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That’s investing legend Peter Lynch, reminding investors in a CNBC interview Tuesday that chasing what’s hot might not be the best strategy. Lynch rose to fame as manager of Fidelity’s Magellan mutual fund from 1977 to 1990, a period that saw an annual average return of 29% for the fund, according to Barron’s, more than double the performance of the S&P 500 SPX over the same stretch. He popularized the phrase, “Invest in what you know.”
The problem for many investors, however, appears to be a lack of knowledge about what they’re…
