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Batiendo a Wall Street
El legendario gestor de fondos Peter Lynch explica en este libro sus estrategias de inversión y sus claves sobre cómo seleccionar acciones y fondos para conseguir la mejor cartera de inversiones posible.
Inicia este libro con un repaso de sus años como gestor del Magellan Fund analizando las estrategias que siguió, la metodología que usó y las principales operaciones que hizo, incluyendo tanto sus aciertor como sus errores.
En la segunda parte se centra en el proceso de análisis que utilizó para seleccionar las famosas veintiuna acciones que recomendó a los lectores de la revista Barron's la principal publicación financiera y de negocios de Estados Unidos. Y aporta, con relato minucioso, sus tácticas en la elección de acciones.
Una clave importante para invertir, según Lynch, es recordar que las acciones no son los billetes de lotería: detrás de cada acción siempre hay una empresa y una razón por la que las compañías crecen de la manera en que lo hacen. Otra de sus recomendaciones es invertir en aquello que uno conoce y anima a los inversores a convertirse en expertos en el sector y en la empresa en la que invierten.
Batiendo a Wall Street es un texto repleto de anécdotas, consejos y ejemplos del método de inversión de uno de los más prestigiosos gestores de fondo del mundo. Y se ha convertido en un clásico que enseña cómo el inversor particular puede alcanzar mayores logros que un administrador profesional si sigue sus enseñanzas.
Inicia este libro con un repaso de sus años como gestor del Magellan Fund analizando las estrategias que siguió, la metodología que usó y las principales operaciones que hizo, incluyendo tanto sus aciertor como sus errores.
En la segunda parte se centra en el proceso de análisis que utilizó para seleccionar las famosas veintiuna acciones que recomendó a los lectores de la revista Barron's la principal publicación financiera y de negocios de Estados Unidos. Y aporta, con relato minucioso, sus tácticas en la elección de acciones.
Una clave importante para invertir, según Lynch, es recordar que las acciones no son los billetes de lotería: detrás de cada acción siempre hay una empresa y una razón por la que las compañías crecen de la manera en que lo hacen. Otra de sus recomendaciones es invertir en aquello que uno conoce y anima a los inversores a convertirse en expertos en el sector y en la empresa en la que invierten.
Batiendo a Wall Street es un texto repleto de anécdotas, consejos y ejemplos del método de inversión de uno de los más prestigiosos gestores de fondo del mundo. Y se ha convertido en un clásico que enseña cómo el inversor particular puede alcanzar mayores logros que un administrador profesional si sigue sus enseñanzas.
416 pages, Paperback
First published January 1, 1992
1256 people are currently reading
16807 people want to read
About the author
Peter Lynch
48 books996 followersPeter Lynch is an American businessman and stock investor. Lynch graduated from Boston College in 1965 and earned a Master of Business Administration from the Wharton School of the University of Pennsylvania in 1968.
Lynch worked at Fidelity Investments where named head of the then obscure Magellan Fund which had $18 million in assets. By the time Lynch resigned as a fund manager in 1990, the fund had grown to more than $14 billion in assets with more than 1,000 individual stock positions. From 1977 until 1990, the Magellan fund averaged a 29.2% return and as of 2003 had the best 20-year return of any mutual fund ever.
Though he continues to work part-time as vice chairman of Fidelity Management & Research Co., the investment adviser arm of Fidelity Investments, spending most of his time mentoring young analysts, Peter Lynch focuses a great deal of time on philanthropy. He said he views philanthropy as a form of investment. He said he prefers to give money to support ideas that he thinks can spread.
Lynch worked at Fidelity Investments where named head of the then obscure Magellan Fund which had $18 million in assets. By the time Lynch resigned as a fund manager in 1990, the fund had grown to more than $14 billion in assets with more than 1,000 individual stock positions. From 1977 until 1990, the Magellan fund averaged a 29.2% return and as of 2003 had the best 20-year return of any mutual fund ever.
Though he continues to work part-time as vice chairman of Fidelity Management & Research Co., the investment adviser arm of Fidelity Investments, spending most of his time mentoring young analysts, Peter Lynch focuses a great deal of time on philanthropy. He said he views philanthropy as a form of investment. He said he prefers to give money to support ideas that he thinks can spread.
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Displaying 1 - 30 of 373 reviews
December 20, 2012
I think there were 3 purposes of this book.
1 - Get you excited to invest in stocks
2 - Teach you to invest in what you know
3 - Teach you to invest regularly and avoid psychological pitfalls
If you look at it as analysis on companies, it makes no sense, as it was written in the early '90's and not only are his analysis no longer accurate, some of the companies don't even exist in the same form.
What you should look at is his methodology of gaining information and researching companies. His excitement is meant to get you excited.
It works. I am excited to invest. The book club that read this is forming an investment club to begin investing, so I can't really speak poorly of the book.
1 - Get you excited to invest in stocks
2 - Teach you to invest in what you know
3 - Teach you to invest regularly and avoid psychological pitfalls
If you look at it as analysis on companies, it makes no sense, as it was written in the early '90's and not only are his analysis no longer accurate, some of the companies don't even exist in the same form.
What you should look at is his methodology of gaining information and researching companies. His excitement is meant to get you excited.
It works. I am excited to invest. The book club that read this is forming an investment club to begin investing, so I can't really speak poorly of the book.
July 30, 2021
What a bore. Wore me out.
August 27, 2016
Regular re-read (every 5-10 years) of one of my two favorite investment books. (The other one is by the same author--the greatest mutual fund manager of all time). It's got everything you need to know about investing in stocks not by using some seat-of-the-pants method but by analyzing the company and its business. It's a must read for everyone who wants to buy individual stocks of any kind. Enjoy!
August 2, 2014
Invest in What You Know and Like and Understand!
“Twenty years in this business convinces me that any normal person using the customary three percent of the brain can pick stocks as well as, if not better, than the average Wall Street expert.” - Peter Lynch
One of the wisest money managers of all time is Peter Lynch, the one-time portfolio manager of the spectacularly successful Fidelity Magellan Fund. He managed that fund for thirteen years and a thousand dollars invested in it when he started in 1977 ended up being worth $28,000 when he retired.
Genius? Just lucky? Or what? Well, luckily for us, Peter wrote a couple of books on stock picking telling us how he did it – One Up On Wall Street and Beating the Street. He maintains that the average intelligent investor can do better than most professional money managers using his methods. And interestingly enough, it’s not rocket science. It’s really just plain common sense. And the place to start, he says, is your own back yard.
What he means is that if you look around you, notice what you use and like and what other people seem to use and like, you may have found a good company to invest in. It’s important, he says, to understand what the company does. And he rather likes companies that do basic things, not fancy-schmanzy high falutin’ stuff that sounds impressive but what the heck is it? He also likes companies that serve a niche market and are growing.
Of course, the numbers are important. You want a company whose revenues and profits are growing. You want a company that has low to no debt. You want a company that has been doing well on the stock market even though it has not been noticed by the big guys.
Of course he goes into a lot more detail than I can cover here, but he gives an example of what he means in Beating the Street. A seventh grade social studies class at St. Agnes School in Arlington, Massachusetts used his methods and their own research to develop a fourteen stock portfolio in 1990. Two years later that portfolio was up 70%, outperforming the S&P 500 index which returned just 26%. These young students invested in what they knew and liked and used including Walt Disney, Nike, The Gap, Pentech (makers of colored markers), Pepsi, and Topps (makers of baseball cards).
This led Lynch to create a new investment principle: Never invest in any idea you van't illustrate with a crayon!
Maybe one of the best examples of this principle in action is the case of Anne Scheiber. She represents, not only the superb returns that can be enjoyed from a skillful buy and hold strategy, but also the pluck to jump back in the game after losing everything.
In 1933 and 1934, at the height of the depression, 38 year old Anne invested most of her life savings in the stock market. She let her broker brother make the picks and they were good ones. Unfortunately, his company went bankrupt and she lost everything. But Anne did not give up.
On her modest salary as an auditor for the Internal Revenue Service (just over $3000 a year), she managed to save another $5000 over the next ten years. In 1944 she invested in the stock market again. When she died in January 1995 at the age of 101, that modest investment had grown to $20 million. That's not a misprint. $20 million!!! That represents an annual compounded rate of return of 17.5%, ranking her among the top investors of all time.
Her secret? Miss Scheiber invested in stocks of companies that she knew and understood, companies whose products she used. She loved the movies. So she invested in Loew's, Columbia, Paramount and Capital Cities Broadcasting. She drank Coke and Pepsi and bought shares in both. She invested in the companies that made medications she took - Schering Plough and Bristol Myers Squibb. And so on. And she hung on to them through thick and thin for over forty years. Through the bear market of 1973-1974. Through the crash of 1987.
Miss Scheiber left virtually the entire fortune to New York's Yeshiva University. By the time the estate was settled in December of 1995, it had grown to $22 million.
Miss Scheiber’s story illustrates several important points. One is that you’re never too old to start. She lost everything when she was 38 and scraped together another $5000 which she invested at age 48. True, she did live to 101, which illustrates a second point – the time value of money. Even a modest investment can become millions over time. And the third point is the Lynch Principle, invest in what you know and understand and use.
“Twenty years in this business convinces me that any normal person using the customary three percent of the brain can pick stocks as well as, if not better, than the average Wall Street expert.” - Peter Lynch
One of the wisest money managers of all time is Peter Lynch, the one-time portfolio manager of the spectacularly successful Fidelity Magellan Fund. He managed that fund for thirteen years and a thousand dollars invested in it when he started in 1977 ended up being worth $28,000 when he retired.
Genius? Just lucky? Or what? Well, luckily for us, Peter wrote a couple of books on stock picking telling us how he did it – One Up On Wall Street and Beating the Street. He maintains that the average intelligent investor can do better than most professional money managers using his methods. And interestingly enough, it’s not rocket science. It’s really just plain common sense. And the place to start, he says, is your own back yard.
What he means is that if you look around you, notice what you use and like and what other people seem to use and like, you may have found a good company to invest in. It’s important, he says, to understand what the company does. And he rather likes companies that do basic things, not fancy-schmanzy high falutin’ stuff that sounds impressive but what the heck is it? He also likes companies that serve a niche market and are growing.
Of course, the numbers are important. You want a company whose revenues and profits are growing. You want a company that has low to no debt. You want a company that has been doing well on the stock market even though it has not been noticed by the big guys.
Of course he goes into a lot more detail than I can cover here, but he gives an example of what he means in Beating the Street. A seventh grade social studies class at St. Agnes School in Arlington, Massachusetts used his methods and their own research to develop a fourteen stock portfolio in 1990. Two years later that portfolio was up 70%, outperforming the S&P 500 index which returned just 26%. These young students invested in what they knew and liked and used including Walt Disney, Nike, The Gap, Pentech (makers of colored markers), Pepsi, and Topps (makers of baseball cards).
This led Lynch to create a new investment principle: Never invest in any idea you van't illustrate with a crayon!
Maybe one of the best examples of this principle in action is the case of Anne Scheiber. She represents, not only the superb returns that can be enjoyed from a skillful buy and hold strategy, but also the pluck to jump back in the game after losing everything.
In 1933 and 1934, at the height of the depression, 38 year old Anne invested most of her life savings in the stock market. She let her broker brother make the picks and they were good ones. Unfortunately, his company went bankrupt and she lost everything. But Anne did not give up.
On her modest salary as an auditor for the Internal Revenue Service (just over $3000 a year), she managed to save another $5000 over the next ten years. In 1944 she invested in the stock market again. When she died in January 1995 at the age of 101, that modest investment had grown to $20 million. That's not a misprint. $20 million!!! That represents an annual compounded rate of return of 17.5%, ranking her among the top investors of all time.
Her secret? Miss Scheiber invested in stocks of companies that she knew and understood, companies whose products she used. She loved the movies. So she invested in Loew's, Columbia, Paramount and Capital Cities Broadcasting. She drank Coke and Pepsi and bought shares in both. She invested in the companies that made medications she took - Schering Plough and Bristol Myers Squibb. And so on. And she hung on to them through thick and thin for over forty years. Through the bear market of 1973-1974. Through the crash of 1987.
Miss Scheiber left virtually the entire fortune to New York's Yeshiva University. By the time the estate was settled in December of 1995, it had grown to $22 million.
Miss Scheiber’s story illustrates several important points. One is that you’re never too old to start. She lost everything when she was 38 and scraped together another $5000 which she invested at age 48. True, she did live to 101, which illustrates a second point – the time value of money. Even a modest investment can become millions over time. And the third point is the Lynch Principle, invest in what you know and understand and use.
October 1, 2020
Often Intelligent Investor is recommended as the starting book when you are starting to invest, but I beg to differ and would recommend this as a starter. Peter Lynch has a good sense of humor, which becomes apparent in this book and keeps the reader interested as he occasionally makes sudden deep dives into the fundamental evaluation techniques that he used on a particular stock. This book introduces you to value investing techniques with applications on various stocks, while at the same time making you open-minded about other styles like growth stocks etc. Through various applications, he shows numerous ways of stock evaluation specific to different sectors.
August 14, 2015
Unlike his other 2 books (One up on Wall Street & Learn to Earn), I had chosen to give this book 3 stars instead due to my own inability to relate much to the examples cited in the book. Overall, it was still a relatively easy read.
I gave this book 3 stars as I had several difficulties in relating to the examples that were given in the book.
My main take-aways were:
1) Understanding the balance sheet (Pages 169 - 176)
2) Need for 6 monthly check-ups on the stories of the stocks.
3) The many different funds in the market.
In this book, Peter Lynch reinforces what he has been preaching throughout - Invest only in stocks that you have an understanding of. This understanding comes from being observant in daily life and taking the effort (a couple of hours) to do the necessary homework to follow-up on the notice made.
Peter Lynch also goes into writing about his time at managing Magellan through the years. In the latter part of the book, he describes how he goes about finding winners in the different sectors of the market aka "walking the talk".
However, as decades has past since this book was written, examples used were outdated. It was a challenge, at least for me, to be able to fully relate to the examples and to attempt to link those examples to the market today.
I gave this book 3 stars as I had several difficulties in relating to the examples that were given in the book.
My main take-aways were:
1) Understanding the balance sheet (Pages 169 - 176)
2) Need for 6 monthly check-ups on the stories of the stocks.
3) The many different funds in the market.
In this book, Peter Lynch reinforces what he has been preaching throughout - Invest only in stocks that you have an understanding of. This understanding comes from being observant in daily life and taking the effort (a couple of hours) to do the necessary homework to follow-up on the notice made.
Peter Lynch also goes into writing about his time at managing Magellan through the years. In the latter part of the book, he describes how he goes about finding winners in the different sectors of the market aka "walking the talk".
However, as decades has past since this book was written, examples used were outdated. It was a challenge, at least for me, to be able to fully relate to the examples and to attempt to link those examples to the market today.
September 14, 2020
I don't think you need to read this book if you've already read One up on Wall Street (which in my opinion is the better one between the two).
April 20, 2021
Đúng là nếu thích tài chính - đầu tư, thì bạn có rất nhiều sách hay để đọc. Điển hình là quyển này.
Trong đây, Peter Lynch (Nhà đầu tư huyền thoại đạt mức tăng trưởng >20%/năm trong hơn 20 năm, chỉ có Buffett là cạnh tranh được với con số này) đã đúc kết kinh nghiệm đầu tư của ông thành các công thức ngắn gọn, dạng như: Ta nên đầu tư vào các công ty công thoái vốn,... Kèm theo là những giải thích make sense. Hiệu quả hay không thì hoặc bạn backtest, hoặc cứ làm theo thử. :)) Mình chưa kiểm chứng bằng cả 2 cách, nhưng nghĩ ok. Có dịp sẽ thử.
Trong đây, Peter Lynch (Nhà đầu tư huyền thoại đạt mức tăng trưởng >20%/năm trong hơn 20 năm, chỉ có Buffett là cạnh tranh được với con số này) đã đúc kết kinh nghiệm đầu tư của ông thành các công thức ngắn gọn, dạng như: Ta nên đầu tư vào các công ty công thoái vốn,... Kèm theo là những giải thích make sense. Hiệu quả hay không thì hoặc bạn backtest, hoặc cứ làm theo thử. :)) Mình chưa kiểm chứng bằng cả 2 cách, nhưng nghĩ ok. Có dịp sẽ thử.
March 9, 2025
3.5. Probably was groundbreaking when it first came out (in 1993!) but now consists of either common or outdated knowledge. My favorite part was when he says quants are useless. Lol.
August 28, 2015
An American legend, though a bit of a tough read for me.
April 24, 2020
Valuable principles with an interesting perspective. However, this book often feels a bit dated. I also did not feel the advice applies to the everyday trader as much as it claims.
October 10, 2020
So this is one more addition to the investment philosophy by Peter Lynch one of the successful Mutual fund manager with compounded return of 29% generated for his shareholders while running Magellan fund for 13 years.
This book can be consider as a follow up to his another book One up on wall street in which mostly he focused how an amateur investor can use their "edge' in investing and can do more better in this supposedly field known to be handled by only "professionals".
Beating the street book mainly describe how he saw companies a great fit to his portfolio combining the value evaluation of the stocks and sometime how he used timing in the market to generate successful return for himself and shareholders. But this book was more based on selection strategies and roadmap for industries a investor can think of. But these strategies one amateur or part time investor may not find that much useful because many times he found the "edge" in the company by calling CEO which is a privilege is not of course to anyone.
This book can be consider as a follow up to his another book One up on wall street in which mostly he focused how an amateur investor can use their "edge' in investing and can do more better in this supposedly field known to be handled by only "professionals".
Beating the street book mainly describe how he saw companies a great fit to his portfolio combining the value evaluation of the stocks and sometime how he used timing in the market to generate successful return for himself and shareholders. But this book was more based on selection strategies and roadmap for industries a investor can think of. But these strategies one amateur or part time investor may not find that much useful because many times he found the "edge" in the company by calling CEO which is a privilege is not of course to anyone.
September 6, 2016
This book was written in 1993 and I dusted it off my book shelf and read it over 20 years later just to see what withstood the test of time. Although many things have changed in the past 20 years that are no longer relevant, a quick peruse of this book can give perspective to the ups and downs of the market and business in general. Lynch discusses both his hits and misses and it is fun to read where he did miss the mark. For example about the copper market he writes: "A traditional phone system requires miles and miles of copper wire. Unless all these start-up countries opt for a cellular phone in every pocket (a strategy that's unlikely)...."
As I am nearing retirement and spending more time analyzing my own investment hits and misses over the years with real estate, limited partnerships, and stocks, I realize it would have behooved me to read this book a few years earlier and applied some of his advise. The general trend has been up, though, not nearly as remarkably as Mr. Lynches track record!
As I am nearing retirement and spending more time analyzing my own investment hits and misses over the years with real estate, limited partnerships, and stocks, I realize it would have behooved me to read this book a few years earlier and applied some of his advise. The general trend has been up, though, not nearly as remarkably as Mr. Lynches track record!
March 2, 2020
As a follower of financial history and investing in general, this book is a fun read. I would argue that this book is much better than his hallmark book, One Up on Wall Street. The humor still hold up to this day for me but maybe that is only the case because I am an old timer myself and people of my generation will just brush it as "dad jokes." In this book, Lynch really expounded on how he picks his stocks and shares it with you so you may continue his legacy in the future dominated by index funds and ETFs. I'm not sure if his style of investing still holds up to this day but all of his justifications for choosing a stock just make sense. I can see the similarity on the ways he invest on how Warren Buffet also invest.
September 26, 2014
Great book! It is very simplistic in a lot of ways but lynchs goal is to demystify Wall Street, and I love the voice and personality that comes through. Very interesting book, written by one of the best investors of all time.
July 13, 2015
You will get blown away by Peter Lynch's enthusiasm about stocks and stock-picking. Definitely a must read for any amateur of professional interested or dealing with stocks.
February 25, 2016
If you've already read Learn to Earn(in case you're an amateur like me) and One Up On Wall Street, then there's not really much new in this for you. You can simply skip this one.
September 23, 2019
All the usual stuff about index funds and risk management. Overall okay. Some points on valuation and popularity of the industry was interesting.
October 7, 2020
A good read for fundamental equity investors
- good examples of real companies
- some learnings are still very applicable today
- good materials for individual investors
- good examples of real companies
- some learnings are still very applicable today
- good materials for individual investors
December 13, 2020
A classic. Does however seem a bit outdated today, but a classic nonetheless.
July 16, 2021
Cuốn sách viết bởi 1 huyền thoại quản lý quỹ với hiệu suất đầu tư >20%/năm trong hơn 20 năm.
Nhìn chung, lời khuyên của Peter Lynch gói gọn trong việc hãy đầu tư cổ phiếu thay vì trái phiếu, hiểu rõ tình hình kinh doanh của doanh nghiệp mà mình nắm giữ(đặc biệt là bảng cân đối kế toán), và né xa các đợt bán tháo của thị trường.
Nhiều góc nhìn phân tích doanh nghiệp khá hay, được đúc kết bằng những “khẩu quyết” đơn giản. Có dịp sẽ áp dụng vào vào danh mục của mình.
“Tránh xa cổ phiếu của những công ty nóng thuộc lĩnh vực nóng. Những công ty lớn trong những ngành nghề ít sôi động, không phát triển luôn là những công ty thắng lớn”
“Với những công ty nhỏ, tốt nhất nên đợi cho công ty ăn nên làm ra trước khi đầu tư vào”
“Nếu bạn có ý định đầu tư vào một ngành nghề đang gặp khó khăn, hãy mua cổ phiếu công ty có khả năng vượt qua thử thách. Đồng thời, phải đợi khi ngành nghề đó có dấu hiệu phục hồi”
Nhìn chung, lời khuyên của Peter Lynch gói gọn trong việc hãy đầu tư cổ phiếu thay vì trái phiếu, hiểu rõ tình hình kinh doanh của doanh nghiệp mà mình nắm giữ(đặc biệt là bảng cân đối kế toán), và né xa các đợt bán tháo của thị trường.
Nhiều góc nhìn phân tích doanh nghiệp khá hay, được đúc kết bằng những “khẩu quyết” đơn giản. Có dịp sẽ áp dụng vào vào danh mục của mình.
“Tránh xa cổ phiếu của những công ty nóng thuộc lĩnh vực nóng. Những công ty lớn trong những ngành nghề ít sôi động, không phát triển luôn là những công ty thắng lớn”
“Với những công ty nhỏ, tốt nhất nên đợi cho công ty ăn nên làm ra trước khi đầu tư vào”
“Nếu bạn có ý định đầu tư vào một ngành nghề đang gặp khó khăn, hãy mua cổ phiếu công ty có khả năng vượt qua thử thách. Đồng thời, phải đợi khi ngành nghề đó có dấu hiệu phục hồi”
January 12, 2025
Peter Lynch bu kitabında borsayı nasıl yendiğini, hangi şirketlere neden yatırım yaptığını açıklamış. ABD'deki şirketleri bilen biri için çok öğretici bir kitap olabilir. Bu şirketleri bilmeyen kişiler için de kitabın öğretici boyutları var çünkü yazar şirketlerin sektörleriyle ilgili dinamiklerini, benzer şirketlerde dikkat edilmesi gereken noktaları vs. açıklamış. Yine de şirketleri bilmeyince bu açıklamaların etkisi azalıyor. Buna ek olarak, kitapta bol bol fiyatların, getiri oranlarının vs sıralanmış olması da kitabı okumayı zorlaştırıyor. Bugün bakarken hiç bilmediğiniz bir şirketin 86 yılındaki, 92 yılındaki fiyatları vs size gereksiz görünüyor. Neyse ki ara ara Peter Lynch zamansız ve değerli tavsiyelerini de sıralamış ki kitabı boşuna okuyorum demiyorsunuz. Sonuç olarak, bence mutlaka okunması gereken bir kitap değil ama okunduğunda bazı faydaları olabilir.
October 7, 2021
A good book that gave a comprehensive overview about the basics of investing in the stock market. It teaches you the basic lingo of wallstreet and makes it understandable for the average reader. This is a book that I would highly recommend to anyone that is trying to make his first steps in the stock investing world!
November 15, 2020
Uzun vadeli, potansiyel görülen şirketlere akıllıca yatırımın ne büyük kazançlar sağlayacağını örneklerle gösteren enfes bir kitap.
January 28, 2020
If you read my review of the previous and most famous book of this author, One Up On Wall Street: How to Use What You Already Know to Make Money in the Market, you may know that I am a complete fan of him and his empowering message not just for people who like the investing world, but for everyone. Honest, direct and approachable he delivers a consistent message which makes the reader wiser not matter the age or wealth he/she has.
However, although having the author in high regard, I was expecting a subpar book with this one. As I should have told myself, I was completely wrong. Even though I would not say this book is better than the previous one, as it was the one that made me fall in love with this subject, it is by far more complete, and its tips and lessons are more hands-on, providing clear and concise analysis the average Joe can perfectly understand to try to apply on its own investing path.
Such a great book, I will not stop recommending both these books to anyone interested in learning more about finance and investing, but especially to those who regard the stock market with fear or greed. Dear Peter Lynch, henceforth you are on my Olympus of mentors.
However, although having the author in high regard, I was expecting a subpar book with this one. As I should have told myself, I was completely wrong. Even though I would not say this book is better than the previous one, as it was the one that made me fall in love with this subject, it is by far more complete, and its tips and lessons are more hands-on, providing clear and concise analysis the average Joe can perfectly understand to try to apply on its own investing path.
Such a great book, I will not stop recommending both these books to anyone interested in learning more about finance and investing, but especially to those who regard the stock market with fear or greed. Dear Peter Lynch, henceforth you are on my Olympus of mentors.
March 2, 2025
Must read specifically if you are suffering losses in this bear market.
I truly wish, someone who has managed fund at large scale, in India, come up with a book like this, where, he shares his journey over the years using real life examples.
I truly wish, someone who has managed fund at large scale, in India, come up with a book like this, where, he shares his journey over the years using real life examples.
November 5, 2019
Overall, really easy to read, enjoyable book to understand the thinking of a brilliant investor like Peter Lynch.
Key takeaway from this book was a lot of Lynch’s philosophy of choosing undervalued stocks based on really simple business logic beyond numbers, something that probably should be more heavily emphasised in the financial world today.
May be a bit technical when it comes to financial ratios and analysis, but understandable even for new investors.
Key takeaway from this book was a lot of Lynch’s philosophy of choosing undervalued stocks based on really simple business logic beyond numbers, something that probably should be more heavily emphasised in the financial world today.
May be a bit technical when it comes to financial ratios and analysis, but understandable even for new investors.
July 15, 2023
I picked up this book because, although I enjoy finance deeply, my perspective is largely biased to one particular methodology. The methodology present in this book runs contrary to what I personally believe about finance and stock-picking.
I did not enjoy this book at all; as a matter of fact, the book is much longer than 181 pages, but that is as far as I got before saying that I am wasting my time. I didn’t know exactly what to expect when reading this, but I was hoping that Lynch might walk through some of the legitimate analysis that he uses to picks stocks, but in reality it just seemed like this was Lynch’s opportunity to brag about the stocks that he picked. It isn’t a book to learn “The Lynch Way” as much as it is just a book where he justifies all of the stocks that he picked over the years. The worst part about it is that the book was written 25 years ago, and none of the information is very applicable today and many of the companies mentioned are no longer around.
Lynch has obviously been very successful, and maybe he has some special “sauce” that makes him the real deal, but I really couldn’t pull anything from the pages of this book that will help me in the future with outpacing the market.
I did not enjoy this book at all; as a matter of fact, the book is much longer than 181 pages, but that is as far as I got before saying that I am wasting my time. I didn’t know exactly what to expect when reading this, but I was hoping that Lynch might walk through some of the legitimate analysis that he uses to picks stocks, but in reality it just seemed like this was Lynch’s opportunity to brag about the stocks that he picked. It isn’t a book to learn “The Lynch Way” as much as it is just a book where he justifies all of the stocks that he picked over the years. The worst part about it is that the book was written 25 years ago, and none of the information is very applicable today and many of the companies mentioned are no longer around.
Lynch has obviously been very successful, and maybe he has some special “sauce” that makes him the real deal, but I really couldn’t pull anything from the pages of this book that will help me in the future with outpacing the market.
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August 2, 2011What I learned from this book is that to beat the street (meaning, earning a greater return than the average mutual fund or the S&P 500) you have to work harder than the street. To find one good stock you're going to have to research 10 stocks. That the only way to know which are the best stocks to own is to research and know every company selling stock in the world! Basically, that it's just plain hard work, because you are looking for stocks that the market has underpriced, either due to lack of research or to over/understating the risk of the stock.
January 23, 2016
Readability 7. Rating 6. I am making this entry and the next significantly after the fact. This one, however, is pretty straightforward. Lynch again takes us through his stockpicking methodology. He reviews how he picked stocks for the Barron's roundtable. Most valuable are his description of sector techniques, including utilities and thrifts, as well as more on retail firms. I also like the fact that he put in writing the prices for all of his picks at the time he made them. No fear.
This entire review has been hidden because of spoilers.
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