Citations de Peter Lynch

71 citations intemporelles sur l'investissement et la vie

Citations les Plus Célèbres

"Know what you own, and know why you own it."
— Peter Lynch

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

"The person that turns over the most rocks wins the game."
— Peter Lynch

Toutes les Citations de Peter Lynch

"The more stocks you own, the more time you have to spend tracking them."
Source: *One Up On Wall Street* (1989)
A focused portfolio of well-understood stocks beats a scattered portfolio of names you barely know.
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"The key to making money in stocks is not to get scared out of them."
Source: *One Up On Wall Street* (1989)
The greatest risk is not market volatility — it is panicking out of your positions during temporary declines.
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"Professionals are often precluded from investing in small companies."
Source: *One Up On Wall Street* (1989)
Small-cap stocks are overlooked by institutions, creating pricing inefficiencies that individual investors can exploit.
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"You don't have to be right on every stock."
Source: *One Up On Wall Street* (1989)
You only need a few big winners in your lifetime to build significant wealth — not every pick needs to work.
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"If you work in an industry, you have an edge in that industry."
Source: *One Up On Wall Street* (1989)
Your professional expertise in an industry gives you an informational edge that no Wall Street analyst can replicate.
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"Some of the best stock tips are found in shopping malls and at your own workplace."
Source: *One Up On Wall Street* (1989)
Pay attention to what succeeds in your everyday life — popular products and busy stores signal strong businesses.
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"The key organ in investing is the stomach, not the brain. Everyone has the brainpower to make money in stocks. Not everyone has the stomach."
Source: *One Up On Wall Street* (1989)
Emotional fortitude matters more than intelligence in investing.
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"A decline of 10% is a correction, a decline of 25% is a bear market, and a decline of 50% happens roughly once every generation. None of these should cause panic."
Source: *One Up On Wall Street* (1989)
Market declines are a normal part of investing.
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"If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes."
Source: *One Up On Wall Street* (1989)
Macroeconomic forecasting is largely useless for stock picking.
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"Know what you own, and know why you own it. If you can't explain it to a ten-year-old in two minutes or less, you shouldn't own it."
Source: *One Up On Wall Street* (1989)
Understanding your investments is the best risk management.
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"In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten. You need just a few big winners to make a whole career."
Source: *One Up On Wall Street* (1989)
A few big winners more than compensate for many small losses.
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"I place stocks in six general categories: slow growers, stalwarts, fast growers, cyclicals, turnarounds, and asset plays. Each requires a different strategy."
Source: *One Up On Wall Street* (1989)
Classify stocks to apply the right strategy to each.
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"When the stock market is at its lowest, nobody talks about stocks at cocktail parties. When taxi drivers and dentists start giving stock tips, it's time to sell."
Source: *One Up On Wall Street* (1989)
Public enthusiasm about stocks signals market tops.
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"The amateur investor has advantages over the professional. You can find great investments right in your own backyard — the mall, the workplace, the products you use every day."
Source: *One Up On Wall Street* (1989)
Personal experience provides unique investment insight.
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"Investing without research is like playing stud poker and never looking at the cards. You have to study the company before you invest, not after."
Source: *One Up On Wall Street* (1989)
Research before investing, not after.
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"The perfect stock is attached to a company doing something dull or ridiculous. A company that does boring things is almost always a good buy."
Source: *One Up On Wall Street* (1989)
Boring businesses often make the best investments.
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"The P/E ratio of any company that's fairly priced will equal its growth rate. If the P/E is lower than the growth rate, you may have found yourself a bargain."
Source: *One Up On Wall Street* (1989)
Use the PEG ratio to find fairly valued growth stocks.
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"Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves."
Source: *One Up On Wall Street* (1989)
Trying to avoid downturns costs more than enduring them.
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"People who succeed in the stock market also accept periodic losses and setbacks. Losses and setbacks are key to eventually finding the big winners. Stock prices follow earnings."
Source: *One Up On Wall Street* (1989)
Long-term stock prices track business earnings, not sentiment.
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"Behind every stock is a company. Find out what it's doing. If the company is doing well, the stock will eventually follow."
Source: *One Up On Wall Street* (1989)
Focus on business quality, not stock price.
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"The individual investor should act consistently as an investor and not as a speculator. The amateur who devotes a small amount of study to companies in an industry has an edge over most professionals."
Source: *One Up On Wall Street* (1989)
Individual investors have structural advantages over professionals.
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"If you can follow only one bit of data, follow the earnings — assuming the company in question has earnings. The direction of earnings is the single most important factor in stock prices."
Source: *One Up On Wall Street* (1989)
Build your investment system around earnings analysis.
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"The amateur investor has numerous advantages over the professional investor."
Source: *One Up On Wall Street* (1989)
Individual investors beat professionals because they have no benchmark pressure, no committee approvals, and no career risk.
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"If you invest in stocks for the long term, you should look forward to down markets."
Source: *One Up On Wall Street* (1989)
Train yourself to welcome market drops as opportunities rather than threats to your wealth.
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"If you spend more than 14 minutes a year on economics, you've wasted 12 minutes."
Source: *One Up On Wall Street* (1989)
Macroeconomic forecasts are useless noise — successful investing depends on company-level analysis.
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"In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten."
Source: *One Up On Wall Street* (1989)
Accept that mistakes are inevitable and cut losses quickly instead of hoping for a recovery that may never come.
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"Never invest in any company before you've done the homework on the company's earnings prospects, financial condition, competitive position, and expansion plans."
Source: *One Up On Wall Street* (1989)
Do your own research thoroughly before buying — no shortcut replaces understanding the actual business.
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"Far more money has been lost by investors preparing for corrections than has been lost in the corrections themselves."
Source: *One Up On Wall Street* (1989)
Sitting in cash waiting for a crash costs more than the crash itself would have cost you.
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"Market declines are great opportunities to buy stocks at bargain prices."
Source: *One Up On Wall Street* (1989)
Market crashes are clearance sales — the same great companies at dramatically lower prices.
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"In this business, if you're good, you're right six times out of ten."
Source: *One Up On Wall Street* (1989)
Expect to be wrong on 40% of your stock picks — what matters is making more on winners than you lose on losers.
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"Nobody can predict interest rates, the future direction of the economy, or the stock market."
Source: *One Up On Wall Street* (1989)
Stop trying to predict the market and focus your energy on finding great individual companies.
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"Sell if you find something better."
Source: *One Up On Wall Street* (1989)
Holding a mediocre stock just because you own it is a waste of time and capital.
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"Diworsification—when a company diversifies into unrelated areas—is a bad sign."
Source: *One Up On Wall Street* (1989)
A company that diversifies into unrelated businesses is usually destroying value and signaling management hubris.
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"Heavy insider selling is a warning sign."
Source: *One Up On Wall Street* (1989)
When executives dump large amounts of their own stock, they may know something you do not.
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"Sell cyclicals when inventories are building and the economy is booming."
Source: *One Up On Wall Street* (1989)
Sell cyclicals when business conditions peak — rising inventories and full capacity signal the top.
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"With stalwarts, you make most of your money in the first two years."
Source: *One Up On Wall Street* (1989)
Take profits on stalwarts after a 30-50% gain because they rarely deliver more than that in a single move.
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"When the P/E ratio gets too high relative to growth prospects, it's time to sell."
Source: *One Up On Wall Street* (1989)
A stock priced for perfection has no margin for error — any disappointment triggers a sharp decline.
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"When earnings growth slows, it's time to reconsider."
Source: *One Up On Wall Street* (1989)
Decelerating earnings growth is the earliest warning that a growth stock is maturing into something else.
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"Sell when the story changes."
Source: *One Up On Wall Street* (1989)
The only valid reason to sell is when the fundamental story you bought into no longer applies.
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"Keep up with your stocks the same way you keep up with your health."
Source: *One Up On Wall Street* (1989)
Review your holdings periodically to verify the original investment thesis still holds true.
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"Bad news about a stock can be good news for the investor."
Source: *One Up On Wall Street* (1989)
Overblown negative headlines create temporary price drops that let you buy great companies at a discount.
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"The best company to own is one that has room to expand."
Source: *One Up On Wall Street* (1989)
Companies with large untapped markets can sustain high growth rates far longer than skeptics expect.
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"A single successful product can turn around a company's fortunes."
Source: *One Up On Wall Street* (1989)
A single blockbuster product can transform a struggling company into a market leader overnight.
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"Buy cyclicals when things look terrible."
Source: *One Up On Wall Street* (1989)
The best time to buy cyclicals is at peak pessimism when the industry appears to be dying.
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"Share buybacks are the simplest way for companies to reward shareholders."
Source: *One Up On Wall Street* (1989)
Companies that consistently buy back shares at reasonable prices are compounding shareholder value quietly.
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"When insiders are buying, it's a good sign."
Source: *One Up On Wall Street* (1989)
When company executives spend their own money buying shares, they are voting with their wallets.
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"The lower the percentage of institutional ownership, the better."
Source: *One Up On Wall Street* (1989)
Low institutional ownership means a stock still has room for a wall of buying when funds eventually discover it.
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"A PEG ratio of less than one is generally a good sign."
Source: *One Up On Wall Street* (1989)
A PEG ratio below one means you are paying less for growth than the market typically demands.
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"Look for companies with accelerating earnings."
Source: *One Up On Wall Street* (1989)
Accelerating earnings quarter over quarter is the strongest indicator that a company is hitting its stride.
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"The perfect company has a boring name, does something dull, and is not followed by analysts."
Source: *One Up On Wall Street* (1989)
The best investments are often in boring, unglamorous companies that Wall Street analysts refuse to cover.
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"Big companies have small moves, small companies have big moves."
Source: *One Up On Wall Street* (1989)
Small companies offer bigger potential returns because a small revenue base can double more easily than a large one.
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"Own as many stocks as there are situations in which you have an edge."
Source: *One Up On Wall Street* (1989)
The right number of stocks to own depends on how many genuine informational edges you actually have.
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"Avoid hot stocks in hot industries."
Source: *One Up On Wall Street* (1989)
The most dangerous stocks are popular ones in trendy industries where everyone is already invested.
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"When companies buy back their own shares, it's usually a good sign."
Source: *One Up On Wall Street* (1989)
Share buybacks shrink the share count, boost earnings per share, and signal management confidence.
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"Insiders might sell shares for any number of reasons, but they buy for only one reason: they think the stock price will rise."
Source: *One Up On Wall Street* (1989)
Insider buying is the most reliable bullish signal because people risk their own money only when they expect gains.
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"Cash flow is the lifeblood of a company."
Source: *One Up On Wall Street* (1989)
Free cash flow reveals whether a company actually generates real money or just reports accounting profits.
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"Look for a strong balance sheet with low debt."
Source: *One Up On Wall Street* (1989)
A clean balance sheet with low debt gives a company the resilience to survive bad times and capitalize on good ones.
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"In the end, earnings are what count."
Source: *One Up On Wall Street* (1989)
Revenue and hype are distractions — only sustainable earnings growth drives long-term stock prices.
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"Never invest in any idea you can't illustrate with a crayon."
Source: *One Up On Wall Street* (1989)
Stick to businesses simple enough that anyone could understand how they make money.
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"If you can't explain why you own a stock in two minutes or less, you shouldn't own it."
Source: *One Up On Wall Street* (1989)
If you cannot articulate your investment thesis quickly and clearly, you are gambling, not investing.
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"Invest in what you know."
Source: *One Up On Wall Street* (1989)
Your personal knowledge and daily observations give you a real edge over professional fund managers.
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"In my experience, the best stocks to buy are the ones you already know."
Source: *One Up On Wall Street* (1989)
Your best investment ideas come from your own daily experience as a consumer and professional.
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"The P/E ratio of any company that's fairly priced will equal its growth rate."
Source: *One Up On Wall Street* (1989)
A stock with a P/E ratio equal to its earnings growth rate is fairly valued — below that is a bargain.
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"Companies don't stay in one category forever."
Source: *One Up On Wall Street* (1989)
Reclassify your stocks regularly because a fast grower today can become a slow grower tomorrow.
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"An asset play is any company that's sitting on something valuable that the market has overlooked."
Source: *One Up On Wall Street* (1989)
Hidden assets on balance sheets — real estate, patents, cash — create buying opportunities that Wall Street ignores.
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"Turnarounds are companies that have been battered and depressed, and have the potential to recover."
Source: *One Up On Wall Street* (1989)
Turnarounds can deliver explosive returns, but only if the company has enough cash to survive the recovery.
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"Cyclicals are companies whose sales and profits rise and fall in regular fashion."
Source: *One Up On Wall Street* (1989)
Timing is everything with cyclicals — buy when the business looks terrible, sell when it looks great.
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"Fast growers are small, aggressive new enterprises that grow at 20-25% a year."
Source: *One Up On Wall Street* (1989)
Fast growers offer the biggest gains but require constant monitoring to catch the moment growth slows.
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"Stalwarts are large companies that grow faster than slow growers but aren't going to double overnight."
Source: *One Up On Wall Street* (1989)
Stalwarts are your portfolio insurance — they protect you in downturns and deliver steady 10-12% annual returns.
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"Slow growers are large and aging companies that are expected to grow slightly faster than GDP."
Source: *One Up On Wall Street* (1989)
Slow growers pay dividends because they have no better use for their cash — own them for income, not growth.
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"I've developed my own system for categorizing stocks into six categories."
Source: *One Up On Wall Street* (1989)
Classify every stock into one of six categories before buying so you know what to expect from it.
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Questions Fréquentes

Quelle est la citation la plus célèbre de Peter Lynch ?

"Know what you own, and know why you own it."

Combien de citations de Peter Lynch y a-t-il ?

Nous avons sélectionné 71 citations vérifiées de Peter Lynch, chacune avec attribution de source et analyse approfondie.

Sur quels sujets Peter Lynch cite-t-il le plus ?

Peter Lynch frequently discusses value investing, risk management, and long-term thinking.

Citations les Plus Célèbres

Toutes les Citations de Peter Lynch

Questions Fréquentes

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