Hidden Investment Treasures: How to Find Great Stock Investments as the Investment World Goes Passive

by Daniel Gladiš

224 pages, Hardcover

Published October 7, 2025

Reviews

[David Fojtik · Rating 5 out of 5]

My favourite investment/stock picking author, read two of his previous books plus his regular letters to shareholders (Vltava Fund SICAV). I read the Czech version of this book published in March 2025. The book has a great introduction written by Vaclav Dejcmar and great concept of describing in detail why the author picked certain stocks over the period of app 15 years. For me an excellent read providing great insights into author's thinking and analysis - a very refreshing read in today's passive ETF investment world.

[Marek · Rating 4 out of 5]

Forget your NVIDIAs and Alphabets - I liked this book because it pushes readers to look where the market is not paying too much attention, e.g. litigation finance, niche tourism stocks, and hidden treasures in the disliked automotive sector. This lens is refreshing.

The book strikes a good balance between corporate finance theory inspired by the Berkshire Hathaway investment philosophy (and shareholder letters) and practical stock ideas. What works well is that the author does not just list investments, but explains why they were made, grounding each idea in clear reasoning.

That said, I did find myself wanting more depth in some parts. Specifically, more discussion around "what the market is missing" and how the author's view differs from consensus would have strengthened the case for some investments. It feels like the underlying internal analysis is likely deeper than what is presented on the page.

Overall, this is a thoughtful read that will appeal to long-term, fundamentals-driven investors.

[Jake Barfield · Rating 4 out of 5]

I really enjoyed this book and Daniel‘s thought process behind creating it; which was essentially a book format of the investment ideas conferences that he and I both regularly attend.

I especially enjoyed the early chapters where Daniel was talking about how the market has changed over the last couple of decades with a shift towards passive resulting in decreased price discovery among undervalued companies and what the active manager must do in response to that in order to generate an adequate return within a reasonable timeline, i.e. focusing on share cannibals. I have undergone a similar shift in mindset over the last few years.

[Green Investment Partners · Rating 5 out of 5]

Great book

[Jiří · Rating 5 out of 5]

A book full of individual stock tips from an author who is a fund portfolio manager. He owns most of the stocks in the fund. I disagree with the views on passive investing, and then there is also the question of whether the fund outperforms the index.

And whether it isn't better to buy ETFs and get average returns for zero work.