(Fox) "The market's going to be a lot higher 10 years from now, 20 years from now, 30 years from now," Lynch told Jack Otter on "Barron's Roundtable", which airs on the FOX Business Network. He also noted that investors who try to forecast various scenarios for the markets usually end up missing the boat. "Trying to predict the market is really a waste," he cautioned.
Lynch's experience backs his views. He ran Magellan from 1977 until 1990 where he increased assets under management from $18 million to $14 billion.
History, according to Lynch, shows us that stocks have more upcycles. "Over the long term, the upside is more than the downside," he said advising individuals to understand and plan for various life cycles but invest for the long-term.
"You're going to say to yourself, do I need the money in the next month? Do I need the money in the next year? Do I have kids going to college, have a wedding coming up? Then, you're a bad investor," Lynch said. "If you keep putting money in ... you should do well."
Fidelity currently oversees $7.8 trillion in customer assets.
