One Up on Wall Street

Title: One Up On Wall Street

Author: Peter Lynch - with John Rothchild

Editor: Simon & Schuster

Year: 2000

Year of first edition: 1989

Rating: 4 / 5

Amazon Link:

Main topic: How to use what you already know to make money in the Market.

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About The Author

Peter Lynch is an American investor, mutual fund manager, and philanthropist. As the manager of the Magellan Fund at Fidelity Investments between 1977 and 1990, Lynch averaged a 29.2% annual return, consistently more than doubling the S&P 500 stock market index and making it the best-performing mutual fund in the world. During his 13 year tenure, assets under management increased from US$18 million to $14 billion.

Lynch is consistently described as a "legend" by the financial media for his performance record and was called "legendary" by Jason Zweig in his 2003 update of Benjamin Graham's book, The Intelligent Investor.

John Harmon Rothchild (May 13, 1945 – December 27, 2019) was a freelance writer specializing in financial matters. He authored or co-authored more than a dozen books on finance and investing, and served as an editor of Washington Monthly as well as a columnist for Time and Fortune. [1]

Summary:

With more than one million copies sold, this book is considered one of the most valuable books on investing, in which the famous mutual-fund manager Peter Lynch explains the advantages that average investors could have over professionals and how they could use these advantages to achieve their financial success.

The author tells how average investors can beat the professionals by using what they usually know. According to Lynch, investment opportunities are everywhere. From the workplace to the shopping center, we encounter services and products all day long. By paying attention to the best ones, the investor can find companies in which to invest before the professional investors discover them. When investors get in early, they can find stocks that could appreciate tenfold from the initial investment and make the change.

Lynch describes how he came about developing his strategy for success and offers easy-to-follow advice to find opportunities by reviewing a company’s financial statements and knowing which numbers to observe. By talking about his past, his failures, and his great victories, in an easy to read way, he offers guidelines for investing in what he calls cyclical, turnaround, and fast-growing companies.

For that reason, this is a very helpful book for those who want to gain some basic knowledge about how the stock market works and how to select the best portfolio of securities. 

From our point of view, One Up on Wall Street provides a great overall foundation for investing and it will be very educational for anybody wanting to get involved in the stock market.

Thanks to this book, the reader will be able to:

  • know what he owns,

  • take advantage of what he already knows,

  • research before buying,

  • look for potential opportunities,

  • put stocks in categories,

  • avoid hot stocks in hot industries,

  • ignore short term fluctuations,

  • give due weight to judgment,

  • improve the way he makes investing decisions.

We believe the author's advice is effective and the book deserves to be purchased to be read at least once a year.

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[1] Source on authors biography: Wikipedia

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