Peter Lynch
10 quotes
Biography
Peter Lynch is an American investor, mutual fund manager, author and philanthropist. As the manager of the Magellan Fund at Fidelity Investments between 1977 and 1990, Lynch averaged a 29.2% annual return, consistently outperforming S&P 500 stock market index and making it the best-performing mutual fund in the world.
"When somebody says, "Any idiot could run this joint," that's a plus as far as I'm concerned, because sooner or later any idiot probably is going to be running it."
"If you don't understand a company, if you can't explain it to a ten-year-old in 2 minutes or less, don't own it."
"Since the early 1980s, the Berkshire annual reports have informed shareholders of the performance of the holdings of the company and new investments, updated the status of the insurance and the reinsurance industry, and (since 1982) have listed acquisition criteria about business Berkshire would like to purchase. The report is generously laced with examples, analogies, stories, and metaphors containing the do's and dont's of proper investing in stocks."
"Corporate profits will be a lot higher 10 years from now. They'll be a lot higher 20 years from now. That's what you can rely on. Microsoft didn't exist 20 years ago. Staples didn't exist 20 years ago—Federal Express didn't exist 20 years ago. New companies will come along. That's what makes stocks go up."
"There's no point paying Yo-Yo Ma to play a radio."
"Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it."
"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.'"
"Although it's easy to forget sometimes, a share is not a lottery ticket... it's part-ownership of a business."
"The real key to making money in stocks is not to get scared out of them."
"So while I was in college I did a little study on the freight industry, the air freight industry. And I looked at this company called Flying Tiger. And I actually put a thousand dollars in it and I remember I thought this air cargo was going to be a thing of the future."