Word: mutually
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Dates: during 1990-1999
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...aims, its charter says, "to establish a support network of scholars, alumni, teachers, administatrators and community residents," who will shop or excercise with the disbled, or who will help the disabled put together resumes or take notes. Dunne emphasizes that Networks is not a volunteer organization, but one of "mutual support...
...transmuted their modest savings into solid wealth. Since Lynch began running the then tiny Fidelity Magellan fund in 1977, its shares have surged 25-fold in value -- far more than the fourfold gain for the Dow Jones industrial average during the same period or the increase for any other mutual fund. Lynch, 46, built Boston-based Magellan from a $22 million operation into a $13.3 billion monster, the world's biggest and most celebrated fund. And he did it the old-fashioned way, through 13-hour workdays and an almost unerring eye for bargains that others seemed to miss...
...brace for a possible rush to redeem Magellan shares in the wake of his departure, Lynch had been quietly accumulating a $1.8 billion cash hoard as part of the mutual fund's portfolio of 1,400 stocks. At week's end nervous investors were redeeming Magellan shares at a rate 75% faster than that of the previous week...
...presence, a homespun stock picker who disdained the pretensions of the experts and regularly beat them all. His 1989 best seller, One Up on Wall Street, made him almost a household name. "Lynch was more than a great money manager," says Donald Phillips, editor of the Chicago-based newsletter Mutual Fund Values. "He was a credible and trustworthy spokesman for the entire industry. There really isn't anyone who can fill his shoes...
...product of Magellan's astounding success. They contend that the fund had become so large and unwieldy that it was no longer possible for Lynch to outperform the market as consistently as he once had. Says Maurice Weiner, a Florida-based investor who sits on the board of a mutual fund: " Every time you add another dollar to manage, you are increasing the odds against...