Peter Lynch is America’s number-one money manager. His mantra: Average
investors can become experts in their own field and can pick winning stocks as
effectively as Wall Street professionals by doing just a little research.
Now, in a new introduction written specifically for this edition of One Up on
Wall Street, Lynch gives his take on the incredible rise of Internet stocks, as well
as a list of twenty winning companies of high-tech ’90s. That many of these
winners are low-tech supports his thesis that amateur investors can continue to
reap exceptional rewards from mundane, easy-to-understand companies they
encounter in their daily lives.
Investment opportunities abound for the layperson, Lynch says. By simply
observing business developments and taking notice of your immediate world—
from the mall to the workplace—you can discover potentially successful
companies before professional analysts do. This jump on the experts is what
produces “tenbaggers,” the stocks that appreciate tenfold or more and turn an
average stock portfolio into a star performer.
The former star manager of Fidelity’s multibillion-dollar Magellan Fund,
Lynch reveals how he achieved his spectacular record. Writing with John
Rothchild, Lynch offers easy-to-follow directions for sorting out the long shots
from the no shots by reviewing a company’s financial statements and by
identifying which numbers really count. He explains how to stalk tenbaggers and
lays out the guidelines for investing in cyclical, turnaround, and fast-growing
Lynch promises that if you ignore the ups and downs of the market and the
endless speculation about interest rates, in the long term (anywhere from five to
fifteen years) your portfolio will reward you. This advice has proved to be
timeless and has made One Up on Wall Street a number-one bestseller. And now
this classic is as valuable in the new millennium as ever.
PETER LYNCH is vice chairman of Fidelity Management & Research Company
—the investment advisor arm of Fidelity Investments—and a member of the
Board of Trustees of the Fidelity funds. Mr. Lynch was portfolio manager of
Fidelity Magellan Fund, which was the best performing fund in the world under
his leadership from May 1977 to May 1990. He is the co-author of the
bestselling Beating the Street and Learn to Earn, a beginner’s guide to the basics
of investing and business. He lives in the Boston area.
JOHN ROTHCHILD has written for Time, Fortune, Worth, and The New York
Times Book Review. The author of A Fool and His Money and Going for Broke, he
is also the co-author, with Peter Lynch, of Beating the Street and Learn to Earn.
He lives in Miami Beach, Florida.
Cover design by Tom Lau
Cover photograph by Sigrid Estrada
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