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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.
Peter Lynch
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Peter Lynch
Age: 80
Born: 1944
Born: January 19
Businessman
Financier
Investor
the United States of America
Millions
Cash
Revenues
Share
Zero
Microscopes
High
Enterprise
Tech
Make
Investing
Shares
Selling
Aversion
Million
Revenue
Hundred
Typical
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Biotech
More quotes by Peter Lynch
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.
Peter Lynch
More money is lost anticipating the changes in the overall stock market than any other way of investing.
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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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Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it.
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When you start to confuse Freddie Mac, Sallie Mae and Fannie Mae with members of your family, and you remember 2,000 stock symbols but forget the children's birthdays, there's a good chance you've become too wrapped up in your work.
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I've always said, the key organ here isn't the brain, it's the stomach. When things start to decline - there are bad headlines in the papers and on television - will you have the stomach for the market volatility and the broad-based pessimism that tends to come with it?
Peter Lynch
I don't go near the money and the money doesn't go near me.
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You only need a few good stocks in your lifetime. I mean how many times do you need a stock to go up ten-fold to make a lot of money? Not a lot.
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If all the economists in the world were laid end to end, it wouldn't be a bad thing.
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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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Investing is fun and exciting, but dangerous if you don't do any work.
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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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When you sell in desperation, you always sell cheap.
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Everyone has the brain power to make money in stocks. Not everyone has the stomach.
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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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That's not to say there's no such thing as an overvalued market, but there's no point worrying about it.
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Equity mutual funds are the perfect solution for people who want to own stocks without doing their own research.
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An important key to investing is to remember that stocks are not lottery tickets.
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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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People who want to know how stocks fared on any given day ask, Where did the Dow close? I'm more interested in how many stocks went up versus how many went down. These so-called advance/decline numbers paint a more realistic picture.
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