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  • bee December 2013
  • hank December 2013
Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Charlies Rose Interviews Peter Lynch: Video Presentation

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  • hank
    edited December 2013
    Ted, fascinating interview. I doubt many will have the "stay-it" power to watch the entire 20-30 minute interview as I did. Though I disagreed somewhat with Lynch's conservative views on public education, that was but a small part of the interview. His thoughts on investing are golden (if not very specific). Charlie Rose is arguably the best interviewer in America today. I can think of only a handful that have come close over the years - one of them being (the now diseased) J.P. McCarthy of Detroit's WJR radio during the 70s-90s. Louis Rukeyser was also a very good interviewer, but shone more brightly through his opening monologues. It struck me watching the interview that a great interviewer like Rose is managing two central elements during the interview: his interviewee and his audience.

    Lynch, of course, is bright and articulate. One in ten American households were invested in his Magellan Fund during its heyday. Unfortunately, I was not among them. I regret that not so much for the lost opportunity in terms if money as for the fact I surely would have learned a great deal from such a competent money manager. I guess my solace is that I did own Templeton World (TEMWX) during the time Sir John ran it.

    Regards


  • beebee
    edited December 2013
    I'd love to sit down with Mr. Lynch sometime. We probably grew up in very similar towns somewhere in New England, but followed very different paths in life. He left me feeling overwhelmed by the inverse proportion of our two lives.

    While Mr. Lynch spent the last 30 years accumulating assets I spent those same years as a inner city school teacher. Personally, the last groups of people to blame for the failures of inner city children are classroom teachers. Kind of like blaming firefighters for arson.

    All kids respond to their environment. So if you fill a neighborhood with poverty, drugs and gang activity then half of all kids will chose that curriculum. If a teacher is lucky, the other half shows up to school (without priors) and merely over tired, under feed and under appreciated. As part of my classroom environment I always first addressed the concepts of hope, respect, and self worth. With any luck, there would be time in the day for Ohm's Law. Underachievers they are not. What I often had the privilege to witness was nothing short of what I would refer to as God's work.

    Mr. Lynch, You probably grew up near towns referred to proudly by there industry. A few I admired growing up were nicknames like; Hardware City, Silk City, and Brass City. Cities that today offer little more than lost opportunity. Opportunities that shifted overseas where cheap labor and profits could be secured elsewhere by companies that chose profit over people.

    I assume you successfully derived a portion of your wealth understanding these calculations and investing in these dynamics. Good for you.

    Charity is the least the two of us owe these kids.
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