He bought more stocks bring the total number of stocks to more than 150 and the asset value continued going up. In 1977, he took over the Fidelity Magellan fund when it had 20 million in assets and 40 stocks. He returned to Fidelity as a permanent employee and research analyst. After graduating, he served in the Army in Korea and missed the stock market while he was there. As an intern with no background in finance or accounting, he was put to work in researching companies and writing reports.Īt Wharton, he met his wife Caroline. Sullivan, the President, who he met at the golf course. He applied for an internship at Fidelity at the suggestion of Mr. In less than two years, the stock was a five-bagger and he sold some of it to pay for graduate school at Wharton. He bought his first stock when he was a sophomore in college – Tiger Flying Airlines. In retrospect, Lynch fees that studying history and philosophy prepared him to be a better stock investor because investing is an art, not a science. Stock tips were also frequently discussed during rounds of golf and Lynch paid close attention to them.Īt Boston College, Lynch mostly avoid math, science, and accounting and focused on art subjects such as history, psychology, and political science. Since there were a lot of CEOs of big corporations playing golf at exclusive clubs, Lynch figured that the best way to learn the board room was through the locker rooms of these clubs. Lynch also found a part-time job at 11 as a caddy.

Lynch lost his father when he was seven, which forced his mother to go to work. Almost all of Lynch’s relatives distrusted the stock market, partly due to growing up during the Great Depression. Your genes don’t determine whether you are a good stock picker. You will find 10 and 20-baggers before any Wall Street firm.

Find out if these companies are public and research them. As you go about your daily life, look out for stores that are expanding rapidly or products you start seeing everywhere. If the amateur investor can make use of these advantages, he can easily beat the professional money managers. The amateur investor has a number of advantages compared to the so-called experts. Chapter 20: 50,000 Frenchmen Can Be Wrong Book Summary – One Up On Wall Street Advantages of dumb moneyĭon’t listen to professionals.Chapter 19: Options, Futures, And Shorts.

Chapter 18: The Twelve Silliest (and most dangerous) Things People Say About Stock Prices.Chapter 10: Earnings, Earnings, Earnings.Chapter 8: The Perfect Stock, What a Deal.Chapter 7: I’ve Got It, I’ve Got It – What is it?.Chapter 5: Is this a Good Market? Please Don’t Ask.

Lynch one up on wall street