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Berkshire Hathaway Inc. Message Board

  • dickeypiper1 dickeypiper1 Dec 26, 2009 9:25 AM Flag

    Peter Lynch

    from "Beating the Street" (1993). Here are two of Lynch's "20 Golden Rules."

    "Often, there is no correlation between the success of a company's operations and the success of its stock over a few months or even a few years. In the long-term, there is a 100 percent correlation between the success of the company and the success of its stock. The disparity is the key to making money; it pays to be patient, and to own successful companies."

    "Nobody can predict interest rates, the future direction of the economy or the stock market. Dismiss all such forecasts and concentrate on what's actually happening to the companies in which you've invested."

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    • Lynch's books are classics. Bear in mind, however, that his great run with the Fidelity Magellan Fund took place in one of the most bullish periods of time to have beem an investor in equities, and in particular, big cap stocks such as those stocks he was buying. Also remember that Magellan had a portfolio that sometimes owned hundreds of stocks. Not the way anyone is going to substantially outperform Mr. Market today, if that is even an appropriate benchmark.

      Anyone know how Peter Lynch has performed in the last 10 years or whether his performance record is even published?

    • << In the long-term, >>

      thanks good stuff, how does he define, long term ? Can you site the 20 rules ?

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