In his speeches, the Wall Street guru says that the secret to his success is his ability to "think like an amateur." He offers a common-sense approach to stock picking: Know "everything about a company before buying a stock, then follow the story after buying the stock." He says, "Don't sell the stock if the story is still good whether the market is up or down."
The Fundamentals of Investing
Peter Lynch is the legendary stock picker who from 1977-1990 managed the Fidelity Magellan Fund, the best performer in mutual funds over that period. He is currently vice-chairman at Fidelity.
As the most famous mutual fund manager in the world, Lynch was able to achieve an average annual return of 29% during his reign over Magellan. Often described as a chameleon, he adapted to whatever investment style worked at the time. He was one of the first to uncover hidden gems such as Dunkin' Donuts, Pier 1 Imports and Taco Bell.
Lynch wins praise from his audiences for simplifying the overwhelming world of picking stocks. He explains the game in clear and simple terms, and he has proven that his techniques work for the major players on Wall Street.