Peter Lynch ran the Fidelity Magellan fund for over 15 years and anyone who bought and held this fund for 5 years or longer did very well. I also like to use mutual funds in markets like the U.S. or global for diversification. For a good manager I recommend Mawer Investments out of Calgary. Mutual funds are like stocks in that the longer you hold hem the better the chance that you make money.
I met Peter Lynch in the mid-1980's and we met for lunch to discuss investments from time to time. Peter made about $300 million. I doubt any of Magellan's clients made $300 million although Peter is a legend and his investors did well. Save you recommendations for those who need advisors - there is no world in which I would pay anyone to manage my money. My return in 2021 was 188%; this year over 30% in a down market; and, I have done better than major indices for decades.
Soros money did not come from having anyone else manage his money. He is listed as one of the billionaires who became billionaires managing other people's money.
Druckenmiller became a billionaire managing money for others, which is my point. Soros made his billions betting against the British pound and by managing money for others. His billions came from his fund management and he is just another example of a fund manager getting rich.
Good summary for retail investors. You might like this:
https://www.newyorker.com/humor/borowitz-report/world-shocked-that-man-running-business-based-on-imaginary-money-might-be-fraud
Peter Lynch ran the Fidelity Magellan fund for over 15 years and anyone who bought and held this fund for 5 years or longer did very well. I also like to use mutual funds in markets like the U.S. or global for diversification. For a good manager I recommend Mawer Investments out of Calgary. Mutual funds are like stocks in that the longer you hold hem the better the chance that you make money.
John in Ottawa
I met Peter Lynch in the mid-1980's and we met for lunch to discuss investments from time to time. Peter made about $300 million. I doubt any of Magellan's clients made $300 million although Peter is a legend and his investors did well. Save you recommendations for those who need advisors - there is no world in which I would pay anyone to manage my money. My return in 2021 was 188%; this year over 30% in a down market; and, I have done better than major indices for decades.
Warren Buffet and Berkshire Hathaway, not thru mgmt fees
Berkshire is an operating company, not a hedge fund or mutual fund.
George Soros
Soros money did not come from having anyone else manage his money. He is listed as one of the billionaires who became billionaires managing other people's money.
Stan Druckenmiller, for one,( many others) have managed Soro’s money.
Druckenmiller became a billionaire managing money for others, which is my point. Soros made his billions betting against the British pound and by managing money for others. His billions came from his fund management and he is just another example of a fund manager getting rich.
They were skillful managers who were employed by him. Many.
David Gottesman and Franklin Otis Booth, Jr. are two who became billionaires investing in Berkshire Hathaway.
Berkshire is an operating company, not a hedge fund or mutual fund.