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One Up On Wall Street: How To Use What You Already Know To Make Money In

Book by Peter Lynch · 5 quotes · Investing, Ifs, Company

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“Logic is the subject that has helped me most in picking stocks, if only because it taught me to identify the peculiar illogic of Wall Street. Actually Wall Street thinks just as the Greeks did. The early Greeks used to sit around for days and debate how many teeth a horse has. They thought they could figure it out just by sitting there, instead of checking the horse. A lot of investors sit around and debate whether a stock is going up, as if the financial muse will give them the answer, instead of checking the company.”

IfsThinkingGivingUsedAnswersCompanyStreetsSubjectsFiguresTaughtWallSittingLogicHorseFinancialDebateTeethGreekPeculiarInvestorsMuse
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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.”

ShouldSelfPainAbilityCommonMistakeQualityHumilityEqualResearchShould HaveIndependentListsToleranceCommon SensePersistenceWillingnessInvestorsPanicSelf RelianceFlexibilityRelianceDetachmentOpen Mindedness
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“There's no use diversifying into unknown companies just for the sake of diversity. A foolish diversity is the hobgoblin of small investors. That said, it isn't safe to own just one stock, because in spite of your best efforts, the one you choose might be the victim of unforeseen circumstances. In small portfolios, I'd be comfortable owning between three and ten stocks.”

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Book:One Up On Wall Street: How To Use What You Already Know To Make Money In
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