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Legendary Investor Peter Lynch, famous mutual fund manager of Fidelity Magellan, debunks the following myths of conventional investing wisdom in his famous book One Up On Wall Street.

The Twelve Silliest (and Most Dangerous) Things People Say About Stock Prices:

(I) If It’s Gone Down This Much Already, It Can’t Go Much Lower

(II) You Can Always Tell When A Stock’s Hit Bottom

(III) If It’s Gone This High Already, How Can It Possibly Go Higher?

(IV) It’s Only $3 A Share, What Can I Lose?

(V) Eventually They Always Come Back

(VI) It’s Always Darkest Before The Dawn

(VII) When It Rebounds to $10, I’ll Sell

(VIII) What Me Worry? Conservative Stocks Don’t Fluctuate Much

(VX) It’s Taking Too Long For Anything To Ever Happen

(X) Look At All The Money I’ve Lost: I Didn’t Buy It!

(XI) I Missed That One, I’ll Catch The Next One

(XII) The Stock’s Gone Up, So I Must Be Right, Or … The Stock’s Gone Down, So I Must Be Wrong