Peter Lynch
Overview
 
Peter Lynch is a Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...

 stock investor. He is currently a research consultant at Fidelity Investments
Fidelity Investments
FMR LLC or Fidelity Investments is an American multinational financial services corporation one of the largest mutual fund and financial services groups in the world. It was founded in 1946 and serves North American investors. Fidelity Ventures is its venture capital arm...

. Lynch graduated from Boston College
Boston College
Boston College is a private Jesuit research university located in the village of Chestnut Hill, Massachusetts, USA. The main campus is bisected by the border between the cities of Boston and Newton. It has 9,200 full-time undergraduates and 4,000 graduate students. Its name reflects its early...

 in 1965 and earned a Master of Business Administration
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...

 from the Wharton School of the University of Pennsylvania
University of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...

 in 1968.
Lynch was hired as an intern with Fidelity Investments
Fidelity Investments
FMR LLC or Fidelity Investments is an American multinational financial services corporation one of the largest mutual fund and financial services groups in the world. It was founded in 1946 and serves North American investors. Fidelity Ventures is its venture capital arm...

 in 1966 partly because he had been caddying for Fidelity's president
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...

 (among others) at Brae Burn Country Club
Brae Burn Country Club
Brae Burn Country Club is a golf course located in West Newton, Massachusetts. Designed by Donald Ross, Brae Burn has hosted seven USGA Championships, including the 1919 U.S Open, and 1928 U.S Amateur. Brae Burn is most noted for its diabolic greens, and classic layout.-History:Brae Burn Country...

 in Newton, Massachusetts
Newton, Massachusetts
Newton is a city in Middlesex County, Massachusetts, United States bordered to the east by Boston. According to the 2010 U.S. Census, the population of Newton was 85,146, making it the eleventh largest city in the state.-Villages:...

. He initially covered the paper, chemical, and publishing industries, and when he returned after a two-year Army stint he was hired permanently in 1969.
Quotations

If you spend more than 14 minutes a year worrying about the market, you've wasted 12 minutes.

The person that turns over the most rocks wins the game. And that's always been my philosophy.

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

I think you have to learn that there's a company behind every stock, and that there's only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.

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 get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.

When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom.

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.'

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

 
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