Peter Lynch denies advising investment in stock market.
Peter Lynch, the legendary former Fidelity Magellan fund manager and author of "One Up On Wall Street," emphasized that he never said to invest in the stock market. Lynch's secret to success was to "buy what you know" and to do thorough research on companies before investing. He advised young investors to create a paper portfolio of at least 10 stocks and to evaluate the company's fundamentals and long-term outlook. Lynch also warned against speculative investments and emphasized the importance of having a strong stomach for investing.