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The worst thing you can do is invest in companies you know nothing about. Unfortunately, buying stocks on ignorance is still a popular American pastime.

Peter Lynch

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Peter Lynch
Age: 80
Born: 1944
Born: January 19
Businessman
Financier
Investor
the United States of America
Thing
Companies
Ignorance
Pastime
Worst
Stocks
Company
Invest
American
Unfortunately
Stills
Buying
Still
Investing
Nothing
Popular

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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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If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes
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More money is lost anticipating the changes in the overall stock market than any other way of investing.
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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.
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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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My method for picking stocks has never changed. When businesses go from crappy to semicrappy, there's money to be made.
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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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Most investors would be better off in an index fund.
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I've always been a great lover of baseball.
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Investing is fun and exciting, but dangerous if you don't do any work.
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If you're lucky enough to have been rewarded in life to the degree that I have, there comes a point at which you have to decide whether to become a slave to your net worth by devoting the rest of your life to increasing it or to let what you've accumulated begin to serve you.
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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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Invest in what you know.
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My high-tech aversion caused me to make fun of the typical biotech enterprise: $100 million in cash from selling shares, one hundred Ph.D.'s, 99 microscopes, and zero revenues.
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The basic story remains simple and never-ending. Stocks aren't lottery tickets. There's a company attached to every share.
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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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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 the long run, it's not just how much money you make that will determine your future prosperity. It's how much of that money you put to work by saving it and investing it.
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I don't know anyone who said on their deathbed: 'Gee, I wish I'd spent more time at the office.'
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