Seeking wisdom from Peter Lynch

Below are 18 quotes by Peter Lynch I like most, let's find some wisdom or guidance from the stock investment legend:-
1. The key to making money in stocks is not to get scared out of them.
2. If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won't get bored.
3. There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating.
4. Behind every stock is a company. Find out what it's doing.
5. Owning stocks is like having children -- don't get involved with more than you can handle.
6. If you can't find any companies that you think are attractive, put your money in the bank until you discover some.
7. If you don't study any companies, you have the same success buying stocks as you do in a poker game if you bet without looking at your cards.
8. Time is on your side when you own shares of superior companies.
9. Never invest in any idea you can't illustrate with a crayon.
10. Know what you own, and know why you own it.
11. 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.
12. It would be wonderful if we could avoid the setbacks with timely exits, but nobody has figured out how to predict them.
13. The typical big winner in the Lynch portfolio generally takes three to ten years to play out.
14. 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.
15. All you need for a lifetime of successful investing is a few big winners, and the pluses from those will overwhelm the minuses from the stocks that don’t work out.
16. Long-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.
17. Investing in stocks is an art, not a science, and people who’ve been trained to rigidly quantify everything have a big disadvantage.
18. The simpler it is, the better I like it.