PETER LYNCH 00:00
If the answer changes the story, then think again. Keep your story up-to-date. Don’t check on it three times a day, but don’t just ignore it either and checking the price of the stock does not count. It is checking the fundamental story.
Don’t expect to make a ton of money overnight. The stock market does provide the highest return for long term investments. But that’s not a month or two months a year. If you need the money next winter, you don’t have the tolerance to keep it tied up for the long term, then stocks may not be for you.
Don’t forget to use your edge. These are all kinds of things that you know about because of where you live, what you do. You have lots of edges. Use them.
And finally, remember that stock picking isn’t gambling and it isn’t for everyone. You have to be prepared to do some work. You have to be prepared for market declines. If you enjoy doing research, enjoy learning about companies, you have the stomach for the ups and downs of the stock market, then investing can be a lot of fun. These principles of investing worked well for me. I hope they can help you.
You should not be intimidated. Everyone can do well in the stock market. You have the skills, you have the intelligence, it doesn’t require any education. All you have to have is patience, do a little research, you’ve got it.