Word: magellans
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...smaller partners; in San Jose, California. ARRESTED. BADARUDDIN ISMAIL, 56, Malaysian human- rights activist and the 10th person arrested this year under the country's draconian Internal Security Act; in Kuala Lumpur. DIED. DAVID WALKER, 56, former astronaut who commanded the 1989 Atlantis voyage and launched the Magellan probe that mapped the surface of Venus; in Houston, Texas. Walker also flew on three other U.S. space shuttle missions, including the 1984 Discovery, which was the first successful attempt at retrieving satellites from orbit. DIED. ISAAC ("IKE") COLE, 73, jazz pianist and composer and brother of the late Nat ("King") Cole...
...hovering around 3000. As Americans recovered from the excesses of the '80s, it seemed they were swearing off materialism and the stressful careers that supported it. Even mutual-fund guru Peter Lynch was downshifting. Lynch had just stepped down as manager of Fidelity's colossal Magellan Fund to spend more time with his wife and three daughters. "I adored my job," Lynch says, checking in from a vacation in the Grenadines. "But I couldn't get away from it. I was missing soccer games, piano recitals and just going to the movies with my wife." Lynch still works for Fidelity...
...those rejecting the rat race to spend more time with their families, perhaps the most famous is Peter Lynch. While the 47-year-old investment superstar was busy building the Fidelity Magellan mutual fund into a $13 billion behemoth, his youngest daughter got to be seven years old, and he felt he hardly knew her. Last spring he stunned Wall Street when he decided to give up his 14-hour workdays. With a nest egg estimated at $50 million, Lynch could well afford to quit. But many ordinary people evidently felt a connection with what he did, for he received...
Fortunately, we had an onboard navigation system, the Magellan 750NAV, in our Hertz rental car. While I drove, Danny punched in our coordinates. The NAV system computed the location of the closest 7-Eleven and--miraculously--displayed turn-by-turn driving instructions on a large, easy-to-read map while also reading them aloud...
Like a lot of us, Vinik learned that the hard way. His biggest mistakes occurred when he made too much of his grand view. While at Magellan, he famously shifted into bonds one year, only to have stocks surge ahead. The "classic mistake," he says, is taking your eye off developments at individual companies...