Equities… a good place to be: Peter Lynch

The so-called lost decade has not shaken legendary investor Peter Lynch’s belief that the stock market will continue to offer the best returns.

The dismal returns of the past ten years have made them known as the lost decade on the US stock market, raising the question whether investment in stocks has lost its luster. Who better to answer that question than the person considered one of the best mutual fund managers in US history, Peter Lynch?

Lynch, 66, the legendary manager of the Fidelity Magellan fund, took over the running of the fund in 1977, and from then until he left the post in 1990, he managed to beat the S&P 500 Index in 11 years out of 13. Under his management, the fund yielded an exceptional annual return of 29.2%, almost double the average for the index of 15.8%. The greatness of Lynch’s achievement can be seen from the fact that even today, 20 years after he stopped managing the fund, his books “One Up on Wall Street,” “Beating the Street,” and “Learn to Earn,” are still best sellers among investors.

Today, Lynch is a research consultant at Fidelity Investments. He devotes the rest of his time to philanthropy, through a fund that he manages that awards scholarships to children from low-income families who study in Catholic schools in Boston, where he lives.

In an exclusive interview with “Globes”, Lynch gives his view of the recent crisis and its consequences for the markets, and has no hesitation is sounding optimistic about the next hundred years for the stock market.


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