In this little book, Joel Greenblatt presents his simple magic formula for value investing in the stock market.

This book is truly a little book, but it packs a punch. The writing style is truly engaging and funny. And at the same time, Joel very clearly teaches you the why and how of his system.

I'm not sure if "magic formula" is a name that inspires confidence, but after reading the book, you have a good understanding of it and you are able to apply it to your own investing.

The new edition adds a chapter discussing the 2007/2008 crisis and explains how the magic formula kept working throughout those years.

Because I really like this book, I also have some things I'd love to see improved in the next edition: I wish there was some more explanation of the limits of the system. Some companies are just not very well suited for the magic formula (which I understood after discussing the book with a much more experienced investor friend).

A final remark I have are the chapter names. Or the complete lack of them. It's difficult to find something back in the book, even though it's only about 150 pages.

But overall, great book and a must read for any one looking to invest in the market for the long term.