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Wednesday, March 02, 2005

From quoteron to quote tickers

Peter Lynch, an investment guru, ran Fidelity's magellan Fund for 13 years (1977-90), providing a return of 2700%. One of the things that struck me while reading his book, Beating the street, a few years ago, was his reference to the constant stock prices bombarding investors through television and tickers. When Lynch, was managing the Magellan fund, and in a world yet to experience information overload, he had to use a Quoteron, a machine with a blank screen, where you had to punch in the symbol to get the stock price.
Today, it is impossible to watch any business channel with seeing the stock price movement and in disdain i switched off the television on budget day, as commentators try and make sense for every gyration - when perhaps no explanation is the best explanation.
May be, we are getting caught in an information warp and forgetting the age old maxim,
a watched stock seldom appreciates.

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