Beating the Street

Peter Lynch became a legend in the investment community thanks to his adept management of the Fidelity Magellan Fund — from 1977 to 1990 it became the largest mutual fund in the world. In the book "Beating the Street" are gathered the methods for studying stocks and analyzing the market that Lynch developed over 13 years of hard work. The author offers his own investment strategy for mutual funds and provides tools for those who decide to select stocks independently. He thoroughly analyzes the activities of Fidelity Magellan and explains which investment decisions led to success and what contributed to this.

About half of the book is devoted to practical recommendations — Lynch describes the process of selecting 21 stocks that he recommended to readers of the Barron’s daily in January 1992. The author shares techniques that helped assess the prospects of stocks from various industries and suggests using them when planning one's own strategy.

In 1990, a group of seventh graders from a parish school near Boston achieved record investment returns, outpacing many Wall Street professionals. This confirms Peter Lynch's belief that non-professional investors can succeed in the market even more than highly paid experts. According to Lynch, willpower is no less significant for an investor than trading experience and logic.

The book will serve as a foundation for personal reflections on proper investments for both professional market participants and anyone looking to preserve and grow their savings.