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on 13 years the market went down nine times and every time the mark went down magellan went down it was nine for nine and uh you know because it's it's great it's very important it's another one of these numbers you had to write down if you put a thousand dollars in a stock all you can lose is a thousand i've done that several times and uh but if you're right you can make five thousand ten thousand twenty thousand so this business you don't have to be right one out two times you could be right one out of four it's a long time the times you're right you know the company's doing well you know they're doing a great job and you add to it or at least you don't sell it which is a terrible tragedy so you can make more money on the upside so i just i just rolled those out and i will now flip a coin to tell you where the market will go to 4 000.
this year or next year october has always been a special month i remember in 1987 i was very uh you know i was very convinced that mark was a no it was not not in trouble and i didn't worry about things and karen and i had planned this great uh golf vacation to ireland and we're gonna visit one course and save a little house and visit another go along the west coast of ireland and play golf and we left on a thursday night and uh the market went down 55 points that day which was not too good and um the next day we got to ireland because the time difference we completed our day and i get back to hotel and i called in the market going down 112 on friday i said to carolyn uh you know i think if the if the mark goes down on monday uh you know we're gonna have to go back and uh and so we might as well we stayed there for the weekend and uh and on monday the market went down 580 points and my fund went from uh i think 12 billion to 8 billion and uh that gets your attention you know when uh two working days you know i said yeah the end of this week i'd be uh have no fun now there wasn't a lot i could do i mean here i was on monday because the market uh didn't open you know by 12 o'clock it was in ireland it was still uh seven o'clock in new york so we did spend that day and we uh we did we played around golf in the morning and we went somewhere and so watch the market uh deteriorate and uh and uh i did come back there wasn't nothing i could do i mean just nothing i do about it but i think my shareholders they call up and they said what's lynch doing they say well he's on the sixth hole and he's uh you know he's even par up to now but he's in a trap this could be you know this could be a triple bogey here this could be a could be a big inning and uh i don't i don't think that's exactly what they want to hear though so i could do something about this damn thing so i came back home and suffered with everybody else and and uh fortunately uh i was very consistent uh my uh the market went down when i ran magellan on 13 years the market went down nine times and every time the mark went down magellan went down i was nine for nine and uh you know because it's it's very it's very important it's another one of these numbers you gotta write down if you put a thousand dollars in a stock all you can lose is a thousand i've done that several times and uh but if you're right you can make five thousand ten thousand twenty thousand so in this business you don't have to be right one out two times you could be right one out of four it's a long time the times you're right you know the company's doing well you know they're doing a great job and you add to it or at least you don't sell it which is a terrible tragedy so you can make more money on the upside so i just i just roll those out and i'll now flip a coin to tell you where the market will go to 4 000.
this year or next year heads means it goes up is a two-headed coin the market will go up in the next year that's it that's all i ever know about you
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