First Post - Learning the basics of the stock market

I was going through a book called "One Up On Wall Street" by Peter Lynch. A few brief points that Peter mentioned that are worth noting.

1. Don't overestimate the skills of professionals
2. Invest in a house before investing in a stock
3. Look for opportunities that have not yet been discovered
4. Invest in companies and not in the stock market
5. Ignore short term fluctuations
6. Large profits and loss can be made in a common stock
7. Predicting the short term direction of the stock market is futile
8. Predicting the exonomy is futile
9. Long term returns on common stock is predictable and better than long terms returns from bonds
10. Common stock is not for everyone
11. The average investor is exposed to interesting local companies and products years berfore the professionals
12. Having an edge will help you make money in stocks.

As I go through further chapters, I will post my summary here.