Hunting for 'multi-baggers' in the Singapore market
Active management and a willingness to take risks with smaller stocks easily trump the Straits Times Index's dull returns
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AMONG the first few books I ever read on investing were Peter Lynch's One Up On Wall Street and Beating The Street - which got me excited about "multi-bagger" stocks.
Lynch coined the term to refer to stocks that appreciate by a multiple of their initial value. So, a stock that trebles in value is a 3-bagger, and a stock that quadruples is a 4-bagger.
Then, there were the vaunted 10-bagger stocks. During the 13 years Lynch ran the Fidelity Magellan Fund - from 1977 to 1990 - he is said to have invested in several stocks that delivered 10-fold gains.
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