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omshivaya
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Joined: 06/Sep/2006
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Posts: 5966
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   Posted: 15/May/2007 at 10:04pm |
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Yes, very true Kulman jee. Only thing...keep the process of sharing. As knowledge grows even more when shared. Hope no offence!
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The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it
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basant
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Joined: 01/Jan/2006
Location: India
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Posts: 18403
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Posted: 15/May/2007 at 10:21pm |
I read that interview from the link again.WHat a wonderful feel to refresh yourself with the basics again.
If someone thought that Lynch was only a buy what you see man this paragraph needs a relook:
Well, I think flexibility is one of the key things. I mean I would buy companies that had unions. I would buy companies that were in the steel industry. I'd buy textile companies. I always thought there was good opportunities everywhere and, researched my stocks myself. I mean Taco Bell was one of my first stock I bought. I mean the people wouldn't look at a small restaurant company. So I think it was just looking at different companies and I always thought if you looked at ten companies, you'd find one that's interesting, if you'd look at 20, you'd find two, or if you look at hundred you'll find ten. The person that turns over the most rocks wins the game. And that's always been my philosophy.
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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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kulman
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Joined: 02/Sep/2006
Location: India
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Posts: 9319
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Posted: 15/May/2007 at 10:36pm |
Very true, Lynch has put across basics very nicely. I found this from that book very very common sensical...
This may sound like a ridiculous thing to mention, but I know that some of my fellow investors torture themselves everyday by perusing the "ten biggest winners on the NYSE" and imagine how much they've lost by not having owned them! Regarding somebody else's gains as your own personal losses is not a productive attitude for investing in stock markets. In fact it can lead only to total madness.
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Life can only be understood backwards—but it must be lived forwards
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kulman
Senior Member
Joined: 02/Sep/2006
Location: India
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Posts: 9319
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Posted: 15/May/2007 at 7:56am |
Don't overestimate the skill & wisdom of professionals---Peter Lynch
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Life can only be understood backwards—but it must be lived forwards
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kulman
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Joined: 02/Sep/2006
Location: India
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Posts: 9319
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Posted: 16/May/2007 at 9:02am |
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Actually I 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!---Peter Lynch
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Life can only be understood backwards—but it must be lived forwards
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kulman
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Posted: 17/May/2007 at 10:24am |
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It doesn't take much to outsmart the smart money, which isn't always very smart---Peter Lunch
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Life can only be understood backwards—but it must be lived forwards
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kulman
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Posted: 18/May/2007 at 8:56pm |
There are 60,000 economists in the US, many of them employed full time trying to forecast recessions & interest rates, and if they could do it successfully twice in a row, they would all be millionaires by now.
They'd have retired to Bimini where they could drink rum & fish for marlin. But as far as I know, most of them are still gainfully employed, which ought to tell us something. As some perceptive person once said: If all the economists of the world were laid end to end.......it wouldn't be a bad thing!---Peter Lynch
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Life can only be understood backwards—but it must be lived forwards
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kulman
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Joined: 02/Sep/2006
Location: India
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Posts: 9319
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Posted: 19/May/2007 at 8:51am |
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Things are never clear until it's too late---Peter Lynch
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Life can only be understood backwards—but it must be lived forwards
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