YAPSSCollection: Peter Lynch - #7 'After Retirement'
[Transcript]
CHARLIE ROSE 00:00
See I've been wanting – I've been you know we had this wonderful interview and I said – I would occasionally say whatever happened to Peter Lynch, he quits? (Laughter) It's one of those things because whatever happened to Peter Lynch?
PETER LYNCH 00:13
Right.
CHARLIE ROSE 00:13
Is my question.
PETER LYNCH 00:14
It's funny, people said he'll start his own fund. He'll do a hedge fund I said no. I've had enough of the BCF (ph).
CHARLIE ROSE 00:19
He wants to do it all on his own, he doesn't need the great Fidelity. You know as a –
PETER LYNCH 00:24
Well I recover small transmission is one gear, overdrive. That's it.
CHARLIE ROSE 00:27
Yes. (Laughter)
PETER LYNCH 00:28
So you can't sort of run a fund.
CHARLIE ROSE 00:29
Yeah. (Laughter)
PETER LYNCH 00:30
And I have a lovely wife Caroline and three children.
CHARLIE ROSE 00:31
Right, right.
PETER LYNCH 00:32
I wanted to do other things so I'm now worked very part time with younger analysts it's been – my father died at 46.
CHARLIE ROSE 00:37
Yes and was that the reason 46?
PETER LYNCH 00:40
Because it sticks in your mind. He took sick when he was 43, died at 46. Maybe I was going to live to 146 but I said I love the job, I love the company but I worked every Saturday for 11 years.
CHARLIE ROSE 00:49
Yeah.
PETER LYNCH 00:50
I just wanted to spend more time with my wife and family.
CHARLIE ROSE 00:52
And you were constantly on the road because you believed in –
PETER LYNCH 00:54
You got it.
CHARLIE ROSE 00:55
Being there. In fact you would take her with you.
PETER LYNCH 00:56
Yes.
CHARLIE ROSE 00:57
And family with you because you know in search of understanding the company.
PETER LYNCH 01:01
Correct, that's it.
CHARLIE ROSE 01:02
And so what have you learned since then? I mean do you look back and say "Oh, I stopped too early." B, "I stopped too late?"
PETER LYNCH 01:12
No, I – it's lucky, it was a perfect time. It was an absolutely perfect time to be able to see all my three children grew up and now they're all married. And I spend time with my grandchildren. You know it's fabulous.
(Source: https://charlierose.com/videos/17771#)