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The Little Book of Investing Like the Pros: Five Steps for Picking Stocks (Little Books. Big Profits) Kindle Edition

by Joshua Pearl (Author), Joshua Rosenbaum (Author), Howard Marks (Foreword) Format: Kindle Edition

4.2 209 ratings

Part of: Little Books. Big Profits (26 books)

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The FINAL Installment of Wiley's Renowned "Little Book" Series

As you have probably noticed, there are quite a few investing books out there. Many of them were written by some of the world's greatest investors. So, why should you read our book?

Stock investing is more prevalent than ever, whether directly or indirectly through brokerage accounts, exchange-traded funds, mutual funds, or retirement plans. Despite this, the vast majority of individual investors have no training on how to pick stocks. And, until now, there hasn't been a truly accessible, easy-to-understand resource available to help them. The Little Book of Investing Like the Pros was written to fill this void.

We believe the simplicity and accessibility of our stock picking framework is truly unique. Using real-world examples and actual Wall Street models used by the pros, we teach you how to pick stocks in a highly accessible, step-by-step manner. Our goal is straightforward--to impart the skills necessary for finding high-quality stocks while protecting your portfolio with risk management best practices.

Our practical approach is designed to help demystify the investing process, which can be intimidating. This training will help set you apart from others who are largely flying blind.

Pilots require extensive training before receiving a license. Doctors must graduate medical school, followed by a multi-year residency. Even those providing professional investment advice require certification. But, anyone can buy a stock without any training whatsoever. While buying stocks on a hunch and a prayer may not endanger your life, it can certainly put your finances at risk.

From the brand

The Little Books, Big Profits series packs practical and powerful financial advice from some of the industry's leading influencers in one small, but mighty package. The series presents financial strategies in general and understandable terms and are perfect for investors at all levels looking to make smart decisions in the finance market.
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From the Publisher

stock investing, investing like the pros, joshua pearl, joshua rosenbaum, picking stocks

Editorial Reviews

Review

Praise for The Little Book of Investing Like the Pros

"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."
―Foreword by Howard Marks, Co-Chairman and Co-Founder, Oaktree Capital Management

"Contrary to what many believe, investing need not be a random walk. For would-be stock pickers who want to beat the market, The Little Book of Investing Like the Pros articulates a process which will greatly assist them in achieving that goal."
―Stanley Druckenmiller, Founder & CIO, Duquesne Family Office

"Pearl and Rosenbaum have written a book that any serious investor, or anyone aspiring to be one, will want to read. Investing in stocks sounds easy. It's not. Emotion surrounding equities and money too often impedes clear and methodical thinking, which is the key to long-term success in the stock market. This volume provides a framework that will help you stay on track."
―David Abrams, Founder, Abrams Capital Management

"The two Joshes have produced a succinct investment guide. They have distilled some of the most complex investing concepts into an easily digestible and accessible framework."
―Nelson Peltz, CEO & Founding Partner, Trian Fund Management

"This book is a valuable guide for investors learning to select securities and build portfolios in a thoughtful, professional manner. The authors provide an easy-to-follow approach which begins with idea generation and moves through the critical steps for analyzing company performance, security valuation, and potential risks."
―Abby Joseph Cohen, CFA, Advisory Director and Senior Investment Strategist, Goldman Sachs

"Josh was among the first investors outside of the cable universe to understand and believe in what we could do with Charter. The tools and techniques contained in this book were crucial in uncovering this story, which continues to unfold."
―Thomas Rutledge, Chairman & CEO, Charter Communications

"When we did our roadshow, many investors felt our story was too good to be true. Those that didn't invest missed out on a tremendous ride. This book may have helped them make a different decision."
―Rodney O'Neal, Retired President CEO, Delphi Automotive

From the Inside Flap

As you have probably noticed, there are quite a few investing books out there. Many of them were written by some of the world's greatest investors. So, why should you read our book?

Stock investing is more prevalent than ever, whether directly or indirectly through brokerage accounts, exchange-traded funds, mutual funds, or retirement plans. Despite this, the vast majority of individual investors have no training on how to pick stocks. And, until now, there hasn't been a truly accessible, easy-to-understand resource available to help them. The Little Book of Investing Like the Pros was written to fill this void.

We believe the simplicity and accessibility of our stock picking framework is truly unique. Using real-world examples and actual Wall Street models used by the pros, we teach you how to pick stocks in a highly accessible, step-by-step manner. Our goal is straightforward--to impart the skills necessary for finding high-quality stocks while protecting your portfolio with risk management best practices.

Our practical approach is designed to help demystify the investing process, which can be intimidating. This training will help set you apart from others who are largely flying blind.

Pilots require extensive training before receiving a license. Doctors must graduate medical school, followed by a multi-year residency. Even those providing professional investment advice require certification. But, anyone can buy a stock without any training whatsoever. While buying stocks on a hunch and a prayer may not endanger your life, it can certainly put your finances at risk.

From the Back Cover

Praise for The Little Book of Investing Like the Pros"Contrary to what many believe, investing need not be a random walk. For would-be stock pickers who want to beat the market, The Little Book of Investing Like the Pros articulates a process which will greatly assist them in achieving that goal."
―Stanley Druckenmiller, Founder & CIO, Duquesne Family Office

"Pearl and Rosenbaum have written a book that any serious investor, or anyone aspiring to be one, will want to read. Investing in stocks sounds easy. It's not. Emotion surrounding equities and money too often impedes clear and methodical thinking, which is the key to long-term success in the stock market. This volume provides a framework that will help you stay on track."
―David Abrams, Founder, Abrams Capital Management

"The two Joshes have produced a succinct investment guide. They have distilled some of the most complex investing concepts into an easily digestible and accessible framework."
―Nelson Peltz, CEO & Founding Partner, Trian Fund Management, L.P.

"This book is a valuable guide for investors learning to select securities and build portfolios in a thoughtful, professional manner. The authors provide an easy-to-follow approach which begins with idea generation and moves through the critical steps for analyzing company performance, security valuation, and potential risks."
―Abby Joseph Cohen, CFA, Advisory Director & Senior Investment Strategist, Goldman Sachs

"Josh was among the first investors outside of the cable universe to understand and believe in what we could do with Charter. The tools and techniques contained in this book were crucial in uncovering this story, which continues to unfold."
―Thomas Rutledge, Chairman & CEO, Charter Communications

"When we did our roadshow, many investors felt our story was too good to be true. Those that didn't invest missed out on a tremendous ride. This book may have helped them make a different decision."
―Rodney O'Neal, Retired President & CEO, Delphi Automotive

About the Author

JOSHUA PEARL is the Founder and Chief Investment Officer of Hickory Lane, a long/short equity asset manager. He focuses on equity investments and special situations utilizing a fundamentals-based approach. From 2011-2020, he served as a Managing Director and Partner at Brahman Capital. Previously, he structured high yield financings, leveraged buyouts, and restructurings as a Director at UBS Investment Bank. Prior to UBS, he worked at Moelis & Company and Deutsche Bank. He received his BS in Business from Indiana University's Kelley School of Business. He is also the co-author of Investment Banking: Valuation, LBOs, M&A, and IPOs.

JOSHUA ROSENBAUM is a Managing Director and Head of the Industrials & Diversified Services Group at RBC Capital Markets. He originates, structures, and advises on M&A, corporate finance, and capital markets transactions. Previously, he worked at UBS Investment Bank and the International Finance Corporation, the direct investment division of the World Bank. He received his AB from Harvard and his MBA with Baker Scholar honors from Harvard Business School. He is also the co-author of Investment Banking: Valuation, LBOs, M&A, and IPOs.

Product details

ASIN ‏ : ‎ B084RVJQZW
Publisher ‏ : ‎ Wiley; 1st edition (February 13, 2020)
Publication date ‏ : ‎ February 13, 2020
Language ‏ : ‎ English
File size ‏ : ‎ 5966 KB
Text-to-Speech ‏ : ‎ Enabled
Screen Reader ‏ : ‎ Supported
Enhanced typesetting ‏ : ‎ Enabled
X-Ray ‏ : ‎ Enabled
Word Wise ‏ : ‎ Enabled
Sticky notes ‏ : ‎ On Kindle Scribe
Print length ‏ : ‎ 311 pages

Best Sellers Rank: #411,995 in Kindle Store (See Top 100 in Kindle Store)
- #30 in Valuation (Kindle Store)
- #127 in Valuation (Books)
- #235 in Stock Market Investing (Kindle Store)

Customer Reviews:
4.2 209 ratings

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Joshua Rosenbaum
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JOSHUA ROSENBAUM is the Global Head of the Industrials Group at RBC Capital Markets. He is a frequent speaker on M&A, capital markets and investment banking, providing unique and timely insight on sector trends, valuation and outlook. Previously, he worked at UBS Investment Bank and the International Finance Corporation, the direct investment division of the World Bank. He received his AB from Harvard and his MBA with Baker Scholar honors from Harvard Business School.
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Joshua Pearl
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Joshua Pearl is the Founder and Chief Investment Officer of Hickory Lane Capital Management LP, a value-oriented asset manager focused on special situations utilizing a fundamentals-based approach, primarily in the tech / media / telecom (TMT), industrials, and consumer sectors.
Prior to launching Hickory Lane, Mr. Pearl worked as a Managing Director and Partner at Brahman Capital for nearly a decade. Before entering investment management, he worked as an investment banker at UBS Investment Bank, Moelis & Company, and Deutsche Bank. In these roles, he focused on high yield financings, leveraged buyouts, restructurings, mergers & acquisitions, activism, and board advisory. He worked on some of the largest and most complex bankruptcies in history, including General Motors and Chrysler.
Mr. Pearl has demystified many of the tools and techniques used in investment banking and investing by co-authoring several books, including Investment Banking: Valuation, LBOs, M&A, and IPOs and The Little Book of Investing Like the Pros: Five Steps for Picking Stocks.
Mr. Pearl has frequently been profiled by media outlets, including CNBC, Institutional Investor, AlphaWeek, Bloomberg Markets, Newsmax, The UK Telegraph, The Charles Mizrahi Show, The Princeton Financier, and Harvard College Investment Magazine. He has corporate partnerships with Nasdaq, the leading U.S. exchange and technology provider for IPOs and new listings; global law firm Latham & Watkins, the #1 IPO adviser and #1 public M&A adviser; Datasite, the #1 provider in M&A lifecycle software, and Altrum, the global leader in custom deal toys and financial tombstones.
Mr. Pearl earned his Bachelor of Science in Business from Indiana University's Kelley School of Business in 2003. He grew up in Cleveland, Ohio, and currently resides in New York, New York.
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Customer reviews

4.2 out of 5

209 global ratings

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HelsinkiStationChief

At Last, A Book On The Investing Process

Reviewed in the United States on February 4, 2021

Verified Purchase

This book is the most complete step-by-step guide on stock picking I’ve read. This book is not a niche book on valuation or technicals, but an overview of the PROCESS of investing. I didn’t realize how few books there are like this. How do you know when your research is finished? What are the pros doing and researching that I am not? What am I missing? All these questions were answered therein.

The authors Pearl & Rosenbaum come from an investment banking background and previously wrote a book called “Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions”. Some of the book discusses event driven opportunities that an investment banker would have an intellectual edge investing in (e.g. mergers, spin-offs, LBO’s, bankruptcy turn-arounds, etc).

The most helpful part of the book was the Word and Excel templates the authors use to organize their process. I went to their website and downloaded the templates and they greatly help in streamlining your research. Again, this book’s value was not in the nuts and bolts but in providing a framework to put it all together.

What I like the most is that the book is not a gimmick. It contains no trading tricks or get rich quick shortcuts. The authors provide the tools and a method for you to begin your research and the rest is up to you.

8 people found this helpful

Helpful

maris

amazing read

Reviewed in the United States on June 1, 2020

Verified Purchase

My friend recommended this book this for me, and I absolutely loved it. During my quarantine, I set out a goal to better understand stocks and markets when the economy began to struggle, and this is the resource that I have turned to. I cannot wait to apply the methods I learned throughout the course of this book. I have taken taken many finance courses during my time as undergrad, and none can even compare to this great read. This book not only educated me in how to invest, but also gave me the tools to land my first finance job in NYC.

6 people found this helpful

Helpful

Big Game James

Quite possibly the most tedious investment book ever written

Reviewed in the United States on September 21, 2021

Verified Purchase

The Little Book of Investing Like the Pros by Joshua Pearl is quite possibly the most tedious investment book ever written. I had previously thought nothing would ever top the Morningstar Guide called The Five Rules for Successful Stock Investing by Pat Dorsey for sheer tedium. But the Little Book takes the crown. If anything is going to propel you to start looking at Stock Charts, the 50-day Simple Moving Average, and the MACD (pronounced MacDEE), these two books should. Unless, of course, you happen to be an Institutional Investor or Professional Money Manager. Then, the Little Book of Investing Like the Pros would be relevant. But for most so-called "Retail Investors," this book is going to be an extremely tough read. It took me over nine months to read and I had to force myself to finish it.

Now, just to be clear, I'm not saying it's a bad book. The investment approach presented by Mr. Pearl is certainly legit. But as mentioned above, it's geared for investment pros, not the small-time investor. And it's not that the subject is beyond the understanding of retail investors. Mr. Pearl does a fine job of explaining things. But I don't think very many, if any, retail investors would have the time, discipline, patience, or desire to follow the extremely time-consuming, complicated, and tedious process. There's a phrase that became popular a few years back called, "getting into the weeds." That's what this book does. If you thought Fundamental Analysis was tedious enough just looking at Financial Statements and Financial Metrics, wait till you read this book.

6 people found this helpful

Helpful

Philip G. Eidelberg

Not for most beginners

Reviewed in the United States on May 5, 2020

Verified Purchase

The authors assert (p. 1) that their book is uniquely suited to helping clarify investing in the stock market for the "vast majority of individual investors" who "have no training on how to pick stocks, let alone basic financial
literacy". In fact, the book, while itself competent, demands an enormous amount of time and dedication for these same untrained and financially illiterate investors and therefore is unlikely realistically to meet the needs of its intended audience. It is regrettable that the authors make no attempt to compare "Investing like the Pros" to other works seeking the same objective. Why, for example, would a financial novice not seek instead simply to subscribe to a well known investment letter such as "Value Line"?

25 people found this helpful

Helpful

Lily Wagner

Essential Read for Interested Investors

Reviewed in the United States on June 2, 2020

Verified Purchase

They have a simple and straightforward goal in an incredibly confusing and intimidating space. The first book anyone and everyone should read before they enter the investing arena. I heard these two speak at my school last year. I was incredibly impressed my their knowledge and background and although I haven’t finished it yet, it’s living up to my high expectations.

Every college student interested in banking should study this religiously. It provides a great foundation for LBO’s and the way in which the big banks work. Debt, Equity, M&A, exc.

2 people found this helpful

Helpful

David S Carey

Amazing!

Reviewed in the United States on June 10, 2020

Verified Purchase

What a great read! This book helped to prepare me for my investment banking internship this summer, and I’m recommending it to all of my colleagues. Coming from a liberal arts school, this is a great place to start and is an essential resource for anyone trying to get into the banking industry. The real-life examples that they use from their past experiences make this book come to life, and it allowed me to relate to the material. Clean, organized, and a quick read!

One person found this helpful

Helpful

Mary Troy

Amazing!

Reviewed in the United States on June 1, 2020

Verified Purchase

I was recently told that I should look into investing my savings, but I had no idea where to start. Markets and stocks are incredibly complex, and this was the first resource I found that was able to simplify the industry. The organization of the text is great as it allows me to go back to brush-up on topics and terms when I hear about them on the news

One person found this helpful

Helpful

Kindle Customer

Great except portfolio chapter

Reviewed in the United States on February 26, 2021

Verified Purchase

This is a great book for picking stocks, with very specific instructions. Until the last chapter on portfolios, then they kind of wave their arms and say 'do whatever you want, but these are the things you need to consider.'

2 people found this helpful

Helpful

Top reviews from other countries

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Davi

Just ok.

Reviewed in Brazil on December 27, 2022

Verified Purchase

Nothing too special on this book. It's an average investing book.

ranjan kumar

Short & crisp to read

Reviewed in India on April 15, 2023

Verified Purchase

Very nice book,but it could have been
better if the writers have explained the sources from where a novice investor can get the data as explained in the book.

netPoledy

A simple problem

Reviewed in the United Kingdom on December 12, 2020

Verified Purchase

The content of the book is extraordinary. Simple and clear. What a friend told me about the book. I decided to buy it. Unfortunately, whoever printed this book did a poor job.