One Up On Wall Street: How To Use What You Already Know To Make Money In The Market

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A major division that contributes 25 percent of earnings is vulnerable to an economic slump that's taking place (housing, oil drilling, etc) Warren Buffett on newspapers and TV stations that dominated major markets, beginning with the Washington Post.

Look for opportunities that haven't yet been discovered and certified by Wall Street - companies that are "off the radar scope." Remember the Street Lag.

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PDF / EPUB File Name: One_Up_on_Wall_Street__How_to_Use_What_You_-_Peter_Lynch.pdf, One_Up_on_Wall_Street__How_to_Use_What_You_-_Peter_Lynch.epub Peter Lynch ได้เล่าว่า คุณสมบัติควรรวมถึงความอดทน และ ทนต่อความเจ็บปวด พึ่งตนเอง ใจที่เปิดกว้างไม่ยึดติด ยอมรับความผิดพลาด และไม่สนใจความแตกตื่นของคนอื่นๆ ต้องสามารถตัดสินใจโดยปราศจากข้อมูลที่สมบูรณ์ เพราะไม่มีอะไรแน่นอน ในวอลสตรีท ด้วยความคิดแบบวิทยาศาสตร์ที่จะต้องรู้ข้อมูลทั้งหมด อาจพ่ายแพ้ ส่วนที่ 2 New products introduced in the last two years have had mixed results, others still in testing stage are a year away from the marketplace. While this is a good read, it's specific to Peter Lynch's personal investing style and dated enough that it's not entirely applicable anymore, so it is better read as a history or biography of Lynch's investing style than a guide on how to make personal investment decisions today. There's a forward written in 2000 in which Lynch provides one update to his material, but there should have been many more (such as noting what kinds of company information is no longer allowed to be provided only to individuals). In addition, Lynch's poor grasp of basic computer knowledge is embarrassing, even for 2000. Although you can get extremely similar advice from other sources (Lynch is a value investor straight out of The Intelligent Investor, much like Warren Buffett), the advice is still good where you get it:

Understanding which businesses are growing and which companies offer better products than the competition and industry insiders also recommends. It's often said a bull market must scale a wall of worry, and the worries never cease. Lately we've worried our way through various catastrophic "unthinkables": World War III, biological Armageddon, rogue nukes, the melting of the polar ice caps, a meteor crashing into the earth, and so on. Meanwhile we've witnessed several beneficial "unthinkables": communism falls; federal and state governments in the United States run budget surpluses; America creates seventeen million new jobs in the 1990s, more than making up for the highly publicized "downsizing" of big companies. The downsizing caused disruption and heartache to the recipients of the pink slips, but it also freed up millions of workers to move into exciting and productive jobs in fast-growing small companies. Kitabı yazdığı seksenli yıllarda 9 milyar dolara çıkmış bir fonu yönetmiş Peter Lynch, döneminin en çok kazandıran fonlarından birinin yöneticisi olmuş. Tecrübelerini sokaktaki adama bu işin kumar olmad��ğını ve nasıl bir strateji izlenirse başarılı olabileceğini, özellikle kişinin kendi çalıştığı ya da her gün nasıl iş yapıldığını gözlemle fırsatı bulduğu sektörleri seçmesinin yaratacağı avantajlarla birlikte anlatıyor. Genelde çok daha bilinmeyen, moda, son teknolojik, eğlenceli işlere yatırım yapma eğilimi var. Kendimden biliyorum. :) Bunlar yorum kabiliyetini de kısıtlıyor. Zaten -diyelim- bilmiyorsun sektörü, nereye gidecek, ne olacak. Bunun yerine kendin yorumlayabileceğin mümkünse sıkıcı sektörlere bir yönlendirme... No Name ก็ยังไม่สามารถซื้อได้ หากซื้อแล้วเกิดปัญหา มันก็จะกลายเป็นว่าหาเรื่องใส่ตัว ระหว่างโอกาสในการทำกำไรงามจากหุ้นเล็กๆ ทำกำไรจากบริษัทที่ยังไม่ค่อยมีใครรู้จัก กับการลงทุนในบริษัทโด่งดังและมั่นคง ทุกคนรู้จัก นักลงทุนมืออาชีพมักจะเลือกลงทุนอย่างหลัง เพราะความสำเร็จในหน้าที่การงานก็เป็นอย่างหนึ่ง แต่ความล้มเหลว(ขาดทุน) นั้นจะทำให้มืออาชีพเสียชื่อ และตกงานหมดอนาคตในเส้นทางได้ ดังนั้น จึงทำให้เหล่าผู้บริหารกองทุน เลือกหุ้นกลุ่มที่เป็น Safe zone จึงไม่แปลกใจที่ผู้จัดการกองทุนหลายๆแห่ง มักทำผลงานไม่ได้ดีเด่นอะไร What the growth rate in earnings has been in recent years. Is it slowing down (5 new motels last year and 3 this year) or speeding up (3 last year and 5 this year)?

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Lynch, P. (1989). One Up On Wall Street: How to Use What You Already Know to Make Money in the Market. First Fireside Edition. New York: Simon & Schuster. Instead of investing in computer companies that struggle to survive in an endless price war, why not invest in a company that benefits from the price war - such as Automatic Data Processing? As computers get cheaper, Automatic Data can do its job cheaper and thus increase its own profits. From my experience, fast growers tend to sell at a premium. One thing that I look out for when analyzing fast growers is the PEG ratio. I use it when I look at a fast-growing company with a high PE (price to earnings ratio). After separating them , he goes on explaining what to expect from that category and what indices really matter on the financial statements.

Sometimes there are inefficiencies in the holdings relationships. e.g. A holds 25% of B, but B's value alone is more than A market cap, then you can buy A. The flaw is that the stated book value often bears little relationship to the actual worth of the company. If often understates or overstates reality by a large margin.

Falling commodity prices, usually prices of oil, steel, etc., will turn down several months before the troubles show up in the earnings. If you find a business that can get away with raising prices year after year without losing customers (an addictive product such as cigarettes fills the bill), you've got a terrific investment. Bahsettiği konularda Buffett ve Fisher okurken de denk geldiğim birçok kısım oldu. Aklın yolu bir diyeceğim ama yazar özellikle zekanın bu iş için önemsiz olduğunu vurguluyor. Buffett’ın stratejisi de benzer şekilde yöntemlerinin ne kadar basit olduğunu gözünüze sokuyordu. Bu noktada bunlara hakim olduktan sonra sanırım işin psikolojik boyutu - irade önem kazanıyor. Yavaştan listemizdeki bu kitaplara doğru kaymakta fayda var. :) Pension plans: these are obligations the companies agree to pay; therefore, they should be seen as debt. Pay attention specifically to it on turnarounds.