- Prominent investor Peter Lynch clarifies he does not possess any cryptocurrency.
- He is adhering to his ‘buy what you know’ investment approach.
- Lynch expresses regret for not investing in Apple and Nvidia in recent years.
Bitcoin has significantly outshone equities since the start of 2021 but notable investor Peter Lynch maintains his preference for the latter.
Lynch does not own any cryptocurrency
On Tuesday, the Vice Chairman of Fidelity Management & Research made it clear that he is not invested in cryptocurrencies.
It’s worth noting that Lynch is familiar with the technology that drives the crypto space. Nevertheless, he said today on CNBC’s “Squawk Box”:
I am aware of blockchain. I know how it works. But the future of bitcoin is unclear to me. I do not possess any bitcoin or ether coin.
Lynch is keeping away from BTC even though he knows the maximum supply of it will be cut in half next year – a development that typically results in a higher price.
Lynch is sticking to ‘buy what you know’
Bitcoin has now dropped back to the $27,000 level but is still holding above a crucial support suggesting the bullish sentiment is still present.
For many years, Fidelity’s Peter Lynch has proposed that investors “buy what they know” – and to him, that means stocks. Explaining how to pick stocks and when to exit them, he said:
Look at the company, the balance sheet. What’s the reason stock should be higher? When companies go from weak to semi-weak to strong, stock goes up. When business gets excellent, get out.
Lynch expressed regret today for not investing in a number of large-cap tech companies in recent years, particularly Apple Inc and Nvidia Corporation.
