Word: magellanic
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...WHEREVER MAGELLAN GOES, PEOPLE follow. America's largest mutual fund, with $53 billion in assets, is so big that it creates a wavelike surge in share prices on its shopping trips through the stock market. In the days of the legendary Peter Lynch, who averaged a 29% return from 1977 to 1990, the fund spread the money widely, typically carrying about 1,400 stocks in such traditional industries as retailing and banking. But now Magellan is steered by Jeffrey Vinik, 36, who is managing a fund that is five times the size of the one Lynch left behind. And Vinik...
...MAGELLAN SATELLITE...
Remember back in junior high when your teacher gave you alternatives to writing academic exercises and instead let you format papers in fictional dialogues between famous people? Imagine what Cicero would have said to Karl Marx if they ever met on the street. Write a conversation between Dante and Magellan about sailing around the wold or under it, and so on. So along comes Steve Martin who went to school before teachers were this nice, and he decides to write a fictional meeting between two of the 20th century's most formative figures, Pablo Picasso and Albert Einstein, not knowing...
...first maps of the New World, drawn back in the age of Columbus and Magellan, were pitifully primitive. The early European explorers and cartographers thought that America was just a narrow strip of land and that the Pacific Ocean was small enough for a galleon to cross in a couple of weeks. But despite all their shortcomings, those first stabs at mapmaking captured the imaginations of adventurers and spurred more voyages of discovery...
Experts say the remedy for such roller-coaster rides is to invest for the long term rather than trade frequently in an effort to time market swings. "Stock market declines are normal," says Peter Lynch, who notes that the Fidelity Magellan Fund he managed fell nine times during his 13-year tenure. "Stocks have still averaged an 11% return through depressions and world wars," Lynch adds. "But if you're unable to stand volatility, you should not be in. If you spend more than 14 minutes a year worrying about the market, you've wasted 12 minutes...