저자: DavideD'Isidoro · 외국인
요약 보기
피터 린치의 소액투자자용 6가지 조언을 소개하는 영상. 1) 보유 종목은 10~12개 내외로 제한(따라갈 수 있는 수만큼), 2) 기관투자자 흉내 내지 말고 장기 관점으로 독립적 판단, 3) 종목 발견 당일 매수 말고 2주 정도 숙고(FOMO 경계), 4) 거시경제 예측에 시간 낭비 말고 기업 펀더멘털에 집중, 5) 재무제표 이해 없이 투자하지 말 것, 6) 소비자로서 직접 사랑하고 필요한 제품·서비스 기업에 투자. 특정 자산의 가격 방향 예측은 없음.
다듬은 글
Hello friends, you investors, even if you often hear people say that small investors, the so-called retail investors, have no chance of doing well on the market because there are institutional investors, large funds and investment banks that make money at their expense, the big investor Peter Lynch does not share this opinion and says that even retail investors can obtain excellent returns if they follow certain rules.
In this video I will see with you six tips that Peter Lynch gives to small investors to obtain returns above the average. Peter Lynch's number one tip is not to have more than 10-12 stocks in your portfolio before triggering. I will tell you in the comments that Peter Lynch had more than 1000 stocks in his portfolio.
Listen carefully because he gives this advice. Peter tells her that owning stocks is like having children and I think it's clear what he means. Once we have brought a child into the world, we cannot forget about it. But we must follow it carefully. We must make sure that it behaves well in life and grows well.
And it's one thing to follow one child, but it's another thing to follow four with stocks. It's the same as following too many stocks. It's not possible because we have to periodically read the quarterly reports and conference calls. The annual reports of these Berish other investors and analysts and it is advisable to do this also for the main competitors and it would also be important to keep up to date on the evolution of the sector in which they operate.
These companies that we have bought must constantly train on the sector in which they operate and if we have 50 companies in the portfolio from part-time investors like us small investors it is not possible to follow them all. Therefore we must limit the number of companies we can follow. Because we are not investment funds where we can think about our portfolio and the companies all day 5-6 days a week and perhaps also with the help of collaborators and consulting firms.
This is why Peter Lynch's fund, the Magellan Fund, one of the most well-known funds in the world, could afford to have many more companies than we can. However, let's not focus too much on the specific number of shares to have if 10, 12 or 13 is better. Let's try to have the right compromise between diversification and the possibility of following our companies well.
Then for some this number of shares will be 10, for others 15 or 20, but we have understood the basic concept. In my opinion, do not follow the institutions, do not follow what they do. We don't try to imitate the big funds and investment banks and do what they do because we don't have the skills and tools to play by their own rules.
By playing by their rules we certainly lose and we don't try to imitate them because Celin's professional investors are the herd because they are trained and limited by the policies of their funds and by the fear of keeping their jobs. They have a short-term orientation because the managers are afraid of losing the fund's clients if they underperform for just 6 months and therefore these managers are afraid of losing their jobs as a consequence and this speculative and short-sighted vision of the market leads them to underperform in over 90% of cases.
Luckily, we can take advantage of small investors and we can play by other rules. We don't have clients to worry about. We don't have a boss who can fire them. We don't have a boss who can fire us if we underperform for 6 months or a year. We don't necessarily have to buy the hot companies or sectors of the moment.
Because all the other funds do it and so if we don't do it and we make a mistake, the boss will give us a hard time. of the idiot we can have independent opinions behave independently we can buy shares of any type of capitalization of any market we want and above all we can think with a long-term time horizon which gives us much more chances of having good returns because in the short term the market It follows the sentiments of investors in the long term instead the fundamentals of the companies and it is much easier to read the fundamentals of the companies than the emotional reactions that investors can have third advice never invest the same day or week in which we discovered a new stock because in this period it is likely to be affected by FOMO and excessive emotionality in the short term emotions, excitement, greed can get the better of reason so if we see a video on YouTube for example where a company is analyzed and we like this company a lot lych recommends not to buy it immediately because clearly we have to do our own analysis not those of the youtuber but then we have to let the investment idea digest for a couple of weeks so that we can review the investment with a cool head and make a more rational decision usually when a few days pass we think of risks and Berish scenarios that we had not considered before and instead what does Most people rush to buy a stock the same day or at most the day after they discover it on a YouTube video or an analysis on Reddit, Twitter, or Instagram.
However, we shouldn't complain if we lose money on the stock market because outside of the stock market, none of us would buy an apartment to rent out, a pizzeria, or a shoe store the same day we found the listing or the day after. So why should we do it with listed companies? Lynch's fourth piece of advice for retail investors?
Don't waste time on macroeconomics. Lynch's famous quote is: "If you spend 13 minutes studying economics, you've wasted 10 minutes." This means that we need to dedicate very little time to economics and the vast majority of our time to studying companies, financial statements, strategies, and philosophies of big investors, etc., and instead people do exactly the opposite.
For example, on YouTube, the most viewed videos are not those on the fundamental analysis of companies or the study of successful investors. That is, you who are watching this video are the minority of investors. Most investors watch videos like this. There will be a recession within the year, how much Powell will raise interest rates, or will inflation last much longer, etc.
These are certainly important things that influence the performance of companies in the short term, but they are completely useless in practice. Because we cannot predict the performance of the economy, inflation, or interest rates, and therefore we might as well focus on company fundamentals, on balance sheets, not investing in the macroeconomy but investing in companies.
Fifth piece of advice: never invest in companies without understanding their financials. That is, how the company earns money, how it records revenues. What are the main indicators to look at to understand if it is doing well or badly, which products have the highest margins, or for example, which ones make up the bulk of sales.
If the company generates enough cash flow, how much debt does the company have and if it is sustainable, etc. Many investors instead invest based on ideas, they say things like "I bought it" "Because I like the products, I like the business idea, the CEO is a genius, the sector in which the company operates, will it be the future," which are all very good things to look at, but they haven't even taken a look at the balance sheets, perhaps thus risking buying companies under the counter.
This is a very popular type of stock on social media or forums that are considered the future of Tenex in terms of returns, completely ignoring the balance sheets, however, and sometimes in these cases you end up finding your investment even at zero because often there are companies that are worth almost zero in terms of fundamentals but are appreciated as much as 10 super profitable companies in the same sector put together only because there is hype about the business model, the products and services that the company will launch one day but no one knows when.
Sixth advice: invest in products and services that we love and that we cannot do without. This is an important competitive advantage that Retail investors have compared to the managers of large funds, says Lynch. Because the managers spend all their days in their Ivory Towers in their offices looking only at graphs and numbers, they often lose touch with reality with the products and services on the market while we can buy the company that produces, for example, the models that we love and we know that there are millions of fans around the world, or that streaming entertainment service that we use every day and that we cannot do without.
Or that shoe brand that our daughter and all her friends love and compete with each other. Who has the most models of that brand and sometimes these emerging brands, products or services, are things that we consumers and small investors, says Lynch, can see in advance compared to the big ones who have.
Furthermore, there are a whole series of reasons why they cannot buy these opportunities, for example, the company that produces that product that is having so much success is still a micro company or Small Cap and therefore funds cannot enter it, or it operates in a sector in which large funds, for ethical reasons, so to speak, cannot enter, or for the simple fact that the company is not American, or even because the company is in a boring sector, a sector without hype, a traditional sector such as supermarkets or tools for Fi from you, and therefore the manager does not feel like putting in the portfolio a sector so ignored by the market when he can add companies in sectors in hype that therefore have an excellent chance of rising in the short term, such as artificial intelligence, electric cars or solar energy.
So to recap, these are some of the tips that Peter Lynch gives to small investors and if you like to talk about these topics, then I invite you to Do it with us in the Circle of Value Investors, our group on Discord, because we do it every day. There are hundreds of us in the group and to join you just need to support the channel with a small contribution on Patreon.
I'll leave you the link in the description and let me know if you already follow these six tips from Peter Lynch. Write a like to the video in the comments if you liked it and see you next time. Bye from Davide
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