Peter Lynch's Market Advice: 'If You Have Lot of Stocks, Some Will Do Mediocre, Some Will Do Okay,' If One or Two 'Go Up Big Time, You Produce a Fabulous Result'
Renowned investor Peter Lynch once opened up about his early experiences in the stock market, his initial investment, and the philosophy that guided his successful investing career.What Happened: Lynch, who is famous for his successful stint at Fidelity’s Magellan Fund, traced his interest in the stock market back to his childhood in the 1950s. His curiosity was piqued while working as a caddie at a golf club in West Newton, where he would often overhear corporate executives discussing stocks.While studying at Boston College on a caddie scholarship, Lynch made his first investment in Flying Tiger, an air freight company. Convinced of the future of air cargo, he invested $1,000. The stock’s value soared during the Vietnam War as the company was involved in transporting troops, giving Lynch his first “ten bagger” – a term he coined for a stock that returns ten times the investment.Lynch’s investment ...Full story available on Benzinga.com
