You're calling for the spirit of Peter Lynch, Fool. "Buy what you know." But the legendary Fidelity Magellan manager never told you to buy what you love. Let me elucidate.
My own meandering experience
Back in college, I thought that the fortunes of Coca-Cola
That didn't work out too well. Less than a year later, the lime flavor was relegated to the diet line only, and I'm mixing my own citrusy Coke again.
And how about those coffee-laced granola bars from General Mills
The message should be clear by now: Just because I happen to love something to pieces doesn't mean that everyone else will buy that product, too.
The real story
What Lynch really meant was: "Only invest in companies you understand." Warren Buffett would agree. Don't even spend the time to research Google's
Most people would probably be more comfortable with Coke or Pepsi -- but could you explain the difference between their distribution models? Everybody knows that Buffett's Berkshire Hathaway
It's still a free country. Go ahead and love a product, be smitten with a business leader, fall head over heels for a gorgeous company. But don't buy stock based on those emotions, and don't get fooled by a hot stock tip from your barber. Haste makes waste, but homework will make you rich.
Coca-Cola and Berkshire Hathaway are Motley Fool Inside Value recommendations. Google is a Motley Fool Rule Breakers selection. Berkshire Hathaway is a Motley Fool Stock Advisor pick. The Fool owns shares of Berkshire Hathaway. The Fool offers a wide range of newsletters for any kind of investor. Try any of them today, free for 30 days.
Fool contributor Anders Bylund owns shares in Coke and Google, but he holds no other position in any of the companies discussed here. You can check out Anders' holdings or a concise bio if you like, and The Motley Fool is investors writing for investors.