One Up On Wall Street: How to Use What You Already Know to Make Money in the Market by Peter LynchWhile this is a good read, its specific to Peter Lynchs personal investing style and dated enough that its not entirely applicable anymore, so it is better read as a history or biography of Lynchs investing style than a guide on how to make personal investment decisions today. Theres a forward written in 2000 in which Lynch provides one update to his material, but there should have been many more (such as noting what kinds of company information is no longer allowed to be provided only to individuals). In addition, Lynchs poor grasp of basic computer knowledge is embarrassing, even for 2000. Although you can get extremely similar advice from other sources (Lynch is a value investor straight out of The Intelligent Investor, much like Warren Buffett), the advice is still good where you get it:
1) When you buy stock, you are purchasing part ownership in a company and your investing decisions should be made with a focus solely on the value of the company and its business, and not on the movement or price of its stock.
2) That said, you should only buy stock when the price is supported by the value of the company behind it.
3) (Lynchs personal touch) The everyday experiences you have with a company should inform your investing decisions. When you like a companys products and everyone else seems to also, that company makes a good target for investigation for *possible* investment.. AFTER you have verified the value of the underlying business. Conversely, if a business that seems to be doing great but you dont like its products or services and many others agree with you, maybe you should avoid it -- the business may be about to tank.
I still remember reading a blurb from this book in a magazine when I was 12, about how Lynch should have invested in Hanes when his wife came home from the grocery store having bought the new LEggs hose because the quality of the product was good and the delivery mechanism (a grocery store) was way better than the traditional department store. Ive always wondered where that blurb came from, and now Ive finally read it from the source. Thats one more childhood memory reconciled with the larger world!
Shen Li in Wall Street English's "Make It Big" series.
Where is the "big" money now?
The Wall Street Journal just hammered home my point with this scary comparison:. Get it? Wake up! To see why, read these 10 warnings and tips:. If you remember nothing else, burn this into your brain. They studied five fund categories: domestic equities, international-global, corporate bonds, government bonds and tax-free securities. Conclusion: only one had any predictive value: the expense ratio.
Before this comment, I never believed I ratted out the companies I worked for. Discussing an industry is much different from bagging on a specific company. I shared stories about how it was tough work coming in at am and leaving after pm almost every day in NYC. The pressure to perform was immense. But not once have I ever spoken poorly about either of my two employers. How could I, when they took a chance on me for 13 years? You get to make a solid income.
Here is a look at what it takes for an outsider to make it to Wall Street. position at one of the big banks, like Goldman Sachs or JPMorgan.
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Best undergraduate degrees for traders
Wall Street interns are making big bucks; The surprising salaries
There's no doubt that America is enthralled with Wall Street's big hitters. Many of them lead lives that seem more befitting of rock stars than those of MBAs. Making millions is just one benefit of a career that includes rubbing elbows with the rich and famous. Making it big on Wall Street is something that many ambitious professionals set their sights on, especially when they're fresh out of college. But don't expect to find the Wall Street job of your dreams in Sunday's classified section of your local paper. These positions aren't always handed out to the boss's nephew, either, but instead, to those willing to fight tooth-and-nail for a shot.
Even if you have a plum internship on your resume, it can be challenging to land your first investment banking job after graduation. Here are some tips to make sure you give yourself the best chance to land in the best spot on Wall Street after you graduate. For incoming bankers, it is key to start preparing and networking early on, as securing an internship your junior summer is one of the best ways to receive a full-time offer for after graduation, according to Pamela Golding, a vice president at Glocap Search. For most students, applying for a Wall Street banking job is a two-step process where you will need to apply both through your career center and through the bank directly. One mistake that students make is not allowing enough time for this process, according to Janet Raiffa, career coach, the former head of campus recruiting at Goldman Sachs and the former associate director of the Career Management Center at Columbia Business School.