The publication of this paperback edition gives me a chance to respond to the feedback I got from the hardcover edition, both from the press and from callers on late-night radio call-in shows.
There are points I thought that I made quite forcefully in the hardcover edition but that the reviewers have never mentioned. There are other points that caught the reviewers’ fancy that I never intended to make at all. This is why I’m delighted to have this new preface, where I can correct what I think are three important misconceptions.
At the top of my list is the one that puts Lynch on a pedestal as the Babe Ruth of Investing, talking down to the Little Leaguers and giving them the false hope that they can perform like Big League professionals. The Babe Ruth comparison, although flattering, is wrong on two counts. First, I’ve struck out or grounded out far too often to be compared to the Sultan of Swat. Second, I don’t think the Little Leaguers, a.k.a. small investors or average investors or the general public, should even try to imitate the Big League professionals
