Legendary investor Peter Lynch once said, "Maybe you’re right 5 or 6 times out of 10. But if your winners go up 4- or 10- or 20-fold, it makes up for the ones where you lost 50%, 75%, or 100%." The quote captures one of the most important principles of long-term investing: exceptional gains from a handful of successful investments can more than offset losses from unsuccessful ones.
Success Doesn't Require a Perfect Record
