It would be wonderful if we could avoid the setbacks with timely exits, but nobody has figured out how to predict them.
Peter LynchLong-term investing has gotten so popular, it's easier to admit you're a crack addict than to admit you're a short-term investor.
Peter LynchThere's no use diversifying into unknown companies just for the sake of diversity. A foolish diversity is the hobgoblin of small investors. That said, it isn't safe to own just one stock, because in spite of your best efforts, the one you choose might be the victim of unforeseen circumstances. In small portfolios, I'd be comfortable owning between three and ten stocks.
Peter Lynch