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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.

Peter Lynch

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Peter Lynch
Age: 80
Born: 1944
Born: January 19
Businessman
Financier
Investor
the United States of America
Back
Stock
Better
Preparation
Investing
Look
Obvious
Looks
Market
Much
Philosophy
Study
Studying
History
Statistics

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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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I like to buy a company any fool can manage because eventually one will.
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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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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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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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I spend about fifteen minutes a year on economic analysis.
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If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won't get bored.
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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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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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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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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?
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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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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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Most investors would be better off in an index fund.
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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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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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A lot of people got in at the wrong time. A lot of people did very well and some people said, This is it. I'll never get back in again. And they maybe meant it, but they probably got back in again anyway.
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Gentlemen who prefer bonds don't know what they're missing.
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