Peter was good with the media. He gave interviews, he talked about stocks with intensity, people liked that. He's a very, very smart guy. He's an acknowledged leader in the field. And that put a personality to the fund, to Magellan and to Fidelity.
Quotes about magellan (7 Quotes)
I believe it was Magellan who said, 'The Church says that the Earth is flat, but I know that it is round. For I have seen the shadow on the moon and I have more faith in the Shadow than in the Church.'
When we closed (Magellan), we were aware of the fact that it was likely some day another fund would surpass it, but that wasn't a concern of ours. Growth in and of itself has never been our goal.
If your goal is to restrict the asset growth of Magellan to keep it a smaller and more nimble fund, this isn't going to do it.
It's absolute crap that people need to spend 60 hours a week analyzing companies, ... All you need are a few stocks to make money. If you find one stock a year, that's plenty. When I was running Magellan I had to find one a week but that was because I had billions of dollars. The average person needs only a few good stocks in a lifetime.
People gravitate towards Magellan and it really hasn't let them down for the most part, so I think it says a lot for our economy, it's followed our economy an is responsible, in large measures, for the success that consumers have today.
We're delighted to continue our relationship with Magellan, a widely recognized and respected managed care organization. Working together, we've been able to develop solutions to assist Magellan in delivering specialized claims services to some of its government and commercial clients.