Peter Lynch - One Up on Wall Street

In a nutshell (304 pages), this is a book by one of the best money managers ever with a very conversational tone. Lynch ran the famed Magellan fund for years and then found himself in the enviable position of being able to (financially and emotionally) walk away to spend more time with his family and personal priorities. This book is so easy to read that a reader might not realize how useful, actionable, and important the lessons are.

What I got out of it

The first thing I got out of it was the correction on the view that Lynch’s M.O. was to walk around a shopping center with his family then go to his office and buy stock. That's a lot of what he does but there is a ton of research and reasoning between the shopping center purchase and the stock purchase. That’s what the reader will get from the book. He spells out the way he recommends a professional or an amateur should vet a stock before buying. He also advises on what to do when you own a stock, and what to do before selling.

What was difficult

It is such an easy and light-hearted read that a reader may not take it so seriously. He seems to gloss over some important details, but that’s because he glosses over everything. This isn’t a negative because personal finance and the stock market are intimidating enough.

Recommendation

I’ve read this book every 5 years and I always find it useful, and you will too. Go ahead and listen to it in its audio form if you want but get ready to run to a computer because this book will make you think about a company, product or service that maybe you can invest in. This book will help you believe in yourself and I think that makes it a rare gem.