Peter Lynch's Winning Investments
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Description
Book Introduction
The legend of the world's largest mutual fund with a return of 2,510%
Peter Lynch's Experience on Successful Investment
Peter Lynch grew the Magellan Fund into the world's largest mutual fund over a 13-year period from 1977 to 1990, and never recorded a single year of negative returns while managing the fund.
And as an investor, he has experienced both stock market booms and busts.
That's why I know even better how to react when stock prices rise and fall.
This book is the latest revised edition of Peter Lynch's Winning Investments, and contains all of the investment guidance that Peter Lynch wanted to convey to amateur investors.
In this book, Peter Lynch shows the Magellan Fund's management process as it is.
He also revealed his mistakes without reservation.
He divides the period of directly reporting on and researching companies into the early, middle, and late stages, and presents in detail and humor the 21 stock discovery ideas mentioned in the American business magazine Barron's, the results, and the insights honed through his own experience.
His vivid experience helps investors identify companies to invest in, clarify their reasons for selecting these stocks, and thoroughly understand how to regularly monitor changes in the company.
So, just by reading this book, you will feel yourself naturally acquiring your own unique stock investment method, which will help you find your own feel for how to invest as an investor.
Peter Lynch's Experience on Successful Investment
Peter Lynch grew the Magellan Fund into the world's largest mutual fund over a 13-year period from 1977 to 1990, and never recorded a single year of negative returns while managing the fund.
And as an investor, he has experienced both stock market booms and busts.
That's why I know even better how to react when stock prices rise and fall.
This book is the latest revised edition of Peter Lynch's Winning Investments, and contains all of the investment guidance that Peter Lynch wanted to convey to amateur investors.
In this book, Peter Lynch shows the Magellan Fund's management process as it is.
He also revealed his mistakes without reservation.
He divides the period of directly reporting on and researching companies into the early, middle, and late stages, and presents in detail and humor the 21 stock discovery ideas mentioned in the American business magazine Barron's, the results, and the insights honed through his own experience.
His vivid experience helps investors identify companies to invest in, clarify their reasons for selecting these stocks, and thoroughly understand how to regularly monitor changes in the company.
So, just by reading this book, you will feel yourself naturally acquiring your own unique stock investment method, which will help you find your own feel for how to invest as an investor.
- You can preview some of the book's contents.
Preview
index
Featured Article | The Investment Heroes of Peter Lynch, the Man Who Crazed About Stocks
Acknowledgements
Introduction | Leaving Fidelity
Preface to the Popular Edition | Three Misconceptions
Prologue | Escape from Bonds
Chapter 1: The Miracle of St. Agnes School | A Home Run Hit with Common Sense
Chapter 2: Weekend Worry Syndrome | How to Never Miss an Opportunity
Chapter 3: How to Develop a Fund Investment Strategy
Chapter 4: The Early Days of the Magellan Fund | Stock Investment Methodology from Experience
Chapter 5: The Magellan Fund's Mid-Term | Coverage, Footwork, and Dedication
Chapter 6: Magellan Fund Review | Black Monday, the Gift of Passion
Chapter 7: Art, Science, and Exploration | Finding Items
Chapter 8: Enjoyable Stock Shopping, Distribution Industry
Chapter 9: Looking Ahead from Bad News
Chapter 10: Supercut, a Barbershop Chain | Cutting Hair from the Head
Chapter 11: Great Companies Found in Low-Growth Industries | Desert Flowers
Chapter 12: Fantastic Investments | Like the Moon Out of the Clouds
Chapter 13: Digging Deeper into S&L
Chapter 14: The Appeal of Listed Limited Partnerships
Chapter 15: Risks and Opportunities of Business Cycles
Chapter 16: The Power Company in Trouble
Chapter 17: Warehouse Sales of Privatized Companies
Chapter 18: My Fannie Mae Investment Journal
Chapter 19: Backyard Treasures: Mutual Funds
Chapter 20: Where Your Taste Takes You: Restaurant Stocks
Chapter 21: Six-Monthly Review | Concluding After Confirming Management Changes
25 Golden Rules of Investing
Peter Lynch's Principles
Epilogue | Additional Review
Translator's Note | Your Unchanging Investment Partner
Detailed image
Into the book
People spend weeks figuring out how to maximize their airline miles and trying to plan their travel itineraries efficiently, yet when it comes to investing in stocks, they're quick to drop $10,000 on companies they know nothing about.
The entire investment process is unplanned and flawed in its very concept.
One thing I would like to point out as particularly wrong is the type of person who invests only based on their own feelings and continues to suffer losses.
These people buy IBM at $100 a share simply because it has been underperforming and it is time for it to go up, and they easily buy biotech stocks just because they hear from people around them that they are doing well.
--- p.26
On Black Monday in 1987, the Dow Jones Industrial Average fell 508 points in just one day.
Investment experts unanimously predicted the worst.
However, the 508-point drop in one day, followed by a 1,000-point plunge from its previous high (a 33% drop from its August peak), did not lead to the catastrophe many feared.
The stock market crash, while severe, was a routine correction and only the most recent of 13 crashes in which stock prices fell by 33% or more since the beginning of the 20th century.
--- p.82
Stocks and stock funds have one thing in common.
The only way to make a profit is to 'hold for the long term'.
It takes strong willpower to hold on to something for the long term.
For those who are afraid of losing money and are avoiding the stock market, stock funds are not the solution.
It is common for stock funds that have performed quite well to fall more than the market average when the stock market declines.
During the time I was managing the Magellan Fund, there were nine instances where the stock price fell by an average of 10%, and on those occasions, the Magellan Fund fell even more.
But when the market rebounded, it rose even more sharply.
p.103
If you like a company's stores, you're likely to love its stock.
When people have similar tastes in food and fashion, the culture itself becomes boring, but the people who own the retailers and restaurant chains become very rich.
What sells well in one area guarantees that it will sell well in other areas.
This principle applies to everything from donuts and soft drinks to hamburgers, nursing home policies, socks and shorts to women's clothing and gardening equipment.
--- p.270
An investment portfolio comprised of carefully selected stocks should be regularly reviewed and managed.
It is generally recommended to check once every six months.
Even if it's a blue-chip or large-cap stock, the strategy of buying and forgetting about it is unproductive and even dangerous.
A six-monthly checkup isn't just about checking the stock prices of the stocks you've invested in in the newspaper or leaving it to the research and analysis of a securities firm.
As an investor, you should never take anything for granted.
The entire investment process is unplanned and flawed in its very concept.
One thing I would like to point out as particularly wrong is the type of person who invests only based on their own feelings and continues to suffer losses.
These people buy IBM at $100 a share simply because it has been underperforming and it is time for it to go up, and they easily buy biotech stocks just because they hear from people around them that they are doing well.
--- p.26
On Black Monday in 1987, the Dow Jones Industrial Average fell 508 points in just one day.
Investment experts unanimously predicted the worst.
However, the 508-point drop in one day, followed by a 1,000-point plunge from its previous high (a 33% drop from its August peak), did not lead to the catastrophe many feared.
The stock market crash, while severe, was a routine correction and only the most recent of 13 crashes in which stock prices fell by 33% or more since the beginning of the 20th century.
--- p.82
Stocks and stock funds have one thing in common.
The only way to make a profit is to 'hold for the long term'.
It takes strong willpower to hold on to something for the long term.
For those who are afraid of losing money and are avoiding the stock market, stock funds are not the solution.
It is common for stock funds that have performed quite well to fall more than the market average when the stock market declines.
During the time I was managing the Magellan Fund, there were nine instances where the stock price fell by an average of 10%, and on those occasions, the Magellan Fund fell even more.
But when the market rebounded, it rose even more sharply.
p.103
If you like a company's stores, you're likely to love its stock.
When people have similar tastes in food and fashion, the culture itself becomes boring, but the people who own the retailers and restaurant chains become very rich.
What sells well in one area guarantees that it will sell well in other areas.
This principle applies to everything from donuts and soft drinks to hamburgers, nursing home policies, socks and shorts to women's clothing and gardening equipment.
--- p.270
An investment portfolio comprised of carefully selected stocks should be regularly reviewed and managed.
It is generally recommended to check once every six months.
Even if it's a blue-chip or large-cap stock, the strategy of buying and forgetting about it is unproductive and even dangerous.
A six-monthly checkup isn't just about checking the stock prices of the stocks you've invested in in the newspaper or leaving it to the research and analysis of a securities firm.
As an investor, you should never take anything for granted.
--- p.507
Publisher's Review
Common-sense investment methods that anyone can use
Peter Lynch's wisdom remains relevant decades later.
A revised edition of Peter Lynch's Beating the Street, which has been considered an investment classic since its publication, has been published.
In this revised edition, we have improved the design and supplemented the content and sentences to ensure that even those unfamiliar with stock terminology can read it without great difficulty.
The reason this book is still loved by readers around the world is probably because it aims to turn ordinary individual investors into winners.
Peter Lynch's intention in writing this book was to encourage amateur investors not to give up on stock investment, which can be a hobby and allow them to make money.
He said that, based on past experience, he took the stores his daughters frequented as a sign that he should buy them, and that he should not ignore the power of common sense and the extraordinary abilities of ordinary people.
“In every industry and every region, it was individual investors, not professionals, who first identified great growth companies.” “The strength of being an investor doesn’t come from Wall Street experts.
He says that even individuals can experience a home run in the stock market if they have an investor's mindset in their daily lives, even if it's just 5% of what you already have.
Just like the students at St. Agnes School, who are still in their first year of middle school, achieved a 70% return.
The investment methods of students who invested in stocks virtually were simple but faithful to the basics.
"Buy the stocks you know best." Peter Lynch observed this and concluded that amateur investors have a better chance of investing in stocks than professional fund managers.
Fund managers have difficulty conducting detailed corporate analysis because they must sell financial products and generate performance, and tend to rely on information provided by the securities firms they work for.
We are also in an environment where short-term investments are more volatile than long-term investments.
Buying stocks you know well is an investment principle that is easy to say, but difficult to put into practice for many investment experts.
So Peter Lynch says that individual investors can make high profits by taking advantage of this.
An investment record filled with both success stories and mistakes.
Lynch managed the Magellan Fund for 13 years and experienced nine stock market crashes, including Black Monday.
Having experienced both the biggest crash and the biggest boom cycle, the conclusion he came up with as a way to overcome a crash was that you have to 'stay in the market.'
When we feel that it would be better to sell rather than stay in a period of increasing uncertainty due to periodic economic downturns such as Black Monday and the subprime mortgage crisis, and when we want to convert our assets to bonds rather than stocks and to cash rather than securities, Peter Lynch's words strike a chord in our hearts.
“People who prefer bonds don’t know what they’re missing,” he laments, repeatedly pointing out that individual investors are missing out on too much when they invest for safety.
And “Invest as much money as possible in stock funds.
(If you retire) Even if you plan to live off the interest, in the long run, holding dividend stocks and occasionally selling stocks to make up for any shortfall in income is a much better way to become wealthy than investing in bonds and earning interest.”
In addition, it provides clear and easy-to-understand investment methods and strategies for those who find it difficult to invest directly.
Many professional investors consider Peter Lynch their mentor.
This means that Lynch's methodology is the essence of proven investment and is still effective today.
Just as Peter Lynch maintained an optimistic investment attitude throughout his journey to success and occasional failures, I hope this book will serve as a solid investment guide for you on your lonely and difficult journey into the stock market.
GOODS SPECIFICS
- Publication date: December 8, 2021
- Page count, weight, size: 576 pages | 988g | 152*225*35mm
- ISBN13: 9788965964803
- ISBN10: 8965964806
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