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Inside this Book – There’s no such thing as a hereditary knack for picking stocks. Though many would like to blame their losses on some inbred tragic flaw, believing somehow that others are just born to invest, my own history refutes it. There was no ticker tape above my cradle, nor did I teethe on the stock pages in the precocious way that baby Pelé supposedly bounced a soccer ball. As far as I know, my father never left the pacing area to check on the price of General Motors, nor did my mother ask about the ATT dividend between contractions. Only in hindsight can I report that the Dow Jones industrial average was down on January 19, 1944, the day I was born, and declined further the week I was in the hospital. Though I couldn’t have suspected it then, this was the earliest example of the Lynch Law at work. The Lynch Law, closely related to the Peter Principle, states: Whenever Lynch advances, the market declines. (The latest proof came in the summer of 1987, when just after the publisher and I reached an agreement to produce this book, a high point in my career, the market lost 1,000 points in two months. I’ll think twice before attempting to sell the movie rights.) Most of my relatives distrusted the stock market, and with good reason. My mother was the youngest of seven children, which meant that my aunts and uncles were old enough to have reached adulthood during the Great Depression, and to have had firsthand knowledge of the Crash of ’29. Nobody was recommending stocks around our household.
Inside this book –One Up On Wall Street PDF Book by Peter Lynch – The best place to begin looking for the tenbagger is close to home—if not in the backyard then down at the shopping mall, and especially wherever you happen to work. With most of the tenbaggers already mentioned—Dunkin’ Donuts, The Limited, Subaru, Dreyfus, McDonald’s, Tambrands, and Pep Boys —the first sips of success were apparent at hundreds of locations across the country. The fireman in New England, the customers in central Ohio where Kentucky Fried Chicken first opened up, the mob down at Pic ’N’ Save, all had a chance to say, “This is great; I wonder about the stock,” long before Wall Street got its original clue. The average person comes across a likely prospect two or three times a year— sometimes more. Executives at Pep Boys, clerks at Pep Boys, lawyers and accountants, suppliers of Pep Boys, the firm that did the advertising, sign painters, building contractors for the new stores, and even the people who washed the floors all must have observed Pep Boys’ success. Thousands of potential investors got this “tip,” and that doesn’t even count the hundreds of thousands of customers. At the same time, the Pep Boys employee who buys insurance for the company could have noticed that insurance prices were going up—which is a good sign that the insurance industry is about to turn around—and so maybe he’d consider investing in the insurance suppliers. Or maybe the Pep Boys building contractors noticed that cement prices had firmed, which is good news for the companies that supply cement.
One Up On Wall Street by Peter Lynch PDF : eBook Information
- Full Book Name – One Up On Wall Street
- Author of this Book – Peter Lynch
- Language – English
- Book Genre – Business, Non-Fiction, Self Help, Finance
- Download Format – PDF
- Size – 11.3 MB
- eBook Pages – 322
- Price – Free