Peter Lynch: 10 Investing Myths

1. It can't go any lower (it can go a lot lower)
2. How high can it go? (it can go a lot higher)
3. They Always Come Back (No they don't)
4. How much can I lose? If your neighbor invests $10,000 at $50 and you invest $25,000 at $3 and it goes to $0, who loses the most? Surprisingly, many investors can't answer this correctly, says Lynch. 
5. It's always darkest before the dawn. Don't think the business can't get worse.
6. I will sell after the rebound, after the stock gets back to what I paid for it. (Note: the stock doesn't know you own it.)
7. I own conservative stocks (I don't have to worry).
8. I lost money by not buying. (You actually didn't lose anything)
9. Stock is up, I must be right. Stock is down, I must be wrong.
10. Avoid long shots. They don't work.