"I've never said, 'If you go to a mall, see a Starbucks and say it's good coffee, you should call Fidelity brokerage and buy the stock.'" - Peter Lynch I saw an article in Monday's Wall Street Journal on Peter Lynch. Basically, it was a very brief piece where Lynch basically says that people are misinterpreting his advice to "buy what you know".
Great post. John Neff's turnover was close to 30% vs. Peter Lynch's was close to 100%. Neff played the cyclical growth game (which by its nature is trading based) as well as unrecognized growth. His turnover depended upon his strategy. With unrecognized growth firms he would surf the business trends/momentum as Munger would put it for quite awhile. An example is Tandy a name he bought 1973 and finally sold his last block in 1980. For a value investor his catorigizations all growth based, recognized growth, less recognized growth, moderate growth & cyclical growth.
Great post. John Neff's turnover was close to 30% vs. Peter Lynch's was close to 100%. Neff played the cyclical growth game (which by its nature is trading based) as well as unrecognized growth. His turnover depended upon his strategy. With unrecognized growth firms he would surf the business trends/momentum as Munger would put it for quite awhile. An example is Tandy a name he bought 1973 and finally sold his last block in 1980. For a value investor his catorigizations all growth based, recognized growth, less recognized growth, moderate growth & cyclical growth.