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Peter Lynch’s Magellan Fund delivered an average annual return of 29% over 12 years. However, the average investor in the fund made only 7%, according to George Noble. Noble attributed this difference to investors buying after gains and selling after declines, suggesting that the fund’s performance itself was not to blame.
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Noble has previously commented on company performance, saying he advised selling OPEN at 8 a year ago and noted the reactions he received at that time in a prior statement. He also highlighted that the energy sector is projected to contribute 20% of total S&P 500 shareholder payouts despite its relatively small index weight, according to a recent note. These remarks add to Noble’s observations on investor behavior and sector developments.