Peter Lynch is one of the greatest fund managers ever. Though, it’s been over two decades since he managed money, the lessons he learned are timeless.
He ran the Fidelity Magellan Fund from 1977 to 1990. During that time he beat the pants off the market. He beat the S&P 500 11 of 13 years he managed the fund. He averaged a 29% annual return during that time. From start to finish, that’s a 2700% return!
Lynch documented his experience in two books: One Up on Wall Street and Beating the Street. Both are on my recommended reading list. The lessons you’ll take away from both books far exceeds the ten below. You’ll have to find out the rest on your own.
10. There is always something to worry about.
Every day brings something different to worry about – inflation, recession, depression, natural disaster, war, market crash, and that bus when you cross the street. In the last 100 years, the market has seen it all and recovered. You can wait for the sky to fall or you can invest knowing it will happen, you’ll get through it, and the market will too. Continue Reading…