Lynch coined some of the best known mantras of modern individual investing strategies.
His most famous investment principle is simply, "Invest in what you know," popularizing the economic concept of "local knowledge". Since most people tend to become expert in certain fields, applying this basic "invest in what you know" principle helps individual investors find good undervalued stocks.
I'm just sayin'....
What does he know? He did not study economics, go to business school and has never had a (real) job in the private sector. It isn't as if we are discussing a former accountant.
There are two components to showing that his claim of winning “more than a million” in poker and never having to work again are false.
Component #1: Wisdom & Experience
Component #1, Fact 1: He is clearly an idiot. With the bad grammar, the idiotic and easily debunked lies, falling for satire, the inability to do basic math and the comically bad sports and political predictions, it is clear he has a mediocre IQ.
Component #1, Fact 2: He has no experience in high finance. If you go from living paycheck to paycheck, does it sound right that you will know the best things to invest in and the best tax and asset protection strategies along with figuring out an income stream from your investments? He has said he had large student loans and was angry about it and he also said he went to a financial advisor but did not listen to what was said. Think about this, about 70% of lottery winners (with much, much more than he claims to have won) end up broke and 80% of NBA players (with much, much more than he claims to have won) end up bankrupt. Yet a guy with a low IQ and no experience somehow figured out how to manage wealth in a very short period of time. Laughable.