저자: 미상 · 외국인
요약 보기
피터 린치의 투자 철학을 소개하는 교육 영상. 린치가 피델리티 마젤란 펀드를 1977~1990년 운용하며 연평균 약 29% 수익을 냈다고 설명. 핵심은 '잘 아는 것에 투자', 감정 통제, 깊은 리서치, 장기 보유. 주식을 6가지 유형(저성장주, 우량주, 고성장주, 경기순환주, 턴어라운드, 자산주)으로 분류하는 방법도 제시. 특정 종목에 대한 매매 권유는 없음.
다듬은 글
Hello students, welcome to part four of our series Strategies of Grade Investmentsters. So we have covered Benjamin Graham's investment strategy. Then we covered Warren Buffett's investment strategy and finally we covered John Tomts' investment strategy. In this part we are going to cover Peter Lynch investment strategies.
So let's start. So the first question arises: Who is Peter Lynch? So students, Peter Lynch was one of the most successful fund managers in the world. He managed the Fidelity Magellan Fund [nasal sound] from 1977 to 1990. And during this period the size of the fund increased from a few million dollars to billions of dollars.
Right? So if we look at the average, he had earned about 29% annual return. And that was one of the best track records ever. So an average 29% annual return means that the money was continuously compounding. So students, such consistent returns are possible only when investors stay away from market noise and focus on business fundamentals.
Right? So see what his core belief was? Invest in what you know, that is, whatever you know about which you have full knowledge, you should invest in such stocks only. Right, if you understand the business model of the company, how the company earns money, whether the demand for the product is sustainable or not, that is, you know regarding these things, then you should invest in that company, right now see Peter Lynch invest in what you know, what were his famous ideas, his investing needs emotional strength, right, if the market falls then basically fear comes, suppose the market is going up, if the market is going up then somewhere greed will come in the mind of the investor, so Peter Lynch used to say that the investor who is not able to control emotions cannot survive in the market for long.
So students are considered the biggest enemy of panic selling investors. Right? Now Buy Companies When You Understand. Right? See, understanding the company means what is the product? Who is the customer? Who are the competitors? What is the company's competitive advantage ? If you cannot answer this question , you are investing blindly.
So, you should avoid such things. Now next is do deep research. Right? So basically research does not mean that you just search for things from Google or YouTube. No, Peter Lynch had research points. You look at sales and profit growth, debt levels, cash flow, future expansion plans. So, without research, students' investment basically depends on luck.
And we should not do this. Now next is look at the obvious winners. Right? That often the best opportunities aren't in the news. So Peter Lynch used to observe malls, supermarkets and daily use products and take investment ideas from there. The best stocks in the market often go unnoticed. Right? Now next is be patient for long term gus.
Right? So, basically, if compounding is working, then it basically requires time. What seems slow today, what could happen after 510 years is that the same company basically creates wealth. So students, the stock market is a marathon, not a sprint. Now next is expect volatility. Ok? See, these are Lynch's tips.
The first one is expect volatility. So the shares of good companies also fall. Falling Price: If the price of any company is falling then now that does not mean that the business is bad. Isn't it ? And suppose some business is bad. So that doesn't mean that its price will always be falling. Isn't it ?
So the investor should understand the difference between the two. Now simple math is not a basically simple math is enough. Sorry. Ok? So look, Lynch was against complex formulas. He used to see how much earnings growth there was. Whether it is a reasonable price or not. Price earnings to growth ratio was used.
So student clarity comes not from complex math but from logic. Now next is turn over many rucks. A This means study more companies. Don't get stuck on just two or three popular stocks. Right? The more you search, the more chances there are that you will be able to buy undervalued stocks at the right time.
Now next is understand the company's products and competitors. Right? So let's say the company's product is good, but the competitor's products are even better. Isn't it ? So in the long term we may face problems somewhere. So that is why industry analysis also becomes very important. Now mutual funds are good for beginners.
So beginners have less time and less experience. That 's why Peter Lynch basically suggests professionally managed mutual funds to beginners. A Now Lynch Court A So look at one of Lynch's quotes is Time is on your side when you own great companies. Right? That if you keep good companies in your portfolio.
Ok? Then it is beneficial for you. Ok? So gradually what basically happens is that time starts moving with you. The company grows. Profits increase and the share price automatically goes up. That means basically time is not your enemy but time is your biggest friend. Right? If you choose great companies.
Now next is the Six Types of Stocks Peter Lynch Classification. So according to Peter Lynch's classification there are six types of stocks. The First One Is Low Growers. Ok? So basically these companies are already big in size. Ok? They are large and have matured. Ok? That's why they don't grow very fast.
So basically, these stocks are perfectly suitable for those investors who are income oriented investors. Now next is Stalves. Ok? So basically these are also market leaders. Ok? So basically these companies give us stable and predictable growth. So basically these stocks come under the defensive investment category.
There are strong brands. There is moderate growth. Ok? These are considered quite good in times of end market uncertainty. Now next is fast growers. Ok? These are basically small or miss mid sized companies. And it is growing very fast. Ok? And see, with high growth comes high expectations. So, suppose if we do the wrong analysis of these companies, then we may incur loss.
Now next is cyclicals. Right? So basically profit moves with the economy. Entry and exit timing becomes crucial here. Ok? That earnings may rise, there may also be a decline within the economy. So basically we should think carefully about this. Regarding entry and time, we have to take decisions very carefully.
Now next is turnarounds. So if the company basically solves the problem then the share price recovers. The risk is high. What are the rewards in these companies? Is greater. Higher the risk, then somewhere or the other they get to see more recovery from it. Now next is Asset Place. Ok? Company Whose Assets Are Undervalued.
Ok? The market ignores the value of assets. When the value is unlocked, the price jumps. So real estate companies come under this. Pete Land Cash. Ok? Now Peter Lynch also pointed out some mistakes that investors make. So look at the stocks you're chasing. Ok? If the investor is following the market crowd, then the chances of loss increase.
Ok ? If so, we should not run towards stocks. Ok? Now next is buying without research. Ok? So Peter Lynch did say do deep research. So if any investor does emotional buying without research. Ok? So, somewhere or the other, there are chances of him failing in the long term. Now next is panicking when the price drops.
Ok? Basically, don't confuse temporary fall and permanent problem. Ok? Ah, if business is still good, hold on. Now next is ignoring day. Ok? That high day basically kills the growth of companies. So many companies collapse because they are too much. Now over diversifying. Ok? So basically, by over-diversifying, the quality analysis gets diluted.
Ah so it is preferred to research stocks well so that you do not keep so many stocks in your portfolio. Keep it small but all of them should be well researched and understood. Ok ? That Peterch used to say that suppose there is a portfolio of one person, suppose there are two people, one of them has only five stocks but they are well researched.
Ok? And the other has 20 stocks in his portfolio. And they are just random. Ok? And the investor does not even understand it. So Peter Lynch says that this portfolio of five stocks is better. Why? Because these five stocks are well researched. So, the secret of success in student investing is discipline, knowledge, patience and emotional control which helps us in generating long term wealth.
So, this is about Pitlunch Investment Strategy. If you have any query, any doubt then you may ask it in the comment section. Thank you so much students.
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