If they'd done better on their own in this mother of all bull markets, they wouldn't have migrated to funds to the extent they have. But it also must mean a lot of amateur stockpickers did poorly with their picks. The fund bonanza is okay by me, since I managed a fund. More than $4 trillion of that new wealth is invested in mutual funds, up from $275 billion in 1989. If this keeps up, somebody will write a book called The Billionaire Next Door. The market at large has created $25 trillion in new wealth, which is on display in every city and town. households own stocks or mutual funds, up from 32 percent in 1989. Some rebound! The Dow is up more than fourfold since October, 1990, from the 2,400 level to 11,000 and beyond - the best decade for stocks in the twentieth century. But then the war was won, the banking system survived, and stocks rebounded. Stocks suffered one of their worst declines in recent memory. The country's major banks flirted with insolvency, and a few went belly up. For the moment, the pessimists looked smart. They congratulated me for getting out at the right time - just before the collapse of the great bull market. I left Magellan in May, 1990, and pundits said it was a brilliant move. It's been a remarkable stretch since One Up on Wall Street hit the bookstores in 1989. Who knew it would go through thirty printings and sell more than one million copies? As this latest edition appears eleven years beyond the first, I'm convinced that the same principles that helped me perform well at the Fidelity Magellan Fund still apply to investing in stocks today. This book was written to offer encouragement and basic information to the individual investor. This timeless advice has made One Up on Wall Street a #1 bestseller and a classic book of investment know-how. He offers guidelines for investing in cyclical, turnaround, and fast-growing companies.Īs long as you invest for the long term, Lynch says, your portfolio can reward you. Lynch offers easy-to-follow advice for sorting out the long shots from the no-shots by reviewing a company’s financial statements and knowing which numbers really count. A few tenbaggers will turn an average stock portfolio into a star performer.
When investors get in early, they can find the “tenbaggers,” the stocks that appreciate tenfold from the initial investment.
One up on wall street pdf free professional#
By paying attention to the best ones, we can find companies in which to invest before the professional analysts discover them. From the supermarket to the workplace, we encounter products and services all day long. According to Lynch, investment opportunities are everywhere. More than one million copies have been sold of this seminal book on investing in which legendary mutual-fund manager Peter Lynch explains the advantages that average investors have over professionals and how they can use these advantages to achieve financial success.Īmerica’s most successful money manager tells how average investors can beat the pros by using what they know.