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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 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 moderately fast growers 20 to 25 in non-growth industries or ideal investments look for companies with niches when purchasing depressed stocks and troubled companies seek out the ones with the superior financial positions and avoid tea big companies have small moves small companies have big moves when you sell in desperation you always sell cheap if you can follow only one bit of data follow the earnings assuming the company in question has earnings as you will see in this text i subscribe to the crusty notion that sooner or later earnings make or break in investment in equities what the ass remember things are never clear until it's too late 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 it takes remarkable patience to hold onto 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 real the secret of his success is that he never went to business school imagine all the lessons he never had to unlearn peter lynch doesn't advise you to buy stock in your favorite store just because you like shopping in the store nor should you buy stock in a manufacturer because it makes your favorite product or a restaurant because you like the food liking a stowe the typical big winner in the lynch portfolio i continue to pick my share of losers two generally takes three to ten years or more to play out 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 oh 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 if you find a stock with little or no institutional ownership you've found a potential winner find a company that no analyst has ever visited or that no analyst would admit to knowing about and you've got a double winner wanna talk to a companion 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 by just sitting there instead of checking the horse a understand the nature of the companies you own and the specific reasons for holding the stock it is really going up doesn't count quotes famous thank you for watching
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