FREE delivery: Wednesday, Dec 7 on orders over $25.00 shipped by Amazon.
Ships from: Amazon Sold by: Read All About It Books
Other Sellers on Amazon
Follow the Author
One Up On Wall Street: How To Use What You Already Know To Make Money In The Market Paperback – April 3, 2000
Enhance your purchase
America’s most successful money manager tells how average investors can beat the pros by using what they know. According to Lynch, investment opportunities are everywhere. From the supermarket to the workplace, we encounter products and services all day long. By paying attention to the best ones, we can find companies in which to invest before the professional analysts discover them. When investors get in early, they can find the “tenbaggers,” the stocks that appreciate tenfold from the initial investment. A few tenbaggers will turn an average stock portfolio into a star performer.
Lynch offers easy-to-follow advice for sorting out the long shots from the no-shots by reviewing a company’s financial statements and knowing which numbers really count. He offers guidelines for investing in cyclical, turnaround, and fast-growing companies.
As long as you invest for the long term, Lynch says, your portfolio can reward you. This timeless advice has made One Up on Wall Street a #1 bestseller and a classic book of investment know-how.
The Amazon Book Review
Book recommendations, author interviews, editors' picks, and more. Read it now
From the Back Cover
Peter Lynch is America's number-one money manager. His mantra: Average investors can become experts in their own field and can pick winning stocks as effectively as Wall Street professionals by doing just a little research.
Now, in a new introduction written specifically for this edition of One Up on Wall Street, Lynch gives his take on the incredible rise of Internet stocks, as well as a list of twenty winning companies of high-tech '90s. That many of these winners are low-tech supports his thesis that amateur investors can continue to reap exceptional rewards from mundane, easy-to-understand companies they encounter in their daily lives.
Investment opportunities abound for the layperson, Lynch says. By simply observing business developments and taking notice of your immediate world -- from the mall to the workplace -- you can discover potentially successful companies before professional analysts do. This jump on the experts is what produces "tenbaggers", the stocks that appreciate tenfold or more and turn an average stock portfolio into a star performer.
The former star manager of Fidelity's multibillion-dollar Magellan Fund, Lynch reveals how he achieved his spectacular record. Writing with John Rothchild, Lynch offers easy-to-follow directions for sorting out the long shots from the no shots by reviewing a company's financial statements and by identifying which numbers really count. He explains how to stalk tenbaggers and lays out the guidelines for investing in cyclical, turnaround, and fast-growing companies.
Lynch promises that if you ignore the ups and downs of the market and the endless speculation aboutinterest rates, in the long term (anywhere from five to fifteen years) your portfolio will reward you. This advice has proved to be timeless and has made One Up on Wall Street a number-one bestseller. And now this classic is as valuable in the new millennium as ever.
- Publisher : Simon & Schuster; 2nd edition (April 3, 2000)
- Language : English
- Paperback : 304 pages
- ISBN-10 : 0743200403
- ISBN-13 : 978-0743200400
- Item Weight : 8.8 ounces
- Dimensions : 8.66 x 5.91 x 0.98 inches
- Best Sellers Rank: #6,801 in Books (See Top 100 in Books)
- Customer Reviews:
About the author
Reviewed in the United States on August 30, 2018
Reviews with images
Top reviews from the United States
There was a problem filtering reviews right now. Please try again later.
He mentions what strategies works for him & which ones he dislikes. He talks about common error professionals/amateur make, and myths about the market.
However, if you have no knowledge on investment I wouldn’t recommend reading this book first, as it uses a lot theories assuming you already know the basics.
I definitely believe this book is worth the read, but it will require reading it more than once because there is just so much information that I didn’t processed with just one read.
My favorite quote from the Book is "Actually I do know a few things about options. I know that the large potential return is attractive to many small investors who are dissatisfied with getting rich slow. instead they opt for getting poor quick."
One of the most important things is to have a good understanding of the business of the company that you want to invest in. As he puts it, he would invest in pantyhose rather than communication satellites, or in motel chains than in fiber optics. The simpler the business, better it is, because those companies are perhaps easier to run and follow. According to him, some of the desirable attributes may be that it sounds dull or even better, ridiculous or has something depressing about it. Just to be ridiculous about it. If that is the case, the chances are that many stock analysts may not be following. Other attributes that can be of particular interest are following: it’s a spin-off; institutions don’t own it, and analysts don’t follow it, it has got a niche, people have to keep buying it, insiders are buyers, or the company is buying back shares. I think there is a lot of wisdom right there.
Equally interesting is the chapter on stocks to avoid. He would avoid one that is hottest in the hottest industry or touted as the next big thing or those whispered in your ears. They usually don’t pan out. His examples and illustrations are bit outdated because of the time the book was originally written, but the points are well driven.
Then he goes on say that it is important to classify the company that you have picked in one of the following six general categories: slow growers, stalwarts, fast grower, cyclical, assets play and turnaround. It would not only allow you to set your expectations, but also help you to make decisions along the way by bench marking other companies in the same category. The second step after picking a company is to check the company fundamentals such as, earnings, cash flow and fact-checking the story. He also described in detail how to get most out of company’s annual reports.
This book has a wealth of valuable information that is presented with simplicity and humor. The thing I liked about Peter Lynch is that he highlights his mistake, not his successes. I guess being a stalwart of the industry; he does not need to beat his own drums. I would recommend this book highly. It’s a classic.
The good news is that most of the advice in the book is relatively timeless and can still be applied to stock analysis today. The first part of the book goes into detail about Lynch's investing career and his best and worst stock moves. The idea behind this is interesting but it didn't work for me sometimes in execution. It's quite easy to look back at an investment five years later and say this is why it was a good or bad idea in hindsight but it doesn't tell us much about what we can do to make sure we're making the right choices in the future. Still this part of the book is good because it gives you a good look at how people reacted to stock market news back in the 80s and it's quite similar to how the markets react to news now. It was interesting to read about the paranoia around stock market crashes and how expensive securities were thought to be back and how that compares to current market conditions.
The second part of the book goes into more detail on Lynch's personal investing philosophy which is relatively simple but a good start for someone new to investing. It's a relatively easy process to follow and it all makes sense and can certainly give individual investors a slight advantage over those who don't do the same type of research but for me this book was just a starting point and that's what makes it good. It's a good introduction to investing - giving historical insights to the market conditions in the 80s and 90s as well as a way for individual investors to evaluate the prospects of a stock.
I'm not sure I cared for all the analysis of Lynch's personal trades as I feel like they were cherry picked to look good or bad in hindsight but I don't see how that adds any value to the individual investors as they naturally weren't so obvious when the investments were made or Lynch wouldn't have made them. The type of 'of course stock A went down 50% because of A,B,C now that I look back on it' and 'of course stock B was a good investment and went up 5x because of D,E,F' just didn't work for me because it felt like fluff to pad the length of the book. Still, I think learning about the viewpoints others had about the market in the 90s and how it mirrors how we look at our markets now was interesting and the investing theory presented in the 2nd part of the book had value too.
Top reviews from other countries
This is a charming book written by a modest and engaging character, full of great anecdotes and sound advice. It has a place in my top twenty books on investing. Thoroughly recommended,.
It's an entertaining read which I think provides a lot of fundamentals for being a long term investor, and how to keep your head about you during bad and good times.
I will say that the author is a self proclaimed techno-phobe (despite having a large holding in Apple when he wrote the book), and mentions that he's inclined to steer clear of tech companies. As clever as this was before the dot.com crash it isn't great advice in 2020.
I particularly like the sections where he details some of his investments (good and bad) and includes the charts explaining where he bought and sold and the reasoning behind that. Peter actually goes quite in depth on some of his biggest mistakes which is a really nice touch and takes it away from being overly preachy like a lot of other investment books.
So far I've read it twice and I fully intend to read it again.
In one place he is dismissive of technical analysis, so do not expect that.
Given that this was written 20 years ago, it is remarkable that so many good principles, and bad practices, can be seen widely today.
Worth reading, even if you do not follow the Lynch approach.
The book doesn’t advertise itself as a guide to investing and is more of an investing autobiography. Still, good to learn how top investors think and act.