Peter Lynch ran the Fidelity Magellan Fund for 13 years, during which time Magellan was the number one general equity fund in America. Lynch’s books One Up on Wall Street and Beating the Street offer up the active manager’s accumulated wisdom.
A generation ago, from the 1940s to about 1970, people tended to purchase whole life insurance. Also referred to as “permanent insurance,” these policies secured the breadwinner’s income for their family in case of an untimely death.
They say a picture is worth a thousand words. In this case, I’d argue that your financial future rides on appreciating the following two drawings by author and Behavior Gap founder Carl Richards. The first illustration illustrates how may investors behave in a volatile market.