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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
Industries
Stocks
Hot
Avoid
Industry

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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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The worst thing you can do is invest in companies you know nothing about. Unfortunately, buying stocks on ignorance is still a popular American pastime.
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The best stock to buy is the one you already own.
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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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Time is on your side when you own shares of superior companies.
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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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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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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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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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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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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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Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.
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Long shots almost always miss the mark.
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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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Well, I think the secret is if you have a lot of stocks, some will do mediocre, some will do okay, and if one of two of 'em go up big time, you produce a fabulous result. And I think that's the promise to some people.
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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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Improved turnout will give parliament and government the appearance of being more legitimate.
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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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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 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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