Word: wrongfulness
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Dates: during 1980-1989
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...right, gentlemen, we all agree there is nothing wrong with the Broadway musical that a few hits wouldn't cure. But what we need is some new ideas...
Spunky Argentine firecracker from wrong side of tracks rides casting couch to boffo b.o. in Buenos Aires, weds political top dog, rips off nation, gets cancer and dies...
...That's my predicament." And Loretta, just engaged to an agreeable loser (Danny Aiello), is seduced by her fiance's one-handed brother Ronny (Nicolas Cage). He has no illusions about love. "We are here to ruin ourselves and to break our hearts and love the wrong people and die," he observes with hangdog intensity. "Now I want you to come upstairs with me and get in my bed!" Who could refuse...
...Wrong. More than 1 million households in Boston's Fidelity Magellan, the biggest and most celebrated mutual fund, watched the price of their shares plunge by nearly 23% in three days of trading. In an unusually candid and revealing series of interviews with TIME, Peter Lynch, Magellan's manager, offers no excuses. "I was caught in a trap," he says. "I should have paid more attention to the red flags out there...
More than a vacation was wrecked. So was Lynch's aura of invincibility. For ten years, Lynch, 43, had been the wunderkind of the investment world, the man who could do no wrong. Magellan was the brightest star in the galaxy of mutual funds offered by Fidelity Investments, which manages more than $75 billion for investors. Between 1977, when Lynch took over Fidelity Magellan, and the beginning of last October, the value of the fund's shares grew by more than 2000%. A $1,000 investment made ten years ago was worth $21,437.70. No other mutual fund came close...