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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.

Peter Lynch

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Peter Lynch
Age: 80
Born: 1944
Born: January 19
Businessman
Financier
Investor
the United States of America
Exit
Predict
Figured
Investing
Avoid
Exits
Nobody
Setbacks
Wonderful
Timely
Would
Setback

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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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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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Searching for companies is like looking for grubs under rocks: if you turn over 10 rocks you'll likely find one grub if you turn over 20 rocks you'll find two.
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Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.
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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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Avoid hot stocks in hot industries.
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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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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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As I look back on it now, it's obvious that studying history and philosophy was much better preparation for the stock market than, say, studying statistics.
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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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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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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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All the math you need in the stock market you get in the fourth grade.
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You can find good reasons to scuttle your equities in every morning paper and on every broadcast of the nightly news.
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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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If you have the stomach for stocks, but neither the time nor the inclination to do the homework, invest in equity mutual funds.
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