It would be wonderful if we could avoid the setbacks with timely exits, but nobody has figured out how to predict them.
Peter LynchThat's not to say there's no such thing as an overvalued market, but there's no point worrying about it.
Peter LynchWhen people discover they are no good at baseball or hockey, they put away their bats and their skates and they take up amateur golf or stamp collecting or gardening. But when people discover they are no good at picking stocks, they are likely to continue to do it anyway.
Peter LynchWhat makes stocks valuable in the long run isn't the market. It's the profitability of the shares in the companies you own. As corporate profits increase, corporations become more valuable and sooner or later, their shares will sell for a higher price.
Peter Lynch