Peter Lynch is a mutual fund legend.
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A Wall Street legend explained the strategy that made him one of the best stock pickers of all time
In an interview with Kip McDaniels at Institutional Investor, Lynch explained the investment strategy that allowed him to beat the S&P for 11 years.
"I have no prejudice, no bias. I will buy companies with unions. I will buy companies that aren't growing. I will buy companies that are airlines. I'll buy insurance companies. I'll buy banks," he said.
Lynch told McDaniels that investing is basically a numbers game, inasmuch as the more firms you look at the better chance you have finding a good buy.
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"I think if you look at ten companies, one is probably a bargain. One is mispriced. If you look at 20, it's going to be two. If you look at 100, it's going to be ten," he said.
In other words, "the person who turns over the most rocks wins the game."
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