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In the long run, a portfolio of well chosen stocks and/or equity mutual funds will always outperform a portfolio of bonds or a money-market account. In the long run, a portfolio of poorly chosen stocks won't outperform the money left under the mattress.

Peter Lynch

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Peter Lynch
Age: 80
Born: 1944
Born: January 19
Businessman
Financier
Investor
the United States of America
Well
Investing
Poorly
Long
Chosen
Stocks
Always
Accounts
Bonds
Market
Funds
Outperform
Running
Equity
Mattress
Left
Fund
Mattresses
Money
Account
Portfolio
Wells
Mutual
Portfolios

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I talk to hundreds of companies a year and spend hour after hour in heady pow-wows with CEOs, financial analysts and my colleagues in the mutual-fund business, but I stumble onto the big winners in extracurricular situations, the same way you do.
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The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.
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I don't go near the money and the money doesn't go near me.
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It would be wonderful if we could avoid the setbacks with timely exits, but nobody has figured out how to predict them.
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In the summer of 1990, I was buying stocks and I was probably three or four months early there. But we had a great rally in 1991.
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When management owns stock, then rewarding the shareholders becomes a first priority, whereas when management simply collects a paycheck, then increasing salaries becomes a first priority.
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Just because you buy a stock and it goes up does not mean you are right. Just because you buy a stock and it goes down does not mean you are wrong.
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Everyone has the brainpower to make money in stocks. Not everyone has the stomach. If you are susceptible to selling everything in a panic, you ought to avoid stocks and mutual funds altogether.
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Never buy anything that you can't illustrate on the back of a napkin.
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In stocks as in romance, ease of divorce is not a sound basis for commitment.
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When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom.
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The real key to making money in stocks is not to get scared out of them.
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If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes
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All you need for a lifetime of successful investing is a few big winners, and the pluses from those will overwhelm the minuses from the stocks that don't work out.
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If you go to Minnesota in January, you should know that it's gonna be cold. You don't panic when the thermometer falls below zero.
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The best stock to buy is the one you already own.
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If you can't find any companies that you think are attractive, put your money in the bank until you discover some.
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There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating.
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Time is on your side when you own shares of superior companies.
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I spend about fifteen minutes a year on economic analysis.
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