Peter Lynch (born January 19, 1944)[1] is an American investor, mutual fund manager, and philanthropist. As the manager of the Magellan Fund[2] at Fidelity Investments between 1977 and 1990, Lynch averaged a 29.2% annual return,[3]consistently more than doubling the S&P 500 market index and making it the best performing mutual fund in the world.[4][5]During his tenure, assets under management increased from $18 million to $14 billion.[6]
He also co-authored a number of books and papers on investing and coined a number of well known mantras of modern individual investing strategies, such as Invest in what you know and ten bagger. Lynch is consistently described as a "legend" by the financial media for his performance record,[6][7] and was called "legendary" by Jason Zweig in his 2003 update of Benjamin Graham's book, The Intelligent Investor.[4]
Early life and education[edit]
Peter Lynch was born on January 19, 1944 in Newton, Massachusetts.[1] In 1951, when Lynch was seven, his father was diagnosed with cancer. He died three years later, and Lynch's mother had to work to support the family. During Lynch's time as a sophomore at Boston College, he used his savings to buy 100 shares of Flying Tiger Airlines at $8 USD per share. The stock would later rise to $80 per share.[8]
In 1965, Lynch graduated from Boston College where he studied history, psychology and philosophy, and earned a Master of Business Administration from the Wharton School of the University of Pennsylvania in 1968
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