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Book Title: Beating the Street : How to Use What You Already Know to Make Money in the Market|
The author of the book: Peter Lynch
ISBN 13: 9780671864989
Format files: PDF
The size of the: 25.62 MB
Edition: Sound Ideas
Date of issue: July 1st 2004
Read full description of the books Beating the Street : How to Use What You Already Know to Make Money in the Market:During the thirteen years Peter Lynch was the manager of the Fidelity Magellan Fund until his retirement in 1990, Magellan was the top-ranked general equity mutual fund. An investment of $1,000 in Magellan in 1977 was worth $28,000 in 1990. Time called Lynch the nation's "#1 money manager." Now Peter Lynch shows investors how he puts his investing philosophy and techniques into action as he takes readers step-by-step through the process of selecting the stocks he recommended at the 1992 Barron's Roundtable. (And he describes how he followed these companies through most of the year to see how their stories unfolded and tells us whether, at the end of nine months, he recommended the reader buy, sell, or hold the stocks.). Lynch also examines his years at the Magellan Fund, analyzing the reasons why he outperformed all other fund managers. He discloses that it was a small number of major success stories ("10-baggers") that were the principal reason for the fund's superior record. He draws a lesson for the average investor: there are good companies looking for investors, and it takes only one or two good companies a decade to turn a portfolio from an average performer into a winner. Finally, in what may be the most valuable section of the book, Lynch offers advice on devising a mutual-fund strategy. Not surprisingly, he believes that the key to any mutual-fund portfolio is stocks, not bonds, and he recommends a mix of growth funds, value funds, and blue-chip funds. He explains how to adjust new investments among these different types of funds. Beating the Street also tells the wonderful story of a group of seventh graders who, following Lynch's advice to invest in what they knew,outperformed nearly every fund manager on Wall Street.
Read information about the authorPeter 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.
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