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Never buy anything that you can't illustrate on the back of a napkin.

Peter Lynch

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Peter Lynch
Age: 80
Born: 1944
Born: January 19
Businessman
Financier
Investor
the United States of America
Napkins
Illustrate
Anything
Back
Never
Napkin

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The typical big winner in the Lynch portfolio generally takes three to ten years to play out.
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Behind every stock is a company. Find out what it's doing.
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Long shots almost always miss the mark.
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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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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 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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You can't see the future through a rearview mirror
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I like to buy a company any fool can manage because eventually one will.
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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 all the economists in the world were laid end to end, it wouldn't be a bad thing.
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What makes stocks valuable in the long run isn't the market. It's the profitability of the shares in the companies you own. As corporate profits increase, corporations become more valuable and sooner or later, their shares will sell for a higher price.
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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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I spend about fifteen minutes a year on economic analysis.
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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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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 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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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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Equity mutual funds are the perfect solution for people who want to own stocks without doing their own research.
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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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More money is lost anticipating the changes in the overall stock market than any other way of investing.
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