Quotes from Peter Lynch

Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.

The key to making money in stocks is not to get scared out of them.

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.'

Never invest in any idea you can't illustrate with a crayon.

The best stock to buy is the one you already own.

If you don't study any companies, you have the same success buying stocks as you do in a poker game if you bet without looking at your cards.

Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it.

The trick is not to learn to trust your gut feelings, but rather to discipline yourself to ignore them. Stand by your stocks as long as the fundamental story of the company hasn't changed.

Know what you own, and know why you own it

People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences. Calamitous drops do not scare them out of the game.

Go for a business that any idiot can run – because sooner or later any idiot probably is going to be running it.

Remember, things are never clear until it's too late.

When you sell in desperation, you always sell cheap.

Whenever you invest in any company, you're looking for its market cap to rise. This can't happen unless buyers are paying higher prices for the shares, making your investment more valuable.

Big companies have small moves, small companies have big moves.

If you can follow only one bit of data, follow the earnings—assuming the company in question has earnings. As you'll see in this text, I subscribe to the crusty notion that sooner or later earnings make or break an investment in equities. What the stock price does today, tomorrow, or next week is only a distraction.

It takes remarkable patience to hold on to a stock in a company that excites you, but which everybody else seems to ignore. You begin to think everybody else is right and you are wrong. But where the fundamentals are promising, patience is often rewarded—Lukens stock went up sixfold in the fifteenth year, American Greetings was a sixbagger in six years, Angelica a sevenbagger in four, Brunswick a sixbagger in five, and SmithKline a threebagger in two.

The secret of his success is that he never went to business school. Imagina all the lessons he never had to unlearn.

The old Wall Street adage "never invest in anything that eats or needs repairs" may apply to racehorses, but it's malarkey when it comes to houses.

The typical big winner in the Lynch portfolio (I continue to pick my share of losers, too!) generally takes three to ten years or more to play out.

Look for small companies that are already profitable and have proven that their concept can be replicated. • Be suspicious of companies with growth rates of 50 to 100 percent a year.

Here are some pointers from this section: • Understand the nature of the companies you own and the specific reasons for holding the stock. ("It is really going up!" doesn't count.) • By putting your stocks into categories you'll have a better idea of what to expect from them.

A person who owns property and has a stake in the enterprise is likely to work harder and feel happier and do a better job than a person who doesn

Find something you enjoy doing and give it everything you've got, and the money will take care of itself.