Finance
Ran Fidelity Magellan to 29% annual returns
Peter Lynch transformed the Magellan Fund into a multi-billion dollar juggernaut, achieving legendary returns by empowering everyday investors.
“Invest in what you know.”
10 Courses · 60 Lessons · 8 Hours
Biography
Growing up near Boston, his father died when he was ten, and he began working as a caddie at a golf club, where he overheard executives discussing stocks. With that money, he bought his first stock, Flying Tiger Airlines, which multiplied tenfold and funded his education.
He joined Fidelity as an intern in 1966 thanks to a golf course contact, became an analyst, and in 1977 was given a small, neglected fund: Magellan, with $18 million under management.
In thirteen years, he grew Magellan to $14 billion with an average annual return of approximately 29%, the best track record in mutual fund history. He held over 1,400 stocks, visited hundreds of companies each year, and found his best ideas in stores, restaurants, and the products his family used daily.
“Invest in what you know”: understand the business before the balance sheet, classify stocks by type (slow grower, stalwart, fast grower, cyclical, turnaround, asset play), and seek out “tenbaggers” where Wall Street isn't yet looking. He distrusted macro predictions and emphasized on-the-ground research.
In 1990, at 46, he retired at his peak to spend time with his family. He wrote “One Up on Wall Street” and “Beating the Street” and dedicated himself to philanthropy. His legacy is having demonstrated that the average investor has an advantage, if they choose to use it.
His library
10 Courses · 60 Lessons · 8 Hours. Select a course to see every lesson inside it.
New to Peter? Start here
Discover how your personal experiences can uncover exceptional investment opportunities.
Beginner
6 lessons
Why Professional Advice Can Be a Disadvantage
8 min readThe Grocery Aisle Advantage: Finding Gems in Plain Sight
8 min readThe 'Know What You Own' Mandate
8 min readSpotting Multi-baggers Before Wall Street Does
8 min readThe Power of Common Sense Over Complex Models
8 min readBuilding Your Personal Investment Checklist
8 min readTiptico courses are independent educational analyses based on publicly available information, writings, interviews, speeches and documented decisions. The individuals featured are not instructors, employees, partners, sponsors or endorsers of Tiptico unless explicitly stated.
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