Roy Newberg, the father of American open-end funds, once said, "Warren Buffett and Lynch are the two greatest investors in modern society." Along with George Soros, I want to use the word "genius" to describe them. But if I were to choose who was the most perfect, on the whole, I would only choose Peter Lynch. "

In the 13 years since Peter Lynch became a Magellan fund manager, the fund's assets under management have grown from $20 million to $14 billion, with an average annual compound interest rate of 29.2%, creating a wealth myth in the history of mutual funds.

In Lynch's view, a sharp fall in the stock market is actually a good thing, which allows him to buy stocks of very good companies at very low prices. Smart investors have sorted out his most valuable 36 golden sentences and shared them with everyone.

The fall in the stock market is actually a good thing, let's buy good companies again at a low price

1. Whenever the stock market falls sharply and I worry about the future, I will recall the fact that there have been 40 stock market falls in the past to appease my fear. I told myselfIn fact, the sharp fall in the stock market is a good thing, let us have another good opportunity to buy shares of very good companies at very low prices.

It's not surprising that the stock market is falling. It always happens again and again, just like the cold winter in Minnesota. It's just a common thing.

If you live in a cold climate and you are used to it, you have long predicted that the gas will drop enough to freeze, then when the outdoor degree falls below zero, you will certainly not panic that the next ice age is coming.

And you will put on your fur coat, sprinkle some salt on the sidewalk to prevent ice, and everything will be done, and you will comfort yourself like this-if winter comes, can summer be far behind? The weather will be warm again by then!

Mature stock pickers have the same relationship with falling stock markets as Minnesota residents have with cold weather. You know that a sharp fall in the stock market always happens, and you are prepared to survive it in advance.

There are many bull stocks in the stock market, all you have to do is to find a few of them, and you must let your bull stocks make up for your mistakes.

The stock market will fall, and no one knows when it will fall, and investors should not enter the market if they cannot afford it.

The stock market crash is a bit scary, but you have to ask yourself, "will the fall affect consumers?" Will it cause people to stop buying cars, houses, household appliances and eating in restaurants? "that's what you have to worry about.

4. Investment is different from pure science. In science, when you say "Oh, I see", you will come up with the answer. But in terms of investment, by the time you figure it out, the stock price may have quadrupled. So, you have to take some risks.

5. The common feature of high-risk stocks that will make huge returns but have very little chance of success is that they will cost you a lot of money.

A company that any fool can run is exactly what I dream of.

6，"any fool can run this business" is a feature of an ideal company, and the stock of this kind of company is exactly what I dream of.

7，To get rid of good stocks that make money and hold bad stocks that lose money is tantamount to pulling flowers and watering weeds.

In most cases, it is better to buy stock in a good company that is regarded as a model at a higher price than to buy a company that is supposed to be the next good company at a cheap price.

9. If the development prospect of a company is good and the fundamentals have not changed, it is too bad to give up owning the company's stock just because "the stock price can't rise any more."

10. You have to know what you bought and why you bought it. Words like "this kid will grow up" are unreliable.

11. The development of the company is dynamic, the prospect of the company is changing, and there is no stock that you can hold all the time.

12. I always want to find companies that run very well in a depressed industry. if an industry is too hot and competitors enter desperately, the competition will be so fierce that no one can make money.

Patience is a virtue, but if you own stocks that are no longer in their prime, your patience may not always be rewarded.

14. Investing in cyclical stocks is like playing 21:00 poker: if you bet too long, you will end up losing all the money you have won.

When people don't want to talk about stocks with fund managers, the stock market may have to stop falling and rebound.

15，When 10 people would rather talk to a dentist about dental plaque treatment than a mutual fund manager about stocks, it is likely that the stock market will stop falling and bounce back.

16，While trying to avoid a bear market by timing, you often miss the opportunity to dance with a bull market.

In the stock market, time is good for you. When the stock market falls, if you have money and you are not worried about falling, you can increase your position. You shouldn't worry about a temporary fall, you should worry about what will happen to 10-or 20-year-old stocks.

In the stock market, you seldom benefit from being too serious about yesterday's news or too obsessed with an idea.

When you buy a stock, rising or falling in the short term only means that someone is willing to pay more or less for the same stock.

There is no secret information that can better indicate the possibility of a successful stock investment than a company insider who is buying shares in his own company.

A stock that wants to go down from the bottom is like trying to catch a falling knife.

21, bottom buying, like putting a hook underwater to catch a big fish, is one of the most popular investment entertainment, but it is often not the fish but the fisherman who is caught.Trying to buy a falling stock from the bottom is like trying to grab a falling knife.

Not only can't hold it, but it can hurt your hand and cause severe pain, because you're in the wrong place.

Usually a safer way is to wait for the knife to fall to the ground, plunge it into the ground, wobble around for a while, then stop moving, and then it's not too late to grab the knife.

If you are interested in distressed reverse stocks, you should find a stronger reason to buyIt's not because the stock has fallen so much that it looks like it might rebound.

No matter whether a stock is $50 or $1, when the stock price falls to 00:00, you will lose all your money.

One investor lost 99% of his investment after buying at $50 a share, while another investor lost 83% of his investment after buying at $3 a share. is there any reason for those who buy low-priced stocks to laugh at buying high-priced stocks? It is only 50 steps to laugh at a hundred steps, and there is little difference in the degree of loss between the two.

23. The best cure for the illusion that your stock is bound to soar is a fall in the stock price.

There is a psychological tendency to think that now that things have become so bad, they can't get any worse in the future.

It's always darkest before dawn, but sometimes it's always darkest before it gets dark at last.

When a stock is blown into the second place of so-and-so, the stock will run out of bull.

25，When people blow a stock as so-and-so second, it shows that not only this "so-and-so second" stock will run out of steam, but that so-and-so stock will also become a thing of the past.

26. Before buying a stock, I like to do a two-minute meditation on the reasons why I am interested in the stock, how the company can succeed and the disadvantages it will encounter in its further development.

Never invest in a company that you don't know about its financial situation. The biggest losses in buying stocks come from companies that are in poor financial condition.

Unless I have enough confidence in the company that I am willing to buy more shares when the share price falls, I should sell the shares of the company immediately.

29. The magic weapon of investment does not come from Wall Street investment experts, but from what you already have. You can use your experience to invest in an industry or company you are already familiar with, and you can beat the experts.

30，Holding stocks is like raising a child, don't go beyond what you can do.Amateur investors probably have time to track 8-12 companies, but don't own more than five stocks at the same time.

When you understand the original intention of buying a stock, you naturally know the time to say goodbye to it.

31，If you understand why you bought a stock, you naturally know the right time to say goodbye to it.

32，Choosing stocks is like choosing a life partner. Whether divorce is easy or not is not a factor that should be considered before marriage.

33, if I have to choose which investment fallacy is the stupidest, then I will choose this one: when the stock you buy goes up, you think you are choosing a good stock.

34. Looking for good stocks worth investing in is like looking for bugs under a stone. Open ten stones and you may only find one.

If you look at 10 companies, you may find an interesting stock, if you look at 20, you may find 2, and if you look at 100, you may find 10. The company that inspects the most people will win the game of investing.

It is almost impossible to find Daniel stock in a calm and pleasant environment, just as a detective sits on the sofa and wants to find clues to solve the case.

36, the development of the company is dynamic, the prospect of the company is changing, and there is no stock that you can hold all the time.