Collection: Peter Lynch - #3 'Hold Your Great Stocks'

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In this episode, Peter Lynch talks about why you should actually hold the really great stocks instead of taking profits when the company is going up.

In this episode, you’ll learn:

  • A line that Warren Buffett took from Peter Lynch.

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Now a lot of people when they’re lucky enough or smart enough to get a company that’s going up they then – they take their profits.




And you made the case in a book that you should actually hang in there with the really great stocks and you even got a call from Warren Buffett as a result.


In 1989 I’m at home, the phone rings and those weren’t my friends but one of my daughters, six-year-old Annie picked up and said, “there’s a Mr. Buffett online”. I said "that’s got be a joke."

I picked it up and this is Warren Buffett from Omaha, Nebraska. I read your book [inaudible], can I use your line? He said it all about seven seconds and I said that’s great, I’d love to do it, what’s the line?

He said I love this it’s been waiting to do this. When you sell your great companies and add to the losers it’s like watering the weeds and cutting the flowers. He said I want to put it in.

He said if you ever come to Nebraska you don’t call me, you’ll be [inaudible] all over Nebraska.


So, did you call him?


Oh yeah, several times we play bridge together. We’ve had several meetings. Great guy.

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