Book: Beating the Street by Peter Lynch with John Rothchild | ISBN: 978-0-671-75915-5
By mid-1983, Lynch owned 450 stocks. By fall, that number had doubled to 900. He had to be ready to tell 900 different stories to his colleagues in 90 seconds or less. Which meant he actually had to know all 900 stories.
Book: Beating the Street by Peter Lynch with John Rothchild | ISBN: 978-0-671-75915-5
Peter Lynch’s day started at 6:05 AM in the backseat of a friend’s Saab. His buddy Jeff Moore drove while his wife Bobbie held X-rays up to a small light in the front seat. Lynch sat in the back with his own light, reading annual reports. The X-rays never got mixed up with the financial reports.
Book: Beating the Street by Peter Lynch with John Rothchild | ISBN: 978-0-671-75915-5
Peter Lynch didn’t start Magellan. He inherited it. And what he inherited in 1977 was kind of a mess.
Book: Beating the Street by Peter Lynch with John Rothchild | ISBN: 978-0-671-75915-5
Peter Lynch turned off his Quotron machine at Fidelity Magellan Fund on May 31, 1990. He’d been running the fund for exactly 13 years. In that time he’d purchased more than 15,000 different stocks. He could remember 2,000 stock symbols.
Book: Beating the Street by Peter Lynch with John Rothchild | ISBN: 978-0-671-75915-5
Peter Lynch ran the Fidelity Magellan Fund for 13 years. During that time, he turned every $1,000 invested into roughly $28,000. He bought more than 15,000 stocks. He beat the market almost every single year. And then, at age 46, he quit.