He was born in 1944 in Boston. The family did not live well, and little Peter had to work hard from an early age.
In 1954, grief happened in his family – his father died, and in order to feed his family, the boy worked part-time as he could: he cleaned, carried out garbage bags, and served balls in the city golf club.
After watching and listening to the rich players, the child had a dream – to become rich, no matter what. It was from the conversations of the club’s visitors that Peter first learned words that were not yet understood: exchange, fund, stocks, capital.
Having successfully graduated from school, he went to college, and then to Urton University, where he became a master.
By the age of twenty, Lynch had accumulated the first capital – a thousand dollars, and invested them in the airline's securities.
Investing in shares brought him a further $ 10,000.
In 1969, the first solid work appeared – an analyst at Fidelity.
Unlike his colleagues, Peter worked hard and hard, but he spent no more than 15 minutes a day on evaluating macroeconomics.
Peter did not really like options and futures, preferring company research. This helped him consider his potential at Pier 1 Imports, Taco Bell, Dunkin ’Donuts.
According to him, those corporations that show small but stable growth dynamics expect success. The proof of his theory can be the legendary Chrysler, whose shares have grown twenty times in just 15 years.
Having invested its 10,000 dollars in 1977 in the fund in which it worked, by 1990, Lynch had already earned 288,000 dollars on them.
At 46, Peter Lynch becomes vice president of the foundation. And today, a successful millionaire gives some tips:
- without risk there will be no financial well-being;
- mistakes are the way to success;
- do not succumb to emotions;
- Do not draw premature conclusions from long-term investments;
- never backtrack on the rules.