Biography

Peter Lynch managed the Fidelity Magellan Fund from 1977 to 1990, achieving an average annual return of 29.2%—the best record for any mutual fund manager in history. He became famous for his approachable style and his belief that individual investors can beat professionals by using what they already know.

Investment Philosophy

Lynch coined the phrase "Invest in what you know." He categorized stocks into six types: Fast Growers, Stalwarts, Slow Growers, Cyclicals, Asset Plays, and Turnarounds. He looked for "ten-baggers"—stocks that go up ten times in value—and emphasized doing local research by observing products and trends in everyday life.

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