One Man's Dream in Jan 2000 and the reality, the outcome, and wisdom for his future investing strategy.
Peter Lynch: You don't need a lot in your lifetime. You only need a few
good stocks in your lifetime. I mean how many times do you need a stock to go
up ten-fold to make a lot of money? Not a lot.
I think the secret is if you have a lot of stocks,
some will do
mediocre, some will do okay, and if one of two of 'em go up big time,
produce a fabulous result.
And I think that's the promise to some people.
Some stocks go up 20-30 percent and they get rid of it and they hold onto the
dogs. And it's sort of like watering the weeds and cutting out the flowers.
You want to let the winners run. When the fun ones get better, add to 'em, and
that one winner, you basically see a few stocks in your lifetime, that's all
I mean stocks are out there. When I ran Magellan, I wrote a book.
I think I listed over a hundred stocks that went up over ten-fold when I ran
Magellan and I owned thousands of stocks. I owned none of these stocks. I
missed every one of these stocks that went up over ten-fold. I didn't own a
share of them. And I still managed to do well with Magellan. So there's lots
of stocks out there and all you need is a few of 'em. So that's been my
philosophy. You have to let the big ones make up for your mistakes. In this business if you're good, you're right six times out of ten. You're
never going to be right nine times out of ten. This is not like pure science
where you go, "Aha" and you've got the answer. By the time you've got "Aha,"
Chrysler's already quadrupled or Boeing's quadrupled. You have to take
a little bit of risk.
Uncle8888 has to fully agree with Peter Lych's wise words and his great wisdom on long-term investing success! The Reality, The Truth and The Outcome after 15+ years in Singapore stock market - SGX ...
You don't need a lot in your lifetime. You only need a few
good stocks in your lifetime.- Peter Lych.
Uncle8888 has regretted missed his boat in end 2008/2009 and hope that he will have that great wisdom not to miss the next one and could be well be his last boat! He opened his eyes wide open and aware of paper losses back to Mr. Market are not an illusion; but can potentially change the shape of the wealth pie in his favour!
Another thing he learned that busyness in the stock market may not really build wealth. Taking and giving back will end up nowhere!
I am 61 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and retired @ 60 from full-time job as employee.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 2nd year uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Last updated: 3 Sep 2017
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