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Peter Lynch a seasoned investor and financial expert shares valuable insights into the pitfalls of blindly investing in stocks based solely on their price movements in his engaging discussion he highlights real life examples of companies like Polaroid and Kaiser Industries cautioning against the misconception that a declining stock price guarantees a future rebound there's a lot of times people buy on the basis the stock has gone down this much how you know how much further can to go down I remember when Polaroid went from 130 to 100 people said here's this great company great record if it ever gets below 100 you know just buy every share you know and it did get below 100 a lot of people bought on that basis saying look it's gone from 135 to 100 it's now 95 what a buy within a year it was 18 and this company with no debt I mean this a it was just so overpriced it went down uh I did the same thing in my uh I think my first or second year of fidelity Kaiser Industries had gone from $26 this year to 16 I said how much lower can it go it's 16 so I think we bought one of the biggest blocks ever on the New York on the American Stock Exchange of Kiser Industries at 14 I said you know it's G from 26 to 16 how much lower can to go well at 10 I called my mother and said Mom you got to uh look at this Kaiser Industries I mean how much lower can it go it's gone from 26 to 10 well it went to six it went to five it went to four it went to three and uh now I unfortunate this happened rapidly I would probably be still cading or being work at the stopping shop but I it happened fast I was able to this this was compressed at U and at three I figured out you know there's something very wrong here because Kaiser Industries owns 40% of kais of Steel they own 40% of kais of aluminum they own 32% of kais of cement they own Kaiser broadcasting they own Kaiser s gravel kaiso Engineers they own Jeep they own business after business and they had no debt now I learned this very early this might be a breakthrough for some people it's very hard to go bankrupt if you don't have any debt it's It's Tricky some people can approach that it's a real it's a real achievement Peter Lynch emphasizes the importance of not solely relying on a Stock's past performance when making investment decisions he highlights two examples Polaroid and Kaiser Industries where people bought based on the stocks decline only to see it plummet further he underscores the significance of understanding a company's fundamentals and debt levels as key factors in evaluating its Financial Health Lynch's Insight here is a valuable reminder that successful in investing involves more than just chasing stocks that have fallen in price they had no debt and the whole company at three was selling it about 75 million that point it was equal to buying one Boeing 747 I said there's something wrong with this company selling for 75 million I was a little premature at 16 but uh I said everything's fine and eventually this will work out and they what they did is they gave away all their shares to their shareholders they passed out shares in Ka of cement they passed out shares in Ka of aluminum they passed out their public shares and Ka of Steel they sold all the other businesses you get about $50 a share and but if you didn't understand the company if you're just buying on the fact the stock had gone from 26 to 16 and then it came to 10 what would you do when it went to 9 what would you do when it went to eight what would you do when it went to seven this is the problem that people have is they sell stocks because they didn't know why they bought it then it went down and they don't know what to do now do you flip a coin do you walk around the block you know what do you do psychiatrist haven't worked so far I've never seen them running in the the the psychological Psychiatry fund I've never seen this this for the uh with the SEC to make it through as a mutual fund so I they haven't seen to help uh I've tried prayer that hasn't worked the uh the uh so if you don't understand the company of this problem when they go down uh eventually they always come back uh this one is uh this one doesn't work either uh people think uh RCA just about get back to its 1929 High when General Electric took it over uh a lot of double knits never came back remember those Beauties uh uh floppy discs Western Union uh the list goes on and on uh people saying it'll come back well it doesn't have to come back uh here's another one you hear all the time it's $3 how much can I lose I have had people call me up saying I'm thinking of buying this stock at three how much can I lose well again you may need a piece of paper for this but if you put uh if you and if you put $20,000 in a stock at 50 or your neighbor put 20,000 at 4 at 50 into the stock and you put $20,000 in at three and it goes to zero you lose exactly the same amount of money everything if people say it's three how much can I lose well if you put a million dollars on it you can lose a million dollars just the fact of stock this is the only this may be a reason to research a stock the fact a stock is three down from 100 doesn't mean you should uh buy it and in fact short sellers people that really make money in stocks they don't show at Walmart they don't show at Home Depot they don't show at the companies Johnson Johnson they short stocks down from 80 to 7 they'd like to have shorted at 16 or 22 but they they figured out at seven this company is going to go to zero they just haven't blown Taps on this thing yet it's going to zero in conclusion Peter Lynch's anecdote serve as a stark reminder that stock investment decisions should be grounded in a thorough understanding of the underlying company rather than mere price movements he emphasizes the importance of knowing why you invest in a particular stock as blind following price trends can lead to significant financial losses Lynch's wisdom encourages investors to approach the stock market with a well-informed and rational mindset
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