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Your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed.

Peter Lynch

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Peter Lynch
Age: 80
Born: 1944
Born: January 19
Businessman
Financier
Investor
the United States of America
Depends
Worries
Worry
Ignore
Ability
Depend
Success
Investment
Enough
Allow
Long
Ultimate
World
Succeed
Failure
Investments

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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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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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The biggest winners are surprises to me, and takeovers are even more surprising. It takes years, not months, to produce big results.
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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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You can't see the future through a rearview mirror
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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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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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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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Avoid hot stocks in hot industries.
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An important key to investing is to remember that stocks are not lottery tickets.
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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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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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The stock market really isn't a gamble, as long as you pick good companies that you think will do well, and not just because of the stock price.
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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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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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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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Behind every stock is a company. Find out what it's doing.
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Never buy anything that you can't illustrate on the back of a napkin.
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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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