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Neither growth nor reasonable price

Peter Lynch's key to success in stocks no longer works as the P/E-to-growth gap is currently the widest since at least 1995

Monetary stimulus from central banks has bolstered risky assets including stocks as the S&P 500 rose 212 per cent since 2009.

New York

FOR Peter Lynch, the legendary Fidelity Investments fund manager who returned almost 30 per cent a year in the 1980s, the key to success in stocks was buying growth at a reasonable price. Right now, you can't find much of either.

A look at the Standard & Poor's 500...

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