Crypto vs stocks: legendary investor Peter Lynch takes a side
- Peter Lynch reveals that he does not own any cryptocurrency.
- He’s sticking to his ‘buy what you know’ investment strategy.
- Lynch regrets not investing in Apple and Nvidia in recent years.
Bitcoin has massively outperformed equities since the start of this year but legendary investor Peter Lynch continues to prefer the latter.
Lynch does not own any cryptocurrency
On Tuesday, the Vice Chairman of Fidelity Management & Research confirmed that he’s not exposed to cryptocurrencies.
Interestingly, Lynch is familiar with the technology that powers the crypto space. Still, he said today on CNBC’s “Squawk Box”:
I do understand blockchain. I know how it works. But what bitcoin is going to be, I have no idea. I don’t own any bitcoin or ether coin.
Lynch is keeping away from BTC even though he knows the total supply of it will be cut in half next year – an event that usually translates to higher price.
Lynch is sticking to ‘buy what you know’
Bitcoin has now slipped back to the $27,000 level but is still keeping above a key support suggesting the bullish sentiment is still there.
But for years, Fidelity’s Peter Lynch has recommended that investors “buy what they know” – and to him, that means stocks. Explaining how to pick stocks and when to pull out of them, he said:
Look at the company, the balance sheet. What’s the reason stock should be higher? When companies go from crappy to semi-crappy to good, stock goes up. When business gets terrific, 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.
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