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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
Back
Never
Napkin
Napkins
Illustrate
Anything

More quotes by Peter Lynch

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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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Behind every stock is a company. Find out what it's doing.
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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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You have to keep your priorities straight if you plan to do well in stocks.
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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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The real key to making money in stocks is not to get scared out of them.
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When you sell in desperation, you always sell cheap.
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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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Charts are great for predicting the past.
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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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More money is lost anticipating the changes in the overall stock market than any other way of investing.
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My method for picking stocks has never changed. When businesses go from crappy to semicrappy, there's money to be made.
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I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading 'Now is the time to buy.'
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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.
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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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In stocks as in romance, ease of divorce is not a sound basis for commitment.
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If you can't find any companies that you think are attractive, put your money in the bank until you discover some.
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If you hope to have more money tomorrow than you have today, you've got to put a chunk of your assets into stocks. Sooner or later, a portfolio of stocks or stock mutual funds will turn out to be a lot more valuable than a portfolio of bonds or CDs or money-market funds.
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Most investors would be better off in an index fund.
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