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Peter Lynch has a word for people who have gone all-in on passive investing: You’re losing out. “The move to passive is a mistake,” the former Fidelity Magellan fund manager said in an interview with Bloomberg Radio’s Baystate Business to be broadcast Tuesday.
The stock-pickers are shining again at Fidelity Investments. Fidelity Magellan, the mutual fund made famous in the 1980s by Peter Lynch, is trouncing its benchmark and peer group this year. Magellan returned 6% through Wednesday while the S&P 500 index lost 2.5% with dividends reinvested. The $19 billion fund was beating 95% of its competition as of Tuesday, according to data compiled by Bloomberg.
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