When I was a boy and first started reading about investing, Peter Lynch was The Man. His basic philosophy, offered by way of his One Up on Wall Street book, was for people to basically buy companies whose products/services they used and respected.
That works great in a fairly-valued market. In recent times, however, companies are so laughably overvalued that the Lynch philosophy is dangerous. For instance, I think the salad chain sweetgreen is fantastic. They are crazy-popular, I love their food, and I think they’ve got a great future. But the performance after their IPO tells the story. There ARE no values anymore. Stocks are all priced for thievery, and once the insiders and VCs have dumped it, the hapless public gets to enjoy the red ink.
