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Fidelity Magellan

Mark Hebner and Tom Cock discuss the past performance of Fidelity Magellan, a mutual fund that experienced past highs and recent lows. Hebner presents a chart titled, “Fidelity Magellan’s Alpha over Many Managers,” comparing Fidelity’s performance to other managers from 1964 to 2010, including Peter Lynch’s high performance years. Mark explains “alpha” and shares the message that the market is unbeatable and that it’s advisable to let go of the idea of finding a guru who can look into a crystal ball and predict the future.