FYI: When Peter Lynch managed the Fidelity Magellan mutual fund from 1977 to 1990, he was the most famous investor in the country, bigger even than Warren Buffett. During his tenure, Magellan earned an average annual return of 29.2 percent, while its assets grew from $18 million to $14 billion.
Once the 1980’s bull market began in August 1982, the star power of Lynch and a handful of other fund managers caused investors to flock to actively managed mutual funds. For the next decade or so, hot mutual funds, and the managers who ran them, were all the rage.
Regards,
Ted
https://www.bloomberg.com/view/articles/2017-04-25/index-funds-are-finally-sexy-what-a-shame
