Peter Lynch averaged 29.2% annual return between 1977 to 1990.

His books One Up Wall Street and Beating the Street offered great insights into his success.

Here are my top 10 lessons from the legend:

Youtube provides us access to the top investors worldwide.

But 98.8% don't use it to its full potential.

Five videos that provide the best investing insights:

What you learn: Fundsmith investing philosophies and company's thesis.

From: Terry Smith, founder of

What you learn: Characteristics of compounders & understanding your competitive edge

From: @yliownyc and @tseides

What you learn: How to research a stock from scratch

From: @BrianFeroldi and @Brian_Stoffel_

What you learn: What makes internet stocks attractive?

From: @DennisHong17 and @goodinvestingc

Terry Smith is often referred to as "the English Warren Buffett".

He runs Fundsmith which has a fund size of £27.9bn.

Despite the size, Fundsmith did a CAGR of 18.4%.

In his book Investing for Growth, he explains his investing philosophy.

Here's a breakdown:

1. Fundsmith's winning formula

Find companies that focus on delivering value.

Not those who are looking to pacify Wall Street with short-term results.

2. Avoiding "cheap" companies?

Low multiples are not a reason to buy a company.

A ship will continue to sink if it has a hole in it.

"A stock may have a low valuation but an even lower intrinsic value. Buying such a stock is not a recipe for investment success."

3. Getting quality right

For long-term investors, getting the quality of the business is more important than the valuation.

“An investor could have paid 281 times earnings for L’Oréal, 156 times for Colgate, and 147 times for Brown-Forman and still beat the market.”

4. "Unprofitable" companies could be good investments

Many of the best companies don't show earnings today.

But that's because they're heavily reinvesting for the future.

It's just that the earnings hasn't show up.

Marathon Asset produced several iconic investors such as Nick Sleep and Jeremy Hosking.

Their letters from 2002 to 2015 provided a treasure trove of insights into their investment frameworks and how they look at the capital cycle.

Here are my main takeaways:

1/ Periods of high profitability leads to reckless investments.

When profits are high:

-Boost CAPEX with little regard for ROIC
-Competitors will follow suit to avoid losing market share
-CEO's incentives aren't aligned with shareholders

It's a race to the bottom.

2/ The capital cycle will swing down when investments are taken too far.

Forecasts that were reasonable will now look overly optimistic.

Profits collapse, management teams are changed, CAPEX is cut, and consolidation begins.

This will pave way for a recovery of profits.

3/ Asset growth matters

Consider both asset growth at the company and industry level.

Avoid industries where assets are growing rapidly.

4/ We tend to extrapolate

When overdone, investments that appear logical at first can become disastrous.

We have a tendency to forecast linearly when many things are cyclical.

Examples: trade cycles, credit cycles, etc

10 Insightful Lessons From the Book ”Man’s Search For Meaning”

(Over 12 Million Copies Sold)

⚡️Book Review⚡️

1. He who has a why to live for can bear almost any how.

✅You will be able to face hard times way much easier if you manage to find meaning for your life.

2. You can adapt and get used to literally any condition.

It is not the strongest species that survive, nor the most intelligent, but the ones most responsive to change.

🔴 Stepping out of our comfort zone will make us understand how further we can actually push our limits.

3. Have courage to accept the things you can’t control.

While being high in self-control is important in achieving our goals, we must not waste our time with things we can’t control.

👉What matters is how we react to situations that are beyond our control.

4. Avoid thinking about success

If you focus on making success your target, you are more likely to miss it.

✅Dedicate your time and effort to a vision that is more significant than yourself, and let success becomes a by-product of this dedication!

I asked, “What book do you re-read the most?”

I received 441 replies

Here are 20 books that should be read again and again:

1/

7 Habits of Highly Effective People

by Steven Covey

2/

A Short History of Nearly Everything

by Bill Bryson

3/

As A Man Thinketh

by James Allen

4/

Atomic Habits

by @JamesClear

10 Key Lessons From the Book “Black Swan” By: Nassim Taleb

⚡️Book Review⚡️

1. Don’t chase black swans, instead, let them permeate your life.

👉You can do this by experimenting, cultivating serendipity,

🚫not taking bell curves too seriously, and investing in lots of small outlier but high-risk opportunities.

2. Black swan events Key attributes:

- Extremely impactful
- Are outlier events
- Are retrospectively predictable, not prospectively predictable

🚫Try to avoid situations that can fool you in a huge way, and avoid depending on huge, and potentially harmful predictions.

3. Randomness mainly comes from lack of knowledge

Surviving until tomorrow could mean that you’re either more likely to be immortal, or closer to death.

👉Both of these conclusions are based on the same exact data.

4. Unknowns are more important than the knowns

👉We can master things in one field and fail to transfer the same to another.

Everyone has their own limitations when it comes to learning from experience or observation.

2 weeks ago, I started reading "Fooled by Randomness" by Nassim Taleb.

WOW, It's been mindblowing!

Thanks to @dvassallo 's recommendation.

Inside, there's a part he talks about how to deal with volatility.

Here’s 6 big lessons that are useful in the current market crash:

Lesson #1:
Negative emotions of seeing your stocks drop > Positive emotion from seeing your stocks rise.

"A negative pang is not offset by a positive one...

Some psychologists estimate the negative effect for an average loss to be up to 2.5 the magnitude of a positive one)...

... At the end of every day the dentist will be emotionally drained.

If the unpleasurable minute is worse in reverse pleasure than the pleasurable minute is in pleasure terms, then the dentist incurs a large deficit when examining his performance at a high frequency."

Lesson #2:
When we zoom out and check the prices less frequently, we are less affected by negative emotions.

Because over a longer time horizon, the market tends to rise more than it goes down.

1/28

The Courage To Be Disliked is an extremely logic oriented look at happiness and life.

Snippets of it may sound patronising at times but it leaves you with more questions than answers - It forces you to think!🙂

Some takeaways via a 🧵..

#BookTwitter
#BookRecommendation

2/28
The world in itself is simple. Life in itself is simple.

It is WE who make it complicated.

How ?
By Comparison.

We all live in a subjective world that we OURSELVES have given meaning to from OUR perspective.

So how can then they be the same for all ? 🙂

3/28
Ever observed how the world seems beautiful at times , sometimes mean & selfish , at times helpful ?

So does the world actually keep changing or does our subjective world change due to the change in our projections ? 🤔

Something worth reflecting upon !
👇

4/28

Not everyone who has faced trauma / calamity as a child grows up to become a bad person.

We determine our own lives as per the meaning we give those past experiences.

WE decide HOW we live - In constant conflict or at peace.

How have you decided to live your life? 🤔

5/28
What differentiates us humans from machines is primarily the fact that we possess Emotions.

Each emotion is merely a tool .
It can be used effectively or in a detrimental way.

But then again , what is effective and what is detrimental is all subjective ,ain't it ? 🙂