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Thoughts From Literature — November 2022
One up on Wall Street by Peter Lynch
Not much of an intro this month. November was busy, December will be a crunch. Still making time to smell the flowers but they're all frozen by me.
Summary
Peter Lynch is a legendary investor. He’s up there with Warren Buffett as one of the greatest of the 20th century. He is known for being the manager of the Magellan Fund at Fidelity.
As the manager of the Magellan Fund between 1977 and 1990, Lynch averaged a 29% annual return, more than double the S&P 500 and making it the best-performing mutual fund in the world. During his tenure, assets under management increased from $18 million to $14 billion.
His book is written for the average investor. Lynch explains the key to making money in the stock market is sticking with what you know. Instead of investing in high-tech companies that you read about online, look into what you know. That could be a new store that opened up near you or a system or vendor your company recently started working with.
Value can be found in everyday life before professional investors get a hold of it.
There were numerous concepts from Lynch’s book that are helpful for investing, and even some that can be applied to other facets of…
