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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Listen to the Intro
One Up On Wall Street summary
Peter Lynch
How to Use what You Already Know to Make Money in the Market
23 mins
What is One Up On Wall Street about?
One Up On Wall Street (2000) is the amateur guide to investing in the stock market successfully. From why professional investors fall short when picking stocks, to how to identify great investment prospects, One Up On Wall Street shares simple yet effective advice for achieving financial success.
Table of Contents
One Up On Wall Street
summarized in 8 key ideas
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Key idea 1 of 8
You have what it takes to beat professional analysts and investors.
Imagine this: You’ve been thinking about investing in stocks for years, and then you finally decide to do it. You find a company with potential and invest some of your extra cash. Then you wait. And sure enough, the company takes off and becomes the hottest thing in the stock market. You end up making ten times what you invested!
Sounds great, doesn’t it?
Well, you can be this successful in the stock market. And, despite what many think, you don’t have to be a Wall Street professional to do it. In fact, being an amateur investor works in your favor.
Wall Street experts are restricted in how they work – and that often prevents them from noticing potential big winners and investing in them. One limitation is that they don’t pay much attention to a stock until it proves its profitability. They see established companies as safe bets, and won’t risk their reputations, or their clients’ money, on the unknowns. Unfortunately, by the time a stock gets Wall Street’s attention, its period of rapid growth has usually come to an end.
Investment professionals have to follow rules and regulations. Some aren’t allowed to invest in certain industries, for example, or in companies that belong to labor unions.
You have neither of these restrictions. And that sounds great. But it doesn’t mean that you should invest immediately. Before you take the leap, you need to consider three things that will determine whether you’re in a position to invest.
The first is whether you own a house. Buying a house is an investment, and it’s not that different from investing in stocks. For example, you need to establish that the house is in good condition; in other words, you need to do the research, just as you would with stocks. Then you have to wait a few years before selling the house and making a profit.
Next, consider whether you have money you can afford to lose. You shouldn’t invest any cash that you’ll need in the near future, like your child’s college fund, for instance.
Finally, you should determine whether you have the qualities of a good investor. These include patience, decisiveness, and flexibility, along with two key abilities – the skills to do your own research and the character to admit when you’re wrong.
You should also be able to ignore gut instincts or feelings of panic, as these can lead to rash investment decisions.
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Who should read One Up On Wall Street?
- Amateur investors looking for success in the stock market
- Finance professionals who want to learn from a leading expert
- Anyone interested in how investments work
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