Why is it impossible to repair long and empty?
Human thinking is inertial, and people are also often unconsciously biased and biased.
Are you better than investment guru Peter Lynch (Peter Lynch)?
Peter Lynch (January 19, 1944—) is a fund manager at an investment management company. He is currently the vice chairman of Fidelity Investments (Fidelity Investments), a member of the board of directors of Fidelity Funds Custodian, and currently lives in Boston.
In the 13 years that Peter Lynch was the fund manager of Magellan Fund (Magellan Fund), the assets of Magellan Fund grew from 20 million US dollars to 14 billion US dollars, and the fund had more than 1 million investors, becoming Fidelity's flagship fund, with an average annual compound return rate of 29.2%.
Born in Boston on January 19, 1944.
My father died in 1954 due to illness, and the whole family's life has been in trouble ever since.
I got a job as a caddie on a golf course in 1955.
Graduated from the Wharton School at the University of Pennsylvania in 1968.
Joined Fidelity Investments (Fidelity Investments) in 1969 and became a researcher.
Became the fund manager of Magellan Fund (Magellan Fund) in 1977.
In May 1990, he voluntarily resigned as a fund manager.
Lynch likes to accumulate more, and he doesn't refuse even a small profit. Lynch likes to make small decisions every day rather than a few big decisions every year. He felt that the error losses caused by making small decisions every day were far less than the mistakes that occurred when making a few big decisions all at once.
He thinks the market efficiency theory is ridiculous.
A whale-like investment method: whales first indiscriminately and quickly devour large amounts of marine life, then through whales, they have to choose only a few parts to stay, and leave the rest out. When Lynch saw an investment opportunity, he also bought a large number of stocks first, then after research, finally chose a small number of stocks to continue holding, while selling all the rest.
The “cocktail party” theory:
When a stock market is bearish for a while, and at the same time, there is no expectation that it will be bullish, even if the stock market rises slightly, people don't want to talk about stock issues. We call this period the first phase. At this stage, if someone slowly walks over and asks me what kind of career I do, and I say, “I work in mutual fund management,” the visitors will kindly nod their heads and turn away. If he doesn't leave, he'll quickly change the subject, talk about the Celtics game, the upcoming general election, or simply talk about the weather. After a while, he'll go to the dentist and talk about dental congestion or something. When 10 people are willing to talk about dental care with dentists and not with people who manage mutual funds about stocks, the stock market is likely to rise.
In the second stage, after I explain my career to the interlocutor, he may have a longer conversation with me, talk about stock risks, etc. People are still reluctant to talk about stocks. The stock market has risen 15% since the first stage, but no one is paying attention to it.
By the third stage, the stock market had already risen 30%. At this point, most cocktail party participants would ignore the dentist, and the whole party would revolve around me. Enjoyed people kept on pulling me to my side and asking me what stocks to buy. Even the dentist asked me similar questions. The people who attended the reception invested money in some kind of stock, and they all discussed with interest what has already happened in the stock market.
In the fourth stage, people surrounded me. This time they suggested which stocks I should buy and recommended three or four types of stocks to me. Over the next few days, I found in the newspapers that the stocks they recommended had already gone up. When my neighbors also suggest me which stocks to buy, it's an accurate sign that the stock market has reached its peak and is about to fall.”
The “cocktail party” theory is not a “one-size-fits-all” theory. Lynch also reminded people that the attitude of this theory should be based on each other's needs and not be blindly superstitious.
Warren Buffett and Lynch are two of the greatest investors in modern society. Along with George Soros, I'd like to use the word “genius” to describe them. However, “if I had to choose who is perfect, overall, I would only choose Peter Lynch. His character can be called number one; like Hercules in Greek mythology, he is a 'god' person on Wall Street. Another thing I admire is that he knows when to quit and go back to his family” --** Investment Guru Newberg
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成熟投资者：格局，概率，取舍。没有格局必然急功近利。不计概率会把运气当技术。不懂取舍，有所不为，最后必落入陷阱和圈套。
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