If any one word summarizes Lynch's approach to investing, it's opportunistic. Lynch writes in One Up on Wall Street, "I didn't really have a strategy. I bought everything." While he liked value stocks like Chrysler, he also invested in fast-growing up-and-comers, such as Hanes Co. (now owned by Sara Lee SLE). Lynch says after his wife raved over the fact that Hanes conveniently sold its L'eggs pantyhose in grocery stores, he figured the company was onto something good. His hunch was right. Hanes' stock rose sixfold while Magellan held it.
Profitability, Price, and a Good Business Model >>