Audio, Trading, Stocks, Strategy, Investment, Manager, Books, Peter Lynch

Peter Lynch – Beating the Street 

Develop a Winning Investment Strategy-with Expert Advice from “The Nation’s #1 Money Manager.” Peter Lynch’s “invest in what you know” strategy has made him a household name with investors both big and small.

An important key to investing, Lynch says, is to remember that stocks are not lottery tickets. There’s a company behind every stock and reason companies and their stocks perform the way they do. In this book, Peter Lynch shows you how you can become an expert in a company and how you can build a profitable investment portfolio, based on your own experience and insights and on straightforward do-it-yourself research.

Let me anticipate some of the criticisms of the St. Agnes results that are sure to come from the professional ranks. (1) “This isn’t real money.” True, but so what? Anyway, the pros ought to be relieved that St. Agnes isn’t working with real money — otherwise, based on St. Agnes’s performance, billions of dollars might be pulled from the regular mutual funds and turned over to the kids. (2) “Anybody could have picked those stocks.” If so, why didn’t anybody? (3) “The kids got lucky with a bunch of their favorite picks.” Perhaps, but some of the smaller portfolios chosen by the four-person teams in Ms. Morrissey’s class did as well as or better than the model portfolio selected by the class at large. The winning foursome in 1990 (Andrew Castiglioni, Greg Bialach, Paul Knisell, and Matt Keating) picked the following stocks for the reasons noted:

  • 100 shares of Disney (“Every kid can explain this one.”)
  • 100 shares of Kellogg (“They liked the product.”)
  • 300 shares of Topps (“Who doesn’t trade baseball cards?”)
  • 200 shares of McDonald’s (“People have to eat.”)
  • 100 shares of Wal-Mart (“A remarkable growth spurt.”)
  • 100 shares of Savannah Foods (“They got it from Investor’s Daily.”)
  • 5,000 shares of Jiffy Lube (“cheap at the time.”)
  • 600 shares of Hasbro (“it’s a toy company, isn’t it?”)
  • 1,000 shares of Tyco Toys (ditto.)
  • 100 shares of IBM (“premature adulthood.”)
  • 600 shares of National Pizza (“nobody can turn down a pizza.”)
  • 1,000 shares of Bank of New England (“how low could it go?”)

Author

Peter Lynch managed the Fidelity Magellan Fund from 1977 to 1990 when it was one of the most successful mutual funds of all time. He then became a vice chairman at Fidelity and more recently has become a prominent philanthropist particularly active in the Boston area. His books include One Up on Wall StreetBeating the Street, and Learn to Earn (all written by John Rothchild).

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