stocks you want in your portfolio ultimately and based off of that how how often you need to buy stocks and how many you'll buy each time okay so um given that you are well in my example I'm going to invest $144,000 and I'm going to have 21 stocks total that means I need to buy just doing a little division here about $680 of each stock okay so these are the three well four pieces of information actually that you need to know before we get on with it and now I'm going to just show you a little bit um of my actual portfolio um well surprise surprise I actually bought all 21 stocks already because I implemented this a little bit earlier this year so um my tutorial today is going to be more like a mock tutorial because I don't actually need to do anything yet but I made this spreadsheet and I will tell you how to download this spreadsheet or get a copy of it later on but um what I did was on April 1st I bought my first seven stocks and then three months later on July 1st I bought my um my next batch of seven stocks right here and then 3 months later on October 1st I bought my last batch of seven stocks so that gives you an idea of how this works I suggest watching her video it's it's kind of long so I don't want to go through the whole thing but um I think uh I think this is a good book to read just you know just to have it as part of your Finance library but it's not the most important book there are others that I I think are way more important than this one anyway that's all I got and I will talk to you later bye