Collection: Peter Lynch - #7 'After Retirement'

Video Link: https://youtu.be/o460nsgJAYg

In this episode, Peter Lynch was asked why did he quit being a fund manager at Fidelity and what did he do after retirement?

In this episode, you’ll learn:

• What happened to Peter Lynch after retirement?

• Why Peter Lynch quit being a fund manager at Fidelity?

To check out all Collection: Peter Lynch <click here>

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[Transcript]

(Source: https://charlierose.com/videos/17771#)

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.