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Avoid hot stocks in hot industries.

Peter Lynch

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Peter Lynch
Age: 80
Born: 1944
Born: January 19
Businessman
Financier
Investor
the United States of America
Avoid
Industry
Industries
Stocks
Hot

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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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Most investors would be better off in an index fund.
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I like to buy a company any fool can manage because eventually one will.
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You have to keep your priorities straight if you plan to do well in stocks.
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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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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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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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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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An important key to investing is to remember that stocks are not lottery tickets.
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I've always been a great lover of baseball.
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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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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'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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All the math you need in the stock market you get in the fourth grade.
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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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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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Equity mutual funds are the perfect solution for people who want to own stocks without doing their own research.
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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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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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Behind every stock is a company. Find out what it's doing.
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