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.
About this quote
- What does it mean?
- Even skilled investors are wrong about half the time; being right enough is sufficient.
- In plain terms
- Experts are wrong a lot.
- What can you take from it?
- Accept mistakes as part of the process.
Where it applies
Putting it to work
Questions to consider
- How do you handle being wrong?
- What is your success rate?
Another view
In high stakes contexts being wrong six times out of ten may not be acceptable.
More from Peter Lynch
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 …
Permalink to quote #4 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.
Permalink to quote #6 The key to making money in stocks is not to get scared out of them.
Permalink to quote #3
Related quotes
Fiction has to be plausible. All history has to do is happen.
Harry TurtledoveHarry Turtledove quote #1 Why not do what you really think, even if it's a mistake?
Jake GyllenhaalJake Gyllenhaal quote #5 There is no harm in being sometimes wrong - especially if one is promptly found out.
John Maynard KeynesJohn Maynard Keynes quote #11