in october 1987 peter lynch was in ireland playing golf when his fund went from $12 billion to $8 billion. he'd left on a thursday night. the market fell 55 points that day. friday it fell 112, and because of the time difference he only found out after his round. "i said to carolyn , if the market goes down on monday, we're going to have to go back." monday it fell 500 points. "and that gets your attention. in one or two working days, i said, by the end of this week i'd have no fund." "there wasn't a lot i could do. because of the time difference, by twelve o'clock in ireland it was still seven o'clock in new york. so we played a round of golf in the morning." "i think my shareholders called up and said, what's lynch doing? and they said, well, he's on the sixth hole. he's even par so far, but he's in a trap, this could be a triple bogey." "i don't think that's exactly what they wanted to hear." he came back and, in his words, suffered with everybody else. the closing detail is the one worth keeping. over his thirteen years at magellan the market fell nine times, and magellan fell all nine.