Rebirth 79: I opened a bank in the United States

Chapter 444 Isn't it good for you to buy a propeller plane?

"You are. Carter?! How did you become like this?!"

Carter, who was dressed in rags, did not encounter the so-called dog-eyed security guards when he entered the building where Fidelity Investment was located.It's just that the frequent glances of the people around him and Peter Lynch's exclamation at this time made Carter feel a little hot on his cheeks.

Of course, the inner cause of people's blush is not all the gazes of these irrelevant people.In fact, for communication with Fidelity Investment, let HT company pay for the plane for itself, this matter
For Carter, who was just a fledgling at this time, it was really a bit embarrassing.

It's like when you buy a car, you don't pay for it yourself, but you find a large circle of friends around you, and everyone pays for it for you.Note that it is to let others pay for it, rather than borrowing money from relatives and friends yourself, and you don't have to pay back the money yourself!
Think about it, ordinary people, how can they have such a thick skin to open such a mouth? !
"Oh, I was robbed on the road"

The sadness on Carter's face is extremely sincere, in order to perfectly star in this tragic drama.In the morning, Carter deliberately pocketed 20 dollars and walked on the streets of Boston, but nothing unexpected happened.
Not to mention, the robbers in Boston are very well-bred and very polite.Seeing that Carter took out the money obediently, he didn't even show his gun. After getting the money, he said thank you, and then turned around and left.

It is very different from what Carter experienced in Cincinnati, or from the New York robbers seen in the reports!

"Snatched?! Do you have any documents? There are other things. Let me contact the police station. Where did you meet this?"

"No, no, no. It's not much, it's only $20, forget it."

Holding Peter Lynch's hand ready to touch the phone, Carter used his emotions to quickly talk about the reason why he wanted to buy a plane:

"This is not in Cincinnati. I was robbed of more than 20 yuan and almost got shot. It's [-] yuan. It's really not worth the trouble, and it's useless if you catch it."

"You still have bodyguards in Cincinnati? Didn't you bring bodyguards with you to such a strange place?"

"I brought them, but they didn't have guns. They were held to their foreheads with guns. What can they do?"

Carter spread his hands helplessly, and sat down opposite Peter Lynch:

"On the one hand, there is security check at the airport, and on the other hand, the blue city doesn't carry a gun. If you want to carry a gun, you have to drive. It's too inconvenient. Sometimes it's faster to take a plane when you go out for something urgent!"

The topic gradually moved closer to the plane, and Carter, who was just quietly observing Peter Lynch's reaction, was embarrassed to find that the other party seemed not aware of his subtext at all.Just nodding his head in agreement:
"Indeed, the urgent thing is that the plane is faster. By the way, is there anything you need to do when you come to Boston this time?"

"It's nothing serious, I just stopped by to see you. From Ohio along the shore of Lake Erie, come directly, and then go back to Yale. This is a gift for you, and it belongs to Mr. Smith."

Peter Lynch: .
Didn't you get robbed?Where did this gift come from?

Also, do you need to detour through Massachusetts to get back to Connecticut from Ohio? !
After a short period of astonishment, Peter Lynch seemed to understand something, and he patted his forehead suddenly:
"You came at the right time. Have you received the email I sent you before? The email about the Magellan Fund's earnings as of the middle of the year. Last year, the entire market did not perform well, and the impact of the Fed's tightening monetary policy began to ferment. Compared with the 79 years 51.73%, and 80% in 69.45. Although this year is not over yet, it is only about 17% so far, so there is probably no hope of improvement.”

Taking a stack of documents at hand, Lynch handed it to Carter:

"So far this year, the S&P 500 has fallen by 4.92%, and the Russell 2000 has only risen by about 2%. Strictly speaking, the performance of the Magellan Fund is not bad. In terms of performance, it is not as bright as the past two years.”

"This is not your problem, Mr. Lynch. It is not easy to achieve such a result when the overall market is sluggish. To tell you the truth, my bank lost a whole year last year, and it was all due to my investment Other industries are being supported by blood transfusions. If it hadn’t been for HT, it would have collapsed long ago.”

Carter doesn't care about the low returns of the Magellan Fund last year.Although I don't know much about finance, as long as I am not blind, I can see the trend
From the perspective of the stock market, when the rate of return of the Magellan Fund in 80 reached 69.45%, the S&P 500 rose by 32.5%, and the Russell 2000 rose by 38.6%.That kind of exaggerated fund income, which has increased by nearly [-]% in a year, is definitely impossible to normalize.

"Yeah, when this cycle comes, I can only find a way to survive this period of pain. By the way, Magellan Fund is about to open. In order to form a scale effect, I still have no dividends this year. You should not rush to use it." money?"

Peter Lynch looked at Carter with a serious expression:

"Sorry, I may be a little selfish in this regard. It's just that the net value of the unit share is higher, coupled with a fairly good rate of return. For Magellan, it will be more competitive in the market. It is really this year. This year, I have not done a bit According to my expectations, my ideal was a yield of more than 20%, so that it could be opened to the public after several years of stability, but this year, the last year encountered a big bear market.”

"Money is okay, there is only one place to spend money recently."

Carter suddenly grinned.

This is a bit of a coincidence: Peter Lynch took a detour to Massachusetts and asked him why he didn't pay dividends last year and why he didn't pay dividends this year.Can own purpose.
"I'm going to buy an airplane! Now that I'm studying at Yale, it's not as convenient as it used to be in Georgia. I often have to travel around, and New Haven is a small city with only one small airport with three airlines, which is too inconvenient. And passing by After what happened in Cincinnati, even if it is for safety and for the convenience of carrying weapons, I am afraid that this plane must be bought."

"That's true. It would be more convenient to have an airplane. Why? Don't you have enough money?"

Seeing Carter's embarrassment, Peter Lynch suddenly thought of a possibility:
"You're not planning to buy a jet, are you?!"

"That's right, I had this idea after I met Paulson of Gulfstream two years ago. But I didn't have much money at that time. In fact, I don't have much now, but this is not forced by the situation. Can't I just buy it?! What if someone really gets caught?" Did it crash with one shot?!"

"Oh my God, why don't you buy a propeller? It costs up to fifty thousand dollars, and it can fly. It's definitely not as fast as a jet, but it's much faster than a car."

Thinking of the possibility of redemption of fund shares, Peter Lynch's handsome face instantly collapsed:
Seeing that the fund is about to go public, the largest individual investor withdraws and redeems at this time. Combined with the unsatisfactory yield on paper this year.
What a fart! !
(End of this chapter)