Peter Lynch's National Business Hall Of Fame Speech | 1991 | Summary and Q&A

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December 2, 2020
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Peter Lynch's National Business Hall Of Fame Speech | 1991

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Summary

In this video, the speaker discusses the importance of Junior Achievement, expresses gratitude to the Walt Disney Company and Fortune magazine, and shares personal experiences and lessons learned throughout his life. He highlights the significance of hard work, values learned from caddying, and the opportunities he had at Fidelity Investments. The speaker also expresses gratitude for his wife and family, and concludes by accepting the Hall of Fame award on behalf of himself and his associates at Fidelity Investments.

Questions & Answers

Q: What is the significance of Junior Achievement?

Junior Achievement is an important organization in the speaker's region, with over 15,000 students benefiting from their programs in eastern Massachusetts and New Hampshire. The organization has experienced significant growth in the last three years and has successfully initiated new programs. This kind of success story is a national resource for educating youth, and its growth potential for the next few years is outstanding.

Q: Who does the speaker express gratitude towards?

The speaker expresses gratitude to the Walt Disney Company and Michael Eisner for their support in sponsoring the event. He considers the Walt Disney Company to be a truly great American company and acknowledges the profits it has delivered to shareholders of Fidelity Magellan. Additionally, the speaker thanks the staff of Fortune magazine for including his name in the list of Hall of Fame individuals, many of whom are his personal heroes and role models.

Q: What personal experiences does the speaker share?

The speaker reflects on his childhood and the blessings he received from his mother and family, despite facing hardships like his father's illness and the financial struggles that followed. He then discusses his experiences as a caddy at the Braver and Country Club, which taught him the values of hard work, enthusiasm, patience, honesty, consistency, and being a good listener. The speaker also mentions the impact of interacting with successful professionals and how it influenced his professional journey.

Q: How did caddying help the speaker academically?

Caddying not only provided the speaker with some financial support for his family, but it also helped him earn a scholarship to Francis Weem Academy, which paid for 30 percent of his tuition each year at Boston College. The speaker believes that the greatest importance of caddying, similar to the impact of Junior Achievement, is the invaluable life lessons it instilled, such as hard work and consistency.

Q: How did the speaker start his career?

When the speaker applied for a summer job at Fidelity in 1966, he was one of 75 candidates competing for three positions. However, he stood out as the only candidate who had caddied for the company's president for the previous nine years. Surprisingly, he secured the job and it turned out to be the only interview he ever took in his life, as Fidelity became the only company he worked for.

Q: What does the speaker say about working at Fidelity Investments?

The speaker describes working at Fidelity as a great opportunity. He found the company to be exciting, challenging, and filled with nice people. It was a significant milestone in his professional journey and played a crucial role in his record of managing the savings of over a million families. He expresses gratitude for the opportunity and acknowledges the key associates from Fidelity who are present at the event.

Q: Who does the speaker express gratitude towards in his personal life?

The speaker considers finding his wife Carolyn during his graduate school years at Wharton to be his greatest fortune in life. He expresses gratitude for her constant and able support throughout the years, despite the pressures of his work, long hours, and complaints about various business challenges. The speaker also acknowledges his three daughters, two of whom are present at the event, and expresses pride in having them and his wife in the audience.

Q: What does the Hall of Fame award mean to the speaker?

The Hall of Fame award is the greatest honor of the speaker's life. He accepts it not only on his behalf but also on behalf of his wife Carolyn and his associates and friends at Fidelity Investments who made his record possible and probable. This recognition fills the speaker with immense happiness and gratitude.

Takeaways

The speaker emphasizes the importance of Junior Achievement in educating youth and praises its growth potential. He expresses gratitude towards the Walt Disney Company and Fortune magazine for their support and recognition. The speaker shares personal experiences, including the impact of caddying and the valuable life lessons it taught him. He recounts his successful career at Fidelity Investments and expresses gratitude for his wife's support. Ultimately, receiving the Hall of Fame award is a significant moment in the speaker's life, and he acknowledges the contributions of his associates and friends at Fidelity who made his success possible.

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