Fidelity Investments｜Peter Lynch: Classic Investment Psychology Mistake—Always Fear the Market, Always Miss Out Over 30 years ago, Fidelity Investments Vice Chairman Peter Lynch pointed out a common psychological mistake in the investment market with one simple sentence: 'More people lose money waiting for a market correction than in the correction itself.' In a 1997 interview, he emphasized that the real enemy of ordinary investors isn’t the market downturn itself, but the missed opportunities caused by the fear of a downturn. Lynch believes that instead of trying to predict the market, ordinary investors should ask themselves: If my position drops by 10% or 20%, what will I do? Can I handle it? If not, then you should reduce your position immediately. Peter Lynch’s investment advice from 30 years ago is still relevant today.