One Up on Wall Street by Peter Lynch Book Review and Giveaway


One Up on Wall Street: How to Use What You Already Know to Make Money in the Market

was a book I got on Amazon.ca.  I didn't know that it was going to be so wee in size when it came in the mail.  It's quite cute- like a pocket book!  It's the Miniature Edition of the his New York Times Bestseller book.

Contrary to popular belief that size matters (wink wink nudge nudge), this book, even though it's small, is jam-packed with lots of good information.

Peter Lynch is famous for writing Beat the Street and Learn to Earn.  He's the vice-chairman of Fidelity Management.

In this no-nonsense easy to read book he talks about:

  1. Preparing to Invest– he says that the term “professional investor” is actually an oxymoron- that there are good ones and bad ones, and we shouldn't put fund managers on pedestals, without adding a touch of skepticism.  He says it's important to only invest in what you can afford to lose without that loss having an effect on your daily life in the foreseeable future.
  2. Picking Winners– He gives you tips on how to stalk the “tenbagger” (the stock that will give you 10x return on your inveestment) that the McDonald's and Coca Colas started off somewhere, and the keen investor should keep an eye out for those new local companies.  A couple huge tips I would like to share are: “Companies that have no debt can't go bankrupt” and “look for companies that consistently buy back their own shares” and “invest in at least as much time and effort in choosing a new stock as you would in a new refrigerator”.
  3. The Long Term View– Peter shares the secret about when to sell a Slow Grower, a Stalwart, a Cyclical, a Fast Grower, a Turnaround, and an Asset Play.

  4. He also mentions Twelve Silliest Things that People Say about Stock Prices like “Eventually they always come back” or “It's only $3 a share, what can I lose?
  5. And finally talks about some reminders to be aware of, like “market declines are great opportunities to buy stocks in companies you like.  Corrections- Wall Street's Definition of going down a lot- push outstanding companies to bargain prices”.

Even though it's so short and sweet, I give this book a 9/10 for being very informative, cutting the jargon and nonsense and delivering an easy to read book packed with good tidbits for any market investor.  Really, not one word is wasted in this book!

So without further adieu, here's your chance to win a copy of this book (which is my copy, mint condition)!  It's worth a whopping $4.95. It's my first ever give-away, so bare with me… the contest prizes will hopefully get a little more fruitful as time goes by.

“One Up on Wall Street” Contest Rules:

To win, please subscribe to Young and Thrifty either by email updates or RSS and follow me on twitter (yes, I'm demanding, I know!).  Please also comment below so I can contact you in the event you win (and mail out the prize!).  If you already have subscribed and are already following me on twitter- thank you!- just leave a comment below so I know to add you to the contest =)

To win an extra entry, please tweet to your followers:

” @youngandthrifty Book Giveway: “One Up on Wall Street” miniature edition by Peter Lynch http://bit.ly/aM5xjf

The winner will be selected by random.org.

You have until April 1, 2010 at midnight PST (west coast time) to enter

The winner will be announced next week and I'll contact you by email.

Good Luck! It's a great book!

15 Comments

  1. Money Reasons on March 25, 2010 at 4:10 pm

    Awesome book! I have that one and “Beat the Street”

    I have talked about my 2 favorite financial heroes before, but Peter Lynch might by my third…

    Congrats on reading about Mr. Lynch and his adventures with the Fidelity Magellan Fund.

    Hmmm, I think I’ll tweet this 🙂



  2. FinEngr on March 25, 2010 at 4:28 pm

    Congrats on the giveaway!

    Registered via RSS



  3. Little House on March 25, 2010 at 7:43 pm

    What a terrific idea! I gotta ask, did you end up investing based on some of these ideas? And did they pay off? Tried and true knowledge is priceless.

    Good luck on the giveaway. I’m the first comment, do you think my chances are good? I have horrible luck. 🙁
    .-= Little House



  4. Derek Clark on March 25, 2010 at 8:25 pm

    Don’t worry about me winning, I already have the book. Just thought I’d leave a quick note saying I thought it was great as well. One of my favorite investing books. I subscribed as well, your site looks great!
    .-= Derek Clark



  5. Tom @ Canadian Finance Blog on March 25, 2010 at 10:32 pm

    Great giveaway. Looks like a good book, would love to read it!
    .-= Tom @ Canadian Finance Blog



  6. young on March 25, 2010 at 10:42 pm

    I think your chances are pretty good LittleHouse =) I have horrible luck too. So far there’s 5 entries lol 20% chance is pretty good, if you ask me!
    Yes, I have been trying to practice some of his suggestions. I’ve been trying to stalk “tenbaggers” haven’t got 10x the investment yet, but some stocks have gone up 25-30% =)



  7. The Rat on March 27, 2010 at 9:19 am

    I comment here so often that I hadn’t even realized that I had not subscribed via e-mail! Oh well, it’s done now!

    As for twitter…well…you know!

    I have a funny story about this book you are about to giveaway. I received a Chapters gift card last x-mas from a family member and decided to go online and purchase a book. I noticed the book in your giveaway selling for like $3 and I thought it was such a super deal and I ordered it right away.

    When the parcel arrived in the mail, it wasn’t the full blown book; instead, it was a mini pocket book the size of my palm with 30 tiny pages attempting to paraphrase the book in its entirety!

    Count me in on this one. I ended up reading most of my brother’s copy, but I’d like to have my own if possible.

    Cheers
    .-= The Rat



  8. Roger, the Amateur Financier on March 27, 2010 at 9:32 pm

    Count me among the ones who’ve already purchase this book; I picked my copy up at an outlet store for 99 cents. Very good advice, in a tiny, tiny package. Good review, by the way.
    .-= Roger, the Amateur Financier



  9. young on March 27, 2010 at 7:55 pm

    @The Rat LOL I had the same story, I thought it was the original version too, and thought WOW what a steal, then when it came it was “lowered expectations”. =) Except that it IS really good even though it’s so pintsize.



  10. Forest on March 28, 2010 at 4:00 am

    Ok following, tweeted and commented here :)…. Wish me luck 😉



  11. The Rat on March 28, 2010 at 6:16 am

    OMG! My bad. I had no idea I was talking about the same book. It’s still a nifty little thing to have, and it’s not like it broke my bank. I still have that little bad boy at home so be sure to give it to someone else who can also use it. It is a fun read. My wife was super impressed when I told her how long it took me read it 🙂
    .-= The Rat



  12. BibleDebt on March 28, 2010 at 7:04 pm

    You will survive without it! 😉

    I just joined the Yakezie Challenge today. Looking forward to supporting you as you grow your blog!



  13. young on March 28, 2010 at 9:49 pm

    @BibleDebt Nice! I loooove the Yakezie group- looking forward to seeing more of you around! Thanks for the support =)



  14. Lizeth Dietel on November 20, 2010 at 3:10 pm

    Thanks for a different terrific write-up. Exactly where different could any individual get that sort of details in this type of perfect way of composing? I’ve got a presentation upcoming week, and that i am around the look for these types of data.



  15. מובילים מומלצים on April 20, 2012 at 3:11 am

    it’s so? good this song that in a year you won’t remember shit about it…



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