How Warren sees Peter Lynch
Mike Macy from Indianapolis.
I have really enjoyed reading your annual letters and your annual report, and I’ve gone back and read all of the older ones, too.
I have also enjoyed reading the two books by Peter Lynch, and I see a lot of commonalities between the two of you, the way you think, your philosophy, et cetera.
I’d certainly appreciate it if you’d make a few comments on what you think of Peter Lynch, the things he says in his two books, and the advice that he gives to investors. Thank you.
Well, I know Peter. I don’t know him well, but we’ve played bridge together in Omaha as a matter of fact.
I like him personally, and obviously he has an outstanding record. And he has written those two books, which have been bestsellers, about his investment philosophy. I don’t really have anything… you know, I’m not going to embroider on his.
There’s certainly a fair amount of overlap. There’s some difference.
Peter, obviously, likes to diversify a lot more than I do. He owns more stocks than the names of companies I can remember. I mean, but that’s Peter.
And, you know, I’ve said in investing, in the past, that there’s more than one way to get to heaven. And there isn’t a true religion in this, but there’s some very useful religions.
And Peter’s got one, and I think we’ve got one that’s useful, too. And there is a lot of overlap.
But I would not do as well if I tried to do it the way Peter does it, and he probably wouldn’t do as well if he tried to do it exactly the way I’d do it.
I like him personally very much. He’s a high-grade guy.
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