Learn to Earn: A Beginner's Guide to the Basics of Investing and Business. Home · Learn to Earn: A Author: Peter Lynch | John Rothchild DOWNLOAD PDF. Mutual-fund superstar Peter Lynch and author John Rothchild explain the basic principles of the stock market and business in an investing guide that will enlighten and entertain anyone who is high-school age or older. Many investors, including some with substantial portfolios. Download Learn to Earn Peter Lynch PDF. The “Learn to Earn: A Beginner's Guide to the Basics of Investing and Business” explains how to.
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new PDF Learn to Earn: A Beginner's Guide to the Basics of DESCRIPTION Mutual-fund superstar Peter Lynch and author John. Rating.: 4/5 From Reviews. Peter Lynch, John Rothchild. ePub | *DOC | audiobook | ebooks | Download PDF. Mutual-fund superstar Peter Lynch and author. Find out more about Learn to Earn by Peter Lynch, John Rothchild at Simon & Schuster. Read book reviews & excerpts, watch author videos & more.
The natural-born investor is a myth. The principles of finance are simple and easily grasped. Principle number one is that savings equals investment. Somebody else will take that money and use it to build new stores, new houses, or new factories, which creates jobs. More jobs means more paychecks for more workers. If those workers can manage to set aside some of their earnings to save and invest, the whole process begins all over again.
Why is the United States such a rich country? At one point, we had one of the highest savings rates in the world. But this introduction to finance is not only for young people. Fifty years of putting money away will produce astonishing results, even if you only put away a small amount at a time.
When a group of people goes into business together, they usually form a company. Most business in the world is done by companies. The word company comes from a Latin word that means companion.
The formal name for a company is corporation. Corporation comes from corpus, another Latin word, meaning body, in this case, a body of people who join together to conduct business. Corpse also comes from corpus, although this has nothing to do with the subject at hand, since corpses are unable to do business. To form a corporation is easy. All it takes is paying a small fee and filing a few papers in the state in which you want to maintain a legal address.
Delaware is the most popular choice, because the laws there are favorable to business, but thousands of new corporations are formed every year in every state. Whenever you see an inc. In the eyes of the law, a corporation is a separate individual that can be punished for bad behavior, usually by the imposition of a fine. If they do something wrong and they get sued, the corporation takes the rap and they get off the hook. Do you remember the Exxon Valdez disaster in Alaska, when an oil tanker ran aground and spilled 11 million gallons of oil into Prince William Sound?
This created a huge mess that took months to clean up. At the time, Exxon had hundreds of thousands of shareholders who were part owners of the business. It can be sued, as can its managers and directors, but the owners—the shareholders—are protected.
In England, companies put the word limited after their names. This indicates that the liability of the owners is limited, just the way it is in U. This is a crucial safeguard of our capitalist system, because if shareholders could be sued whenever a company made a mistake, people like you and me would be afraid to buy shares and become investors.
Why would we want to run the risk of being held responsible for another big oil spill, or a rat hair in a hamburger, or the endless variety of mishaps that occur in business every day? Without limited liability, nobody would want to buy a single share of stock. The vast majority of businesses in this country are private.
They are owned by one person or a small group of people, and more often than not, the ownership is kept in the family. You can find examples of private companies up and down the block on every main street in every village and town, and scattered throughout the cities of America and the world. These are the barbershops, hair salons, shoe-repair outlets, bicycle shops, baseball-card stores, candy stores, junk stores, antique stores, second-hand stores, vegetable stands, bowling alleys, bars, jewelry stores, used-car lots, and local mom-and-pop restaurants.
Most hospitals and universities are private as well. All you have to do is call a stockbroker and put in an order to buy shares. Hilton and Marriott sell their shares in the stock market.
Any company that does this is called a public company. Although there are more private companies than public companies in America, the public companies are generally much bigger, which is why most people work for public companies. In a public company, you and your parents, your aunt Sally, or the neighbors down the block can all buy shares and become owners automatically.
This piece of paper has real value.
You can sell it whenever you want. A public company is the most democratic institution in the world, when it comes to who can be an owner. The shares are out there in the stock market, being sold five days a week, six-and-a-half hours a day, and whoever has the cash and pays the price can buy as many as he or she wants.
Public companies are everywhere, and they surround you from morning to night. You can play the alphabet game, A to Z, naming a public company for each letter.
Nearly everything you eat, wear, read, listen to, ride in, lie on, or gargle with is made by one. Perfume to penknives, hot tubs to hot dogs, nuts to nail polish are made by businesses that you can own. Put on your Fruit-of-the-Loom underwear, the skirts and slacks made by Hagar or Farah that you bought from the Gap or the Limited, sewn from fabric that came from Galey and Lord out of fibers produced by Du Pont Chemical. Your toast may pop out of a toaster from Toastmaster, which has been in business since the s and is still going strong.
The coffeepot, microwave, stove, and refrigerator are made by public companies, and the larger supermarkets where you or your parents buy the food are public as well. Maybe you ride to school in a bus built by General Motors out of steel from Bethlehem Steel, with the windshield glass coming from PPG Industries, the tires from Goodyear, and the wheels made by Superior Industries from aluminum that Superior gets from Alcoa.
The gas for the bus comes from Exxon, Texaco, or one of the many public oil companies. The bus is insured by Aetna. The bus itself may be owned by Laidlaw, a company that runs the bus system in many school districts.
In , another public company, Viacom, swallowed Paramount in a takeover. Takeovers happen all the time in business. Or maybe you drive off campus to the nearest publicly owned hamburger joints: You can buy stock in any or all of these companies, as well as in the supporting cast of suppliers of cables and switches, companies that make and launch telecommunications satellites, and companies that manufacture the phones themselves. Your TV set is made by a public company, most likely Japanese.
You can invest in Jeopardy, Wheel of Fortune , and Oprah by buying shares in King World, a public company that syndicates those three shows, among others. Most of the products advertised on TV are made by public companies. Many of these ads are written and produced by public ad agencies such as the Interpublic Group.
As already mentioned, the Mars company, which makes Mars bars, Milky Way, and Snickers, is private; so is Levi Strauss, the blue jeans manufacturer.
A few insurance giants—John Hancock, for instance—are mutual companies, but maybe not for long. John Mihaljevic. Tools of Titans.
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Peter Lynch. Beating the Street. Going for Broke. John Rothchild. How to write a great review. The review must be at least 50 characters long.
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