“This Investing Habit Is Destroying Your Stock Portfolio” - Peter Lynch | Stocks | Investment

요약 보기

주식은 보유 사실을 모르니 감정적 애착을 버리고 기업 펀더멘털을 기준으로 판단해야 한다. 최고 수익은 보유 5~7일차가 아니라 5~7년차에 나온다. 저가 투기주(위스퍼 스톡)는 피해야 하며 본인도 30여 개를 샀으나 손익분기도 못 넘겼다. 걱정거리는 늘 있으니 무시하고 좋은 기업이나 턴어라운드 기업을 장기 보유하라. 과거 공포(공황, 일본 붕괴, LDC 부채 등)는 대부분 빗나갔다.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. One rule you want to remember is the stock does not know you own it. This is This is a breakthrough. Now, here's a subject that you probably all talked about. The important thing is you can't get too attached to a stock. You have to understand there's a company behind it. You can't treat this like your grandchildren.

02. No, you have to deal with the stock and say, "I understand the company and if they deteriorate, if the fundamentals slip, you have to say goodbye to it." You have One rule you want to remember is the stock does not know you own it. This is This is a breakthrough. So, don't get, you know, you have to understand it and say, "They're doing well and as long as they keep doing well, my best stocks have been my fifth, sixth, seventh year I own them, not my fifth, sixth, seventh day." So, you have to understand that and stay with it.

03. And then uh I'll switch through to my uh my long shots. Avoid long shots. I bought about 30 long shots in my life. I've never broken even on one. Uh the ones that are really bad are what are called whisper stocks and uh if Arthur Levitt was here, he'd he'd appreciate these stories. These are the types that somebody calls you up and say, "Hi Peter, how's Carol?

04. How are the kids? I'd like to talk to you about uh International Oblivion and uh and uh what they have in this company is they have very very earnest uh earnings are going to be very They're going to be very small. It's at $3. Uh $1 share. And they keep whispering. I say, "What are you talking about?

05. I don't understand it." And these are Now, either they're so surrounded by people they're going to run out and buy this stock because it's so exciting or they think the SEC's listening in they'll get a shorter term. You know, they'll get 6 months in the in the camp rather than 2 years in a camp for But whisper stocks don't work uh the uh And then I want to conclude with uh there's always something to worry about.

06. Uh If you own stocks, there's always something to worry about. You can't get away from it. Uh [clears throat] What happens in the '50s, people were worried about um the The only reason we got out of the depression was World War II. We got another recession in the early '50s and they said we're going to go right back into a depression.

07. People were worried about a depression in the '50s and they were worried about nuclear war. I mean, back then uh you know, the the little warheads they had then, they couldn't blow up McLean, West Virginia or McLean, Virginia, you know, or or Charleston. Now, all these countries that end in stan, there's nine of these stan countries that have come out of Russia.

08. They all have enough warheads to blow the world up and no one worries about it. When I was a kid, people were building fallout shelters and we used to have this this civil defense drill. Remember this one in high school? You'd get under your desk. I never thought even then that was a particularly good thing to do.

09. You know, they'd blow a whistle and we'd all have to all get under our desk, you know, it's uh But in the '50s, people wouldn't buy stocks except for the '80s. The '50s was the best decade of the century of the stock market. And people wouldn't buy stocks in the '50s because they were worried about nuclear war and they were worried about depression.

10. Then people Remember when oil went from 4 to 40 and it was going to go to 100 and we're going to have a depression. Remember that one? Well, about 3 years later the same experts, now higher paid, oil is now at 10 and they said it was going to go to 4 and we're going to have a depression. And then the Japanese Remember how the Japanese were going to own the world?

11. Remember that one? And that we're going to have a depression. And then about 2 years later we're all worried about Japan collapsing. This is the most absurd thing I've ever heard. It's a company with a 20% savings rate, incredible workforce, incredible productivity and people were saying we're going to have a depression because Japan's going to collapse and they You know, on their prayer list, they lowered Mother Teresa and crippled children and they were praying for Japan at night, you know.

12. You know, it's unbelievable. I mean, it's the the LDC debt. Remember the LDC debt? Remember that one? All these countries all chased and lent their net worth to Brazil, Chile, Peru and all these other countries and so on and all the other countries. And LDCs said they were not going to pay it back and we're going to have a depression.

13. It always ends in we're going to have a depression or the Great Depression. We're going to have the Great Depression. I never could understand that adjective in front of depression, but it's the or with the Great Depression or the big one. The big one's coming. But all these countries and now I understand, you know, these are called the Then they were called less developed countries.

14. Now, we used to call them underdeveloped countries. Those are all wrong terms. Those are not politically correct. You have to call these emerging countries. You can't use less developed or underdeveloped because that's In fact, the other day I heard the politically correct term for somebody that's overweight is laterally challenged.

15. That's the the That's a So, there's always something to worry about and the key organ in your body in the stock market is your stomach. It's not the brain. If you can add eight and eight and get reasonably close to 16, that's the only level of math you need to know. You don't know to need the area under the curve.

16. Remember that quadratic equation and and integral calculus and the area under the curve. I mean, whoever cared was under the damn curve. I mean, you know, but you had to study this. You don't need this in the stock market. So, all you have to know is you're going to see it's always going to be scary.

17. There's going to be always something to worry about. And you just have to forget all of that. Cut it all out and own good companies or own turnarounds. Study them and do do well and then