Postcards from a Billionaire Island
St. Barths is small enough to walk across in an hour. There aren't any rules here. Everyone just wants to dance, eat, and have a great time. The food is not great, but nobody cares. The trader in me cannot stop noticing things, and I want to share something that has nothing to do with charts. Peter Lynch built one of the greatest investing track records in history while running Fidelity's Magellan Fund. He averaged 29% per year for 13 years. The best investment ideas, he said, don't come from a Bloomberg terminal. They come from paying attention to the world you're already in. He famously bought Hanes after his wife came home with a pair of L'eggs pantyhose from the grocery store. Dunkin' Donuts came from watching the lines out the door at the local shop. Taco Bell happened because his kids couldn't get enough of it. He noticed