彼得林奇

彼得林奇英文语录1.The person that turns over the most rocks wins the game.2.In this business, if you're good, you're right six times out of ten.3.Everyone has the brainpower to make money in stocks, but not everyone has the stomach.4.Your investor's edge is not something you get from Wall Street experts. It's something you already have.5.The stock market is filled with individuals who know the price of everything, but the value of nothing.6.The stock market is a device for transferring money from the impatient to the patient.7.Behind every stock is a company. Find out what it's doing.8.There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating.9.If you can't find any companies that you think are attractive, put your money in the bank until you discover some.10.In the long run, a portfolio of well-chosen stocks and/or equity mutual funds will always outperform a portfolio of bonds ora money-market account.11.If you don't study any companies, you have the samesuccess buying stocks as you do in a poker game if you bet without looking at your cards.12.In the short run, the market is a voting machine, but in the long run, it is a weighing machine.13.Go for a business that any idiot can run –because sooner or later, any idiot probably is going to run it.14.If you have the stomach for stocks, but neither the time nor the inclination to do the homework, invest in equity mutual funds.15.The more time you have to spend worrying about your portfolio, the less time you’ll have to spend enjoying your money.16.The best stock to buy may be the one you already own.17.Buy a stock the way you would buy a house. Understand and like it such that you'd be content to own it in the absence of any market.18.Investing without research is like playing stud poker and never looking at the cards.19.The key to making money in stocks is not to get scared out of them.20.Your investor's edge is not something you get from an education. It's something you bring to the table.21.A big part of successful investing is just avoiding disasters.22.If you are prepared to invest in a company, then you oughtto be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won’t get bored.23.Go for a business that any idiot can run –because sooner or later, any idiot probably is going to run it.24.The simpler it is, the better I like it.25.During the gold rush, most would-be miners lost money, but people who sold them picks, shovels, tents and blue-jeans (Levi Strauss) made a nice profit.26.Investing should be more like watching paint dry or watching grass grow. If you want excitement, take 800 and go to Las Vegas.27.The stock market is filled with individuals who know the price of everything, but the value of nothing.28.Time is on your side when you own shares of superior companies.29.You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.30.The key to making money in stocks is not to get scared out of them.31.Know what you own, and know why you own it.32.There are no shortcuts to getting rich.33.Although it’s easy to forget sometimes, a share is not a lottery ticket... it’s part-ownership of a business.34.I never invest in anything I don't understand.35.Investing without research is like playing stud poker and never looking at the cards.36.Your investor's edge is not something you get from Wall Street experts. It's something you already have.37.People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences.38.Investing in stocks is an art, not a science, and peoplewho've been trained to rigidly quantify everything have a big disadvantage.39.If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won't get bored.40.The traditional investment approach, focused on minimizing risk, will prove, over time, to be a sure way to lose purchasing power.41.Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.42.Beating the market is partly a matter of trial and adjustment.43.All of us are proud fans of technology, but technology is no substitute for valuation.44.All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical system, for example, is so valuable. It cuts down emotion.45.My biggest mistake is probably weighing the conviction of my beliefs too heavily in favor of personal experience.46.Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.47.Finding opportunities requires a deep understanding of industries, companies, people, and psychology.48.Behind every stock is a company. Find out what it’s doing.49.The basic story remains simple and never-ending. Stocks aren’t lottery tickets. There’s a company attached to them.50.No one really knows what’s going to happen in the next three months or six months. You never do.51.In this business, if you’re good, you’re right six times out of ten.52.The successful investor is usually an individual who is inherently interested in business problems.53.If you don’t study any companies, you have the same success buying stocks as you do in a poker game if you bet without looking at your cards.54.If you can’t stomach a 50 fall in a stock, the stock market is no place for you.55.There is always something to worry about. Avoid weekend thinking and ignore the latest dire predictions of the newscasters.56.Forget the economy, focus on individual stocks.57.Absent a lot more accompaniment by lower price/earnings ratios, in the future, returns will be less rewarding than they have been over the past several years58.I just always believe you can find something in the market every single day.59.People somehow think you must buy at the bottom and sell at the top to be successful in the stock market. That’s nonsense!60.More money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.61.The stock market is filled with individuals who know the price of everything, but the value of nothing.62.Investing without research is like playing the roulette wheel.63.You get recessions, you have stock market declines. If youdon't understand that's going to happen, then you're not ready, you won't do well in the markets.64.A stock market decline is as routine as a January blizzard in Colorado. If you're prepared, it can't hurt you. It's like having a sale at Macy's. If you're prepared, the guy next to you, who isn't prepared, is going to pay more than you.65.Your investor's edge is not something you get from Wall Street experts. It's something you already have. You can outperform the experts if you use your edge by investing in companies or industries you already understand.66.The stock market is filled with individuals who know the price of everything, but the value of nothing.67.If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes.68.You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.69.The simpler it is, the better I like it.70.In the long run, it's not just how much money you make, but how much money you keep.71.When stock prices are low, fear is widespread, and there's nothing you can imagine that won't be discussed. At that time,everything seems like a potential banana peel.72.The fastest way to end a bear market is to start a bull market.73.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.74.The key to making money in stocks is not to get scared out of them.75.There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating.76.The more time you spend in this business, the better investor you become.77.Investing should be more like watching paint dry or watching grass grow. If you want excitement, take 800 and go to Las Vegas.78.A weak economy doesn't mean a weak currency.79.It's not whether you're right or wrong that's important, but how much money you make when you're right and how much money you lose when you're wrong.80.You buy a stock when the quarterlies are terrible, and everybody says they hate it. Then, you sell it when the approval's all over the front pages and everybody says they own it.81.The stock market is filled with individuals who know theprice of everything, but the value of nothing.82.Far more money has been lost by investors preparing for corrections or trying to anticipate corrections than has been lost in corrections themselves.83.In the stock market, the most important organ is the stomach. It's not the brain.84.Owning stocks is like having children - don't get involved with more than you can handle.85.You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.86.Your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed.87.The best stock to buy may be the one you already own.88.Frequently, I’m asked if there is one common mistake that all investors make. My response is usually that they tend to get too emotional. Indeed, the investor’s chief problem and even his worst enemy is likely to be himself.89.The older I get, the smarter my father seems to get.90.Spend at least as much time researching a stock as you would choosing a refrigerator.91.The key to making money in stocks is not to get scared out of them.92.On the average, people have moved their money into bonds and out of stocks five times more often than stocks have moved into bonds.93.The overwhelming majority of people will always follow the crowd, and for the rest, it still seems impossible to enforce discipline upon yourself.94.If you’re worried about missing it, take a percentage of what you would invest and invest it now.95.Market timing is a wicked and elusive beast. The inability of most timers to predict markets in any predictable way explains why investors have earned higher returns from their mutual funds than have mutual funds from their investors.96.If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes.97.I’m always more interested in who’s stating the facts than in what the facts actually are.98.The best way to gauge the mood of institutional investors is to watch the mutual fund asset levels. The mood can change long before the market does.99.The more that prices fluctuate, the more speculative stocksmay look attractive, because large earnings can be expected. But one of the primary rules of highly successful investors is that speculation leads to losses.100.Not everybody has to be an expert on stocks, but being conversant in the essentials of investing is important because you have to understand your own investment decisions and you should be able to explain them to others.101.Investing without research is like playing stud poker and never looking at the cards.102.Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it.103.Your investor's edge is not something you get from Wall Street experts. It's something you already have. You can outperform the experts if you use your edge by investing in companies or industries you already understand.104.We've long felt that the only value of stock forecasters is to make fortune tellers look good.105.The stock market is filled with individuals who know the price of everything, but the value of nothing.106.More money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in the corrections themselves.107.The key to making money in stocks is not to get scared out of them.108.People who succeed in the stock market also accept periodic bouts of abject terror.109.The stock market is not a risk-free way to make money, but it's the best way.110.If you don't study any companies, you have the same success buying stocks as you do in a poker game if you bet without looking at your cards.111.I think you have to learn that there's a company behind every stock, and that there's only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.112.The stock market is a giant distraction to the business of investing.113.All you need for a lifetime of successful investing is a few big winners, and the pluses from those will overwhelm the minuses from the stocks that don't work out.114.Far more money has been lost by investors preparing for corrections or trying to anticipate corrections than has been lost in the corrections themselves.115.Bull markets go to people's heads. If you're a duck on apond, and it's rising due to a downpour, you start going up in the world.116.Investing in stocks can be highly rewarding because the best prospects can outperform the average stock by a factor of2-to-1 or 5-to-1 or greater.117.If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.118.Know what you own, and know why you own it.119.Investing should be more like watching paint dry or watching grass grow. If you want excitement, take 800 and go to Las Vegas.120.The trick is not to learn to trust your gut feelings, but rather to discipline yourself to ignore them.121.Investing without research is like playing stud poker and never looking at the cards.122.You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.123.All stock investors are gamblers because it's a zero-sum game...124.All normal people hate bear markets. I hate them myself but that's the way the system works. And who doesn't love abargain?125.People with a growth mindset believe that they can improve their abilities over time. This belief leads to a desire to learn and a tendency to embrace challenges and persevere in the face of obstacles.126.The stock market is filled with individuals who know the price of everything, but the value of nothing.127.Market timing is a wicked idea. Don't try it; you'll drain away your IQ.128.Your life doesn’t get better by chance, it gets better by change.129.To make money in stocks you must have the vision to see them, the courage to buy them and the patience to hold them.130.If you have more than 120 or 130 I.Q. points, you can afford to give the rest away.131.Legendary investments are made by buying what everyone hates.132.The market is filled with people who know the price of everything but the value of nothing.133.Behind every stock is a company. Find out what it's doing.134.If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth gradercould understand, and quickly enough so the fifth grader won't get bored.135.Predicting rain doesn't count. Building arks does.136.Too often, investors buy stocks based on a headline result and then sell the stock based on short-term volatility or negative news stories. Take a long-term view and be patient to see the real value unfold.137.Long-term success in the market demands a consistent approach, not chasing after the latest hot stock.138.Success in the stock market doesn't require an extraordinarily high IQ or exceptional business insights. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework.139.When markets go down, you must resist the urge to sell. When markets go up, you must resist the urge to buy.140.Nobody can predict interest rates, the future direction of the economy or the stock market. Dismiss all such forecasts and concentrate on what's actually happening to the companies in which you've invested.。

《彼得林奇的成功投资》读书笔记《彼得林奇的成功投资》读书笔记彼得林奇在第一部分主要讲述了他是如何从一个股票菜鸟一步步进入到股票界的故事。

他的投资知识主要是在他当高尔夫球童的过程当中习得的。

在他当球童的过程中，接触了非常多的商界大亨，通过听那些有钱人的聊天和对话，了解股票和公司的发展状况，从而习得了很多的投资知识。

球童的工作经历让他收到了股票知识耳濡目染的影响。

通过阅读第一部分呢，我有以下的心得体会：首先，彼得林奇是一个善于进步，善于学习的人。

他与其他球童的不同之处就在于他明白做事情的过程中能够总结出很多的方法和技巧，例如哪些人可以学到更多的知识，从哪些人那里能够得到更多的小费，并从中不断的汲取有用的知识和信息。

他的经历告诉我们，人在任何条件下都可以从身边学习到很多的知识和技能，就看你是否是一个对外界充满好奇并不断学习进取的人。

其次，他的经历告诉我们，你的大脑中装有什么样的内容，很大程度上有两方面决定，一是你的大脑愿意吸收什么样的内容和知识，另一方面取决于你处于什么样的环境当中，因此，正确的态度和一个积极向上的环境是我们成功必须具备的条件，只有保持不断学习的能力，我们才能不断进步，向成功更进一步。

再次，第一部分还讲述了一个现象，即林奇定律，大致意思就是林奇每次处于他人生的上升阶段，例如工作处于一个新的阶段的时候，股票就会产生剧烈的暴跌情况。

这个定律是林奇自己结合了自身和股票的涨跌情况而做出的预测。

最后，他还讲述了他选股的方法，以他选的第一支涨了三倍的股票为例，首先是要对所选股票进行深度的了解和剖析，对公司的基本面有一个详细的了解，在此基础上进行选择和投资，当然，他选择的股票的偶然性也很大，他选择的是当时的热股，后来是因为他投资的航空公司参与了军事运输而赚的盆钵皆满。

其次是他挑选基金的过程，他在买基金的时候，正是股市暴跌的时候，按照他的说法就是，他觉得每一只股票都被过低的估值了，因此他买了几百只基金，当然，他选的几百只基金并非不明智的胡乱购买，同样是经过用心的挑选和了解的。

关于彼得林奇的四个理财忠告一般人谈到理财，想到的不是投资，就是赚钱。

实际上理财的范围很广，理财是理一生的财，也就是个人一生的现金流量与风险管理。

我们应该怎样理财?彼得林奇告诉你。

彼得林奇的四个理财忠告不要相信各种理论多少世纪以前，人们听到公鸡叫后太阳今日焦点：广告升起，于是认为太阳之所以升起是由于公鸡打鸣。

今天，鸡叫如故。

但是每天为解释股市上涨的原因及华尔街产生影响的新论点，却总让人困惑不已。

比如：某一会议赢得大酒杯奖啦，日本人不高兴啦，某种趋势线被阻断啦，“每当我听到此类理论。

我总是想起那打鸣的公鸡”。

不要相信专家意见专家们不能预测到任何东西。

虽然利率和股市之间确实存在着微妙的相互联系，我却不信谁能用金融规律来提前说明利率的变化方向。

犹太人深信「致富是可以后天教出来的」。

他们相信得来不易，而且必须从小培养下一代致富的观念，在他们流浪的宿命里，他们不是异国的寄居者，而是掌握、掌握，信奉「塔木德」的独特民族。

不要相信数学分析“股票投资是一门艺术，而不是一门科学”。

对于那些受到呆板的数量分析训练的人，处处都会遇到不利因素，如果可以通过数学分析来确定选择什么样的股票的话，还不如用电脑算命。

选择股票的决策不是通过数学做出的，你在股市上需要的全部数学知识是你上小学四年级就学会了的。

不要相信投资天赋在股票选择方面，没有世袭的。

尽管许多人认为别来就是股票投资人，而把自己的失利归咎为悲剧性的天生缺陷。

我的历程说明，事实并非如此。

在我的摇篮上并没有吊着股票行情收录机，我长乳牙时也没有咬过股市交易记录单，这与人们所传贝利婴儿时期就会反弹足球的早慧截然相反。

感谢您的阅读，祝您生活愉快。

彼得林奇卖出股票标准
彼得·林奇是一位著名的投资者和基金经理，他提出了许多关
于股票投资的理论和策略。

在他的著作《一只股票的诞生》中，他
提出了一些卖出股票的标准，主要包括以下几点：
1. 公司基本面恶化，如果投资者持有的公司出现了基本面恶化
的情况，比如营收下滑、利润下降、负债增加等，这可能是卖出的
信号。

林奇强调要密切关注公司的财务状况和经营业绩，及时调整
投资组合。

2. 股价超过合理价值，林奇提倡价值投资，他认为投资者应该
关注公司的内在价值，如果股价已经远远超过了公司的真实价值，
可能是时候考虑卖出了。

3. 行业前景不佳，如果投资者持有的公司所在的行业面临不利
因素，比如技术落后、市场饱和、法规限制等，林奇建议考虑卖出。

4. 个人资金需求，如果投资者有其他急需资金的地方，比如支
付债务、应对突发事件等，可以考虑卖出股票来满足资金需求。

5. 技术指标发出卖出信号，林奇也关注股票的技术指标，比如均线、成交量等，如果这些指标发出了明确的卖出信号，也是他卖出股票的考虑因素之一。

总的来说，彼得·林奇卖出股票的标准是基于对公司基本面、股价估值、行业前景、个人资金需求和技术指标等多方面的综合考量。

投资者可以根据这些标准，结合自己的投资目标和风险偏好，制定适合自己的卖出策略。

彼得林奇的财务分析指标财务分析是评估公司财务状况和经营绩效的重要工具。

彼得林奇是一位著名的投资者和基金经理，他提出了一些重要的财务分析指标，用于评估公司的投资价值和盈利能力。

下面将详细介绍彼得林奇的财务分析指标。

一、市盈率（P/E Ratio）市盈率是一个重要的财务指标，它反映了市场对公司未来盈利能力的预期。

市盈率的计算公式为：市盈率 = 公司市值 / 公司净利润。

彼得林奇认为，低市盈率的公司可能是被低估的投资机会，因为市场对其未来盈利能力持悲观态度，而实际上公司的盈利能力可能被低估。

二、PEG比率（PEG Ratio）PEG比率是市盈率相对于公司的盈利增长率的比值。

它的计算公式为：PEG比率 = 市盈率 / 盈利增长率。

彼得林奇认为，PEG比率可以匡助投资者评估公司的投资价值，一个较低的PEG比率意味着投资回报周期较短，投资价值较高。

三、市净率（P/B Ratio）市净率是衡量公司市值与净资产之间关系的指标。

市净率的计算公式为：市净率 = 公司市值 / 公司净资产。

彼得林奇认为，低市净率的公司可能是被低估的投资机会，因为市场对其净资产价值持悲观态度，而实际上公司的净资产价值可能被低估。

四、股息收益率（Dividend Yield）股息收益率是衡量公司派发给股东的股息相对于股价的比率。

股息收益率的计算公式为：股息收益率 = 每股股息 / 股票价格。

彼得林奇认为，高股息收益率的公司可能是价值投资的机会，因为其股息收益率较高，可以提供稳定的现金流回报。

五、营业利润率（Operating Margin）营业利润率是衡量公司每一单位销售收入中的利润比例。

营业利润率的计算公式为：营业利润率 = 营业利润 / 销售收入。

彼得林奇认为，高营业利润率的公司可能是优质的投资机会，因为其能够在销售中获得较高的利润。

六、资产周转率（Asset Turnover）资产周转率是衡量公司利用资产创造销售收入的能力。

资产周转率的计算公式为：资产周转率 = 销售收入 / 总资产。

《彼得·林奇的成功投资》第 1 章我是如何成长为一个选股者的1选股全然没有什么家传要领。

很多人往往把自己投资亏损归咎于某些天生不足，以为其他人投资成功是因为他们天生确实是一块投资的料，可是我个人的经历却完全否定了这种说法。

我一点儿也不像人们所想象的那样犹如球王贝利仍是婴儿时就会玩足球那样天生早慧，我躺在摇篮里的时候全然没摸过什么股票自动行情报价机，我的乳牙方才长出时也从没有咬过什么报纸上的股票专版。

据我本人所知，我即将诞生时，我父亲从来没有离开过等候区一步去探问通用汽车公司股价的涨跌如何，而我的母亲在阵痛期间也从来没有问过一句美国电报公司（AT&T）的分红是多少。

我也是后来才明白，1944年1月19日我诞生的那一天，道琼斯工业平均指数下跌，而且在方才诞生的我还呆在医院里的那一周内，股市进一步下跌，这是林奇定律（Lynch Law）发生作用的最先例证，尽管那时仍是婴儿的我全然不可能会想到这一点。

林奇定律与闻名的彼得原理（Peter Principle）所描述的“职务上升能力下降”超级类似，林奇定律所描述的是：林奇高升，股市下跌。

（最近一次的例证是，1987年夏天我方才和出版商达本钱书的出版协议，我的职业生涯达到了一个顶峰，但是随后两个月内股票指数下跌了1000点，因此，若是有人要购买本书的电影改编版权的话，我必然会再三慎重考虑是不是许诺。

）我的亲戚们大多数都对股票市场持有一种不信任的态度，之因此如此是因为他们亲眼目击了股市暴跌的严峻冲击。

我母亲是她家七个子女中年纪最小的一个小孩，也确实是说在20世纪30年代的经济大萧条期间，我的姨母和舅舅都已经长大成人了，他们亲躯体验到1929年股市大崩盘给投资股市的人带来的毁灭性冲击，因此在咱们那个家族里从来没有一个亲戚会推荐股票。

我听说过在我的亲戚中唯一一个购买过股票的人是我的外祖父吉恩&S226;格里芬（Gene Griffin），那次他购买的是城市效劳公司（Cities。

彼得林奇投资名言[ 标签 : 栏目 ]，彼得林奇投资名言1、难怪人们在房地产市场上赚钱而在股票市场上赔钱。

他们选择房子时往往要用几个月的时间，而选择股票只用几分钟。

事实上，他们在买微波炉时花的时间也比选择股票时多。

2、让时间和金钱去工作，你只要坐下来等候结果。

3、不要相信数学解析。

“股票投资是一门艺术，而不是一门科学”。

对于那些遇到古板的数目解析训练的人，到处都会遇到不利要素，假如可以经过数学解析来确立选择什么样的股票的话，还不如用电脑算命。

选择股票的决策不是通过数学做出的，你在股市上需要的所有数学知识是你上小学四年级就学会了的。

4、当你拥有好企业股票时，时间站在你这一边，你要有耐心——即便你在头 5 年中错过了沃尔玛特股票，但在下一个 5 年它还是大赢家。

5、投资是令人激动和快乐的事，但假如不作数备，投资也是一件危险的事情。

6、最 ** 的圈套就是买到令人振奋却没有盈余的企业股票，以及廉价的统计数字。

7、股票投资和减肥相同，决定最后结果的是耐心，而不是脑筋。

8、没有人可以展望利率、经济形势及股票市场的走向，不要去搞这些展望。

会合精力认识你所投资的企业状况。

9、我投资组合最好的企业常常是购股三五年才收益大增而不在三五个礼拜以后。

10、个别投资人的优势在于他没有时间压力，可以认真思虑，等候最好机遇。

假如要他每礼拜或每个月都要买卖股票，他必定会发疯的。

11、解析三家企业，你会发现 1 家基本状况超出预期；解析六家，就能发现5家。

在股票市场总能找到不测的惊喜——企业成就被华尔街低估的股票。

12、股市下跌就像科罗拉多一月的狂风雪相同平时，假如你有准备，它其实不能损害你。

下跌正是机遇，去捡那些慌张逃离风暴的投资者丢掉的廉价货。

每个人都有炒股赚钱的脑力，但不是每一个人都有这样的胆量。

假如你动不动就闻气而逃，你不要碰股票，也不要买股票基金。

13、每支股票后边都有一家企业，认识企业在干什么！你得认识你拥有的（股票）和你为何拥有它。

大师语录--彼得林奇1内容：假如我有一块钱，把它给了你，那一块钱就变成你的了，但假如我给你的是一种观念，那我们两人便同时拥有它了。

背景：彼得．林区强调投资观念的重要性。

--------------------------------------------------------------------------------2内容：股市要求坚定的信心，没有信心者必将灭亡。

背景：彼得．林区在One Up On Wall Street一书中所说的话。

--------------------------------------------------------------------------------3内容：我喜欢买连猴子都可以经营的公司，因为有一天这些公司搞不好真的会由猴子来经营。

背景：彼得．林区强调选择公司本身利基的重要性。

--------------------------------------------------------------------------------4内容：假如股票下跌，但基本面仍看好，就不该卖掉，甚至要加码买进。

背景：彼得．林区强调依基本面建立投资组合的重要性。

--------------------------------------------------------------------------------5内容：我的竞争对手大多不去找买进的原因，而专找不买的原因，这就是我的优势所在。

背景：彼得．林区在New Money Masters一书中谈到一般法人机构投资者的盲点。

--------------------------------------------------------------------------------6内容：股市下跌正是捡便宜的好时机，这些便宜货是那些惊慌中逃离风暴圈的投资人所丢出来的。

背景：彼得．林区强调如何理性判断买进时机。

重读经典——彼得林奇《战胜华尔街》上：分散投资⼤师每次重读经典，都会获得不同的感悟。

在林奇的两⼤名著中⾸先选择重读《战胜华尔街》，是因为坊间对林奇在富达基⾦的后期，是否继续保持了分散投资的风格颇有些争议，还是仔细看看林奇⾃⼰的回忆吧。

作为⼀名分散投资的爱好者，看到林奇先⽣的持股数量，仍旧会瞠⽬结⾆。

1977年，林奇接受麦哲伦基⾦，当时基⾦的盘⼦不到2000万美⾦，在不到⼗个⽉的时间内，投资了近50种股票，换⼿率⾼达343%（其后三年⼤致保持在300%），当年道琼斯指数下跌了17.6%，⽽麦哲伦基⾦净值增长了20%。

由于交易太过频繁，使得林奇在写年报时不得不费尽⼼思，以便让阅读年报的投资者认识到，林奇频繁买进卖出是合情合理的。

到了1981年，也就是进⼊林奇执掌麦哲伦的中期，他已经变成了⼀个在股票投资上更加有耐⼼的投资者，基⾦的年换⼿率下降到了110%。

林奇先⽣表⽰：现在我持仓最⼤的重仓股会好⼏个⽉持续保持不变了。

呵呵，这个持股时间貌似也不长啊。

当然到了林奇基⾦经理⽣涯的后期(书中翻译为晚期，感觉有些不爽），对重仓股的持有时间⼤⼤加长。

林奇先⽣的持股耐⼼确实是逐步增强了，不过分散投资的风格并没有太⼤的改变，1983年中期，麦哲伦基⾦组合中有450种股票，到了秋季达到900只。

不过，这还没有结束，麦哲伦投资组合后来更是多达1400只股票。

以⾄于林奇先⽣不得不出⾯解释这种局⾯：”在1983年我的投资组合持有的900只股票中，有700只股票加在⼀起还不到基⾦的10%。

”进⼀步挖掘，发现林奇先⽣的1400种股票中，份额最⼤的100种代表着总资产的50%，最⼤的200种代表着总资产的三分之⼆。

只是这仍然可以被认为是极度分散的投资模式。

林奇先⽣在进⼀步解释其分散投资的原因时，提到了两点：⼀是受基⾦规则限制，很多⼩公司，即使持股达到这公司股本10%的上限，占⽤的资⾦也相当⼩。

⽐如80年代中期，林奇看好储蓄与贷款协会的股票，由于这些公司⼤多数盘⼦都很⼩，只能成批成批的买进，⼀共买进了100只，⽽这些全加起来占到基⾦总投资的3%；⼆是对于⽆法确定是否真的值得⼤规模投资的企业，先持有⼀些股票，便于关注研究。

《战胜华尔街：彼得林奇选股实录》读书记录目录一、内容概览 (2)1.1 书籍简介 (3)1.2 作者背景 (4)二、选股策略 (4)2.1 基本原则 (6)2.2 行业分析 (7)2.3 公司分析 (8)2.4 财务指标 (10)三、股票选择与投资组合管理 (11)3.1 优选股票 (12)3.2 投资组合的构建与调整 (13)3.3 风险控制 (14)四、实战案例分析 (15)4.1 案例一 (16)4.1.1 公司概况 (17)4.1.2 投资过程 (18)4.1.3 结果分析 (20)4.2 案例二 (21)4.2.1 公司概况 (22)4.2.2 投资过程 (23)4.2.3 结果分析 (24)五、总结与启示 (25)5.1 本书总结 (26)5.2 对投资者的启示 (27)一、内容概览《战胜华尔街：彼得林奇选股实录》是一本关于投资策略和股票市场的经典著作。

本书由著名的投资家彼得林奇所著，书中详细阐述了林奇的投资哲学、选股方法和实战案例。

读者可以深入了解股票市场的基本原理和投资技巧，以及如何在激烈的市场竞争中取得优势。

投资哲学：介绍了彼得林奇的投资理念，包括长期投资、价值投资、成长股投资等。

成功的投资需要坚定的信念和长期的投资视野，同时要注重基本面分析和风险控制。

选股方法：详细阐述了林奇的选股策略，包括行业选择、公司分析、财务分析、市场趋势分析等方面。

林奇注重从多个角度对股票进行全面分析，以寻找具有成长潜力和价值优势的投资标的。

实战案例：通过多个实际案例，展示了林奇的投资过程和决策依据，让读者了解如何在实战中应用选股方法和投资哲学。

这些案例包括成功和失败的案例，让读者从中学到经验和教训。

市场趋势：分析了股票市场的历史演变和未来发展趋势，以及投资者如何应对市场变化。

要灵活应对市场变化，不断调整投资策略和组合配置。

本书不仅适合投资者阅读，也适合金融从业人员、经济学者等人士参考。

通过阅读本书，读者可以深入了解股票市场的运作机制和投资技巧，提高自己的投资能力和风险意识。

彼得.林奇选股策略第一部分：投资哲理当前那些著名的投资者中，彼得林奇的名声几乎无人能敌。

这不仅仅在于他的投资方式成功通过了实践的检验，而且他坚定的认为，个人投资者在运用他的投资方法时，较华尔街和大户投资者更具独特优势，因为个人投资者因为不受政府政策及短期行为的影响，其方法运用更加灵活。

林奇在富达基金管理公司总结出了自己的投资原则，并且在管理富达的麦哲伦基金中逐渐享誉盛名。

自他1977开始管理这只基金到1990年退休，该基金一直位居排名最高的股票型基金行列。

林奇的选股切入点严格遵循自下而上的基本面分析，即集中关注投资者自己所熟悉的股票，运用基本分析法以更全面的理解公司行为，这些基础分析包括：充分了解公司本身的经营现状、前景和竞争环境，以及该股票能否以合理价格买入。

其基本战略在他最畅销的一本书“One Up on Wall Street”[Penguin Books paperback, 1989]里有详尽描述.，这本书在帮助个人投资者理解并运用他的方法上给予诸多指导。

他最近的一本书“Beating the Street "[[Fireside/Simon & Schuster paperback, 1994]则进一步强调了他第一本书的主题，并提供了他在投资中如何选择公司及行业的具体案例。

彼得.林奇）不要相信专家意见彼得·林奇是华尔街著名投资公司麦哲伦公司的总经理。

上任几年间他便将公司资产由2000万美元增长至90亿美元，《时代》周刊称他为"第一理财家"，《幸福》杂志则赞誉他为"股票投资领域的最成功者……一位超级投资巨星"。

他在投资理念上有自己独到的见解，也许能给投资理财者一些启发。

一、不要相信各种理论。

多少世纪以前，人们听到公鸡叫后太阳升起，于是认为太阳之所以升起是由于公鸡打鸣。

今天，鸡叫如故。

但是每天为解释股市上涨的原因及华尔街产生影响的新论点，却总让人困惑不已。

彼得林奇的财务分析指标彼得·林奇（Peter Lynch）是一位著名的投资家和基金经理，他以其成功的投资策略和财务分析指标而闻名。

彼得·林奇的财务分析指标是投资者在评估和选择投资标的时可以使用的一组指标，能够匡助投资者更好地理解和评估公司的财务状况和潜在投资机会。

下面将为您详细介绍彼得·林奇的财务分析指标。

1. P/E比率（市盈率）：P/E比率是投资者最常用的财务指标之一。

它被用来衡量一家公司的股价相对于其每股收益的溢价程度。

普通来说，较低的P/E比率意味着股票被低估，而较高的P/E比率则意味着股票被高估。

彼得·林奇认为，低估的股票可能是潜在的投资机会。

2. 成长率：成长率是衡量一家公司盈利增长速度的指标。

彼得·林奇认为，寻觅具有良好成长前景的公司是投资者的一项重要任务。

他鼓励投资者寻觅那些具有高盈利增长率的公司，因为这些公司往往能够提供更好的投资回报。

3. 资产负债比率：资产负债比率是衡量一家公司财务稳定性的指标。

它表示公司负债与资产的比例。

彼得·林奇认为，投资者应该寻觅那些资产负债比率较低的公司，因为这些公司更有可能在面临经济难点时保持稳定。

4. 现金流量：现金流量是衡量一家公司现金流入和流出情况的指标。

彼得·林奇认为，现金流量是评估一家公司财务状况的重要指标。

他建议投资者关注公司的自由现金流，即扣除了运营和投资活动后剩余的现金流。

较高的自由现金流通常意味着公司有更多的资金用于发展和回报股东。

5. ROE（净资产收益率）：ROE是衡量一家公司利润相对于其股东权益的比例的指标。

彼得·林奇认为，高ROE意味着公司能够高效地利用股东资金创造利润。

他建议投资者寻觅那些ROE较高的公司，因为这些公司可能是潜在的投资机会。

6. 产业地位：产业地位是衡量一家公司在其所在行业中的竞争地位的指标。

彼得·林奇认为，投资者应该寻觅那些在其所在行业中具有竞争优势和市场份额的公司。

《彼得林奇的成功投资》One Up in Wall StreetPeter Lynch：生于1944年，15岁开始小试投资赚取学费，1968年毕业于宾夕法尼亚大学沃顿商学院，取得MBA学位。

1969年，林奇进入富达公司。

1977——1990年期间他一直担任富达公司旗下麦哲伦基金的经理人。

在这13年期间，他使麦哲伦基金的管理资产从2000万美元增至140亿美元。

年平均复利报酬高达29%，几乎无人能出其右，麦哲伦基金也由此成为世界上最成功的基金，投资绩效名列第一。

1990年，彼得林奇退休，开始总结自己的投资经验。

陆续写出《彼得林奇的成功投资》《战胜华尔街》《学以致富》。

Contents:第一部分：投资准备第一章：我是如何成长为一个选股者的第二章：专业投资者的劣势第三章：股票投资时赌博吗第四章：进入股市前的自我测试第五章：不要预测股市第二部分：挑选大牛股第六章：需找十倍股第七章：6种类型公司股票第八章：13条选股准则第九章：我避而不买的股票第十章：收益、收益还是收益第十一章：下单之前沉思两分钟第十二章：如何获得真实的公司信息第十三章：一些重要的财务分析指标第十四章：定期重新核查公司分析第十五章：股票分析要点一览表第三部分：长期投资第十六章：构建投资组合第十七章：买入和卖出的最佳时机组合第十八章：12种关于股价的最愚蠢且最危险的说法第十九章：期权、期货与卖空交易第二十章：5万个专业投资者也许都是错的Some good words:*要避免以高得离谱的股价买入一家未来发展前景虚无缥缈的公司股票而亏得很惨的结局，投资者可以采取以下三种投资策略：一、（picks and shovels）投资策略。

二、投资于“可以一分钱不花就能拥有其互联网业务”（free Internet play）的公司。

三、投资于因互联网发展而“附带收益”（tangential benefit）的公司，指传统的“砖头水泥”的实业公司通过使用互联网而削减的成本，简化了业务流程，提高了经营效率，从而实现了盈利能力的大幅增长。