Joshua Rosenbaum - The Little Book of Investing Like the Pros

In the Little Book series, the brightest icons in the financial world write on topics that range from tried-and-true investment strategies to tomorrow's new trends. Each book offers a unique perspective on investing, allowing the reader to pick and choose from the very best in investment advice today.

Books in the Little Book series include:

The Little Book of Investing Like the Pros by Pearl and Rosenbaum

The Little Book That Still Beats the Market by Joel Greenblatt

The Little Book That Saves Your Assets by David M. Darst

The Little Book That Builds Wealth by Pat Dorsey

The Little Book That Makes You Rich by Louis Navellier

The Little Book of Common Sense Investing by John C. Bogle

The Little Book of Value Investing by Christopher Browne

The Little Book of Big Dividends by Charles B. Carlson

The Little Book of Main Street Money by Jonathan Clements

The Little Book of Trading by Michael W. Covel

The Little Book of Valuation by Aswath Damodaran

The Little Book of Economics by Greg Ip

The Little Book of Sideways Markets by Vitaliy N. Katsenelson

The Little Book of Big Profits from Small Stocks by Hilary Kramer

The Little Book of Currency Trading by Kathy Lien

The Little Book of Bull ' s Eye Investing by John Mauldin

The Little Book of Emerging Markets by Mark Mobius

The Little Book of Behavioral Investing by James Montier

The Little Book of Hedge Funds by Anthony Scaramucci

The Little Book of Bull Moves by Peter D. Schiff

The Little B ook of Alternative Investments by Stein and DeMuth

The Little Book of Bulletproof Investing by Ben Stein and Phil DeMuth

The Little Book of Commodity Investing by John R. Stephenson

The Little Book of the Shrinking Dollar by Addison Wiggin

The Little Book of Stock Market Profits by Mitch Zacks

The Little Book of Safe Money by Jason Zweig

Copyright © 2020 by Joshua Pearl and Joshua Rosenbaum. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

Cover image: banner. © Michael M Schwab/Getty Images

Cover design: Wiley

Author portraits: Noli Novak

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Library of Congress Cataloging-in-Publication Data:

ISBN 978-1-118-28140-6 (cloth)

ISBN 978-1-119-38826-5 (ePDF)

ISBN 978-1-119-38810-4 (ePub)

To the memory of my grandfather, Joseph Pearl, a Holocaust survivor, for his inspiration to persevere and succeed.

—J.P.

In loving memory of Ronie Rosenbaum, an inspiration for strength and selflessness.

—J.R.

1 Cover

2 About the Authors About the Authors Please feel free to contact JOSHUA PEARL and JOSHUA ROSENBAUM with any questions, comments, or suggestions for future editions at: josh@investinglikethepros.com

3 Foreword by Howard Marks Foreword Howard Marks Co-Chairman and Co-Founder, Oaktree Capital Management In 2011, I wrote a book called The Most Important Thing: Uncommon Sense for the Thoughtful Investor . I intended the title to be somewhat ironic, since in investing there is no single most important thing. A huge number of elements have to be taken into account in every investment decision, and the process has to be broad and yet detailed, both methodical and creative. How can would-be investors or those on the way up learn about all of these elements and how to incorporate them into their methodology? The Little Book of Investing Like the Pros by Joshua Pearl and Joshua Rosenbaum is a terrific source of help in this regard. It will quickly get the would-be stock market investor started up the learning curve. Simply put, I have never before seen a book that provides the same complete and thoughtful orientation to the process of investing. The Little Book is clear, logical and well-organized, a concise survey course in what investors need to know. It starts at the beginning, with identifying candidates for investment and screening them for potential. Then it progresses to studying the subject companies' finances as well as gauging the potential of their businesses. It moves on to the essential element of gauging whether the attributes that have been identified are highly valued at the stock's price or a bargain. And it concludes with thoughts on how to determine the role the stock can play in an investor's portfolio. It illustrates these lessons by way of the example of companies that are followed throughout the book. The bottom line for me is that The Little Book of Investing Like the Pros provides a simple introduction to a far-from-simple field. Superior performance in the competitive field of investing requires both covering the nuts-and-bolts elements that most experienced investors are familiar with, and mastery of nuanced considerations that will lead to success only if the investor understands them better than others. Identifying and learning to grapple with the former will free the reader to turn to a meditation on the latter. I'm glad The Little Book of Investing Like the Pros is at hand to accelerate the reader's progress. It does an excellent job of introducing the decisions that have to be made. You'll find learning to make them well to be a fascinating lifetime's work.