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OneApp with Wall Street, probably Peter Lynch's best-selling book. I've always liked Peter Lynch because I consider him one of the best investment portfolio managers in history. Think about it: Peter Lynch worked at Fidelity Infiniti International and, during his years of management, during the Magellan fund, he managed to achieve an incredible performance of about 30 percent on average per year.
Speaking of Peter Lynch's books, his book doesn't continue with Naples, but in Meeting the Street, his career is described, his years of management of the Magellan fund. It's a book I recommend to all financial advisors, but also to those who have the ambition of becoming portfolio managers. The book describes the routine that Peter Lynch already had during his career: the fact of not having fixed hours, the fact of having regulations to follow, even if you want to go a little off track to seek better performance, the fact of having investors to take into account, and in fact, being able to balance your career with your family and private life, and this last one is also one of the most important aspects.
Why Peterlin then decided after only thirteen years to abandon his career as a manager, but it was precisely by reading this book that I understood the importance of giving attention to the person who manages the money of the investment fund and not simply to the performances behind it. I can't help but say who wouldn't want their money managed by Peter Lynch or Warren Buffett or Rai D'Aglio or Jim Simon and never the concept is that there are many other people within the investment world who, although they may not have the returns of these, let's say, great financial totems, but they still have excellent management.
Good Paul Moore Street instead always describes in a detailed manner the fact that all of us can become excellent investors, we can all succeed in finding excellent companies and, in fact, for us small ones, it is much more likely to be able to achieve better results precisely because we don't have regulations that the managers of portfolio managers have.
In the book, Peter Lynch coins the term " decades baggers tendini" (Italian ten budget) which are basically those stocks, those companies that manage to make a thousand percent in a few years. Let 's take example one. above all in the last period Tesla who practically made a thousand percent from October of last year November of last year to the present day but what are we talking about today perfect he would have understood that today we will talk about Peter Lince but first I am Davide I welcome you to my channel if you have not done so subscribe the one you see above downloaded it from the internet while this thing I did but I think that to reuse st today we will talk about the book OneApp Monsters by Peter Lince but specifically we will talk about how to classify the realities the shares the companies before going to invest and to do this if you then want to read the book below I leave you the link and if you buy it Bezos will give me a hand to support the channel and also if unfortunately you do not read in English because the book is only available in English maybe if you want subscribe privately I like with all my books I do the summary and eventually I will share it with great pleasure let's go back to the book and the video the goal today is to try to understand why we need to divide the companies into categories well Simply because we make the classic comparison that happened in March this year, it is a bit absurd to consider with the same parameters a company like Amazon and a company like Carnival Corporation that have had totally different returns but because they operate in totally different sectors and are part of totally different categories precisely because each company is different, the fact of dividing them into six categories helps us to better diversify our portfolio and to have greater awareness of what we are doing to better understand Peter list of very practical and real examples and comparison to the companies has the workers of today let's go and look at them all together there are six categories let's go and look at it one by one point immediately can the slow growers companies are the companies that grow slowly overall if a company that previously grew very quickly only that once they reach the saturation of their business they start to grow more or less like the national GDP or slightly higher than the value of the national GDP they are excellent companies excellent companies that however let's say Peterlin it is said they are not the companies where the real money is made they pay an excellent dividend they are very solid and if we want to bring back the example of Peter Minich slow growers are the Electricity companies that initially grew exponentially but then found their equilibrium point and grow slowly and steadily.
If we want to use the classic example, slow brokers correspond to today's employees. The second category is the Star Wars. These are companies that can grow by 10-12 percent a year but then in subsequent years can only make a paltry 3 percent. In this category, the entry time is crucial. An example given by Peter Lynch in the book OneApp is Elmo Street, which is right in Bristol Meyers.
When one of these established, world-class companies makes 50 percent or more, you can think about selling it because there will probably be other, much more interesting opportunities within the same category. Other examples today could be Coca- Cola. As for the workers who are part of the Star Wars, we can find mid-level managers who have stable salaries, good, stable salaries, but who will have predictable career growth in the future.
It is also possible that these managers will move up a level, but the forecast is there, so the market already expects it, so the value will automatically appreciate. The third category manager is given the category that makes the most money of all are the fast brokers all that the Fastweb lowers companies need is an expanding sector of a slow industry what does this mean let's take the example of Marriott Hotel Marriott worked in the hotel sector so it wasn't an incredible and exciting industry or one that was expanding at the speed of light on the contrary it was a slow expansion but the growth sector the possibilities for growth were really wide in fact Marriott practically grew in the periods of the management of Vincennes by 20 percent a year nowadays we could always take into consideration in the hotel sector Airbnb or Booking let's leave aside for Air Bimbi that was listed a few weeks ago and we'll see where it goes what Peter Lynch underlines is that he puts it at the end of the paragraph but I think it is of fundamental importance and that in any case the fast growers must still have profits they must give profits to investors before going to invest in them and the trick is to try to understand when these companies will start to slow down their growth and become either Star Wars or slow blowers if we come our way we can look to catalogue the fast rovers of the actors of the entrepreneurs of the start-ups or of the artists or even Peterlin enters from the criminals who are all those companies that perhaps are struggling, are struggling but that at any moment could explode and make a vast explosion in the first two, three or four years of their career and then perhaps change category or if it is like Amazon to continue being fast growers in the fourth category we have the cyclical companies.
The civic categories are very misunderstood and are often confused with Star Wars, but we must be very careful because although they may be similar, cyclical companies have a life path that rises and falls based on exogenous market events. Automotive companies, airlines, a chemical sector can be in this category and very often we need to study, we need to monitor because they can do much better than Star Wars and here too the entry point is of fundamental importance if we want to give a more concrete and perhaps easier to understand example.
In today's world, the cyclical companies are farmers because they have to follow the weather, seasonal workers, workers and he in the tourism hotels who perhaps work in the mountains under the snow or who were at the seaside in the summer or even We know the Christmas shops and the Christmas markets that have a boom during their takings practically under the Christmas holidays.
The fifth category are the companies called by Peter Lynch back to runs. They are companies that could be cyclical companies but which for whatever reason have not managed to recover and indeed perhaps are on the verge of bankruptcy. We must be very careful with these companies because they could fail from the other document or they could have fantastic returns even at hatten wagers.
We must differentiate them greatly from the cyclicals because if we were to consider a turnaround in a cyclical sector we could have a bad and unpleasant surprise. An example in Peter Linz's book for the turnarounds is Chrysler which failed to follow the cyclical sector and its competitors but continued its inexorable decline after which it succeeded since the management was excellent and the product also managed to grow exponentially giving excellent returns right at the bottom but slam.
An example of a turnaround nowadays comes from a very particular event that we say does not happen every day but it is truly singular we are talking about. Kodak, the camera and film company, was in fact going through a very critical period in its history and in July 2020, thanks also to the coronavirus crisis, it tried to reinvent itself a bit, managing to transform the production of its industries and its machinery into goods that were needed for the fight against the coronavirus and also managed to get some financing from the administration.
If we had invested in Kodak shortly before learning of the news of what they were doing because maybe someone would have found out, we would have transformed 10,000 dollars into just under a million in the space of a couple of minutes, the return is practically 1500 percent. If we look at today, the categories of workers who are part of the turnaround runs could be perhaps from the unemployed to the freelancers who are about to go bankrupt and then manage to find something that makes them grow and relaunch their business.
The last category is asset placement. This category is a bit different from all the previous categories because it is considered the companies that are really known because perhaps you work within the reality or you have the opportunity to know them. Peter Nice himself also gives the example of real estate, where the value of properties is known but in the balance sheet it is entered at a totally different price.
Naturally, one must not be too presumptuous because otherwise one can have some unpleasant surprises. An example that Peter Lynch gives in the book is his investment in Penn Center, for which Peter Lynch knew very well that he was going to fail. He simply invested in it because he made the last sprint thanks to the tag slots, therefore to a tax relief that was obvious that would be granted but which if it was not known at the time could not be grasped.
Today, the asset places are mainly heirs or workers who work in a family environment in the family business precisely because they know it and carry it forward. What Peter Ninja wants to try to underline in an important way is that the categories, the companies, never remain in the same category for their entire life.
Nowadays, cities vary, they change and change category even constantly and that is why once a stock is included in your portfolio, a company must be constantly monitored. In short, try to divide your portfolio with the Peter Lynch's reality in those categories Peter Lynch Peter Nice himself in the book also says how it is divided how the Marcellana fund was divided during his management he mainly took into consideration the objective of investing between 30 and 40 percent in bad stops then we have 10 or 20 percent in Star Wars we have 10 20 percent in cyclicals and finally everything else was around runs Peter Ninja left out the asset places but above all he left out the slow groovers because the objective of the Mazen Laniera fund is to outperform the market and with the slow groovers it is not possible to outperform the market this is a fact as always try to divide the stocks that you insert in your portfolio mainly based on your objectives we cannot invest in stop growers that maybe fail if we want to have a dividend well let me know below in the comments what you think of this video if you have also catalogued I read Peter Lynn's book Saywan upon a Wall Street I hope you enjoyed this video and you will have learned something new and different we'll see each other as always in the next video a comment expression is a like hello everyone
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