ملخص كتاب الكتاب الصغير الذي لا يزال يتفوق على السوق: أهم الأفكار والدروس

أهم الأفكار

• The Magic Formula combines two metrics: Earnings Yield (cheapness) and Return on Capital (quality) to find undervalued high-quality businesses
• Earnings Yield = EBIT / Enterprise Value - superior to P/E because it accounts for debt and uses operating earnings
• Return on Capital = EBIT / (Net Working Capital + Net Fixed Assets) - measures true business efficiency without debt manipulation
• Exclude financials, utilities, and micro-caps from your screening universe
• Build a portfolio of 20-30 stocks using staggered entry over 9-12 months to avoid timing risk
• Hold every stock for exactly one year, then sell and replace with current top-ranked stocks

عن هذا الملخص

The Magic Formula Masterclass: Buying Good Companies at Cheap Prices A Guide for the Rational Investor Introduction: Exploiting Irrationality Welcome to the only finance class you will ever actually need. If you have spent any time watching CNBC, reading analyst reports, or listening to your brother in law brag about a cryptocurrency that sounds like a sneeze, you have likely come to a terrifying conclusion: The stock market makes absolutely no sense. And you would be right. Most of the time, the market is efficient. It prices things correctly. But "most of the time" isn't "all of the time." Frequently, the market behaves like a manic depressive fellow we'll call Mr. Market . Sometimes he...