Investing 101: Know what you own

Peter Lynch is an investing legend. (Image: Getty)

Sat, 02 Nov 2024

World-renowned investor Peter Lynch famously coined the mantra: “Know what you own and know why you own it.”Lynch took over the Magellan Fund at Fidelity in Boston when he was 33. It had US$20 million (NZ$33.4m) in assets, and he grew it to US$14 billion, achieving an average annual return of 29.2%. He retired at 46, is worth half a billion US dollars, remains Fidelity's vice chair, and gives lots of money to charities. What an investing legend. Now, this is the important part of this opinion piece. Read. It. Slowly.Th...

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