Daily Archives: September 5, 2010

I recently re-read Peter Lynch’s One Up on Wall Street to see how it stood against the test of time. One Up was written in 1989 and was an instant hit in large part because Lynch was the successful manager of one of the largest mutual funds in the market—Fidelity Investment’s Magellan Fund.

Many have the impression that Lynch was a rarity: a portfolio manager who did not espouse a value investing philosophy but who consistently beat the market anyway. If that were true, it would mean there were two such investors in recent history: Lynch and Soros. But upon closer inspection, I think we have to scratch Lynch from that rare list. Lynch was a practicing value investor and his bows to value investors Buffett, Templeton, Max Heine, Michael Price, and John Neff and his many references to Ben Graham’s “Mr. Market” are testament to that. There is also this:

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