One up on Wall Street by Peter Lynch - My favourite lines (Part I)

I began investing when I was 24 in small amounts. I was really fascinated by the way the stock market works and the money the people make in investing in stocks. I have read some books like Rich Dad Poor Dad by Robert Kiyosaki but I wasn't getting the real juice out of any as I was expecting a different flavour.

So this happened right after my second semester at Christ University started that I went to the library to take a book other than our subject area just to fill my bag and for my personal satisfaction. That is when I came across this book One up on Wall Street by Peter Lynch which has really made be stick to the book for this long. I will be writing this post continuously till I finish reading this book so that I could tell you my favourite quotes from this lovely book.

1. Investment strategy: During the Gold Rush, most would-be miners lost money, but people who sold them picks, shovels, tents and blue jeans (Levi Strauss) made a nice profit.
2. My clunkers remind me of an important point. You don't need to make money on every stock you pick. In my experience, six out of ten winners in a portfolio can produce a satisfying result. Why is this? Your losses are limited to the amount you invest in each stock, while your gains have no absolute limit.
3. The more you are right about one stock, the more wrong you can be on all the others and still triumph as an investor.
4. In stocks you've got the company's growth on your side. In bonds, you're nothing more than the nearest source of spare change.
5. No wonder people make money in the real estate market and lose money in the stock market. They spend months choosing their houses, and minutes choosing their stocks. In fact, they spend more time shopping for a good microwave oven than shopping for a good investment.
6. Personal qualities to succeed in stock market: Patience, Self-reliance, Common sense, a tolerance for pain, Open-mindedness, Detachment, Persistence, Humility, Flexibility, Willingness to do independent research, an equal willingness to admit to mistakes, and the ability to ignore general panic.