If my memory serves me correctly, “One Up on Wall Street” was the first investment book I ever read. To this day, it remains among my favorites. In the book, Peter Lynch consolidates his investment philosophy (with countless examples) into a few hundred pages; it’s a great “how to” book for starters, while at the same time a good reference book for more experienced investors. Considering that Mr. Lynch managed the best performing fund in the world during his 13-year career (Fidelity Magellan Fund from May 1977 to May 1990), he’s worth listening to.
In “One Up on Wall Street,” Mr. Lynch lists 13 attributes that he looks for in the perfect stock. I’m going to add some commentary on the few points where I think I have something useful to say (or even better for you, quote Mr. Lynch directly). With that, let’s get started: Continue Reading »