CHAPTER 6
Peter Lynch
Until his retirement in 1990, Peter Lynch was renowned as the best-performing fund manager. He achieved this status whilst acting as the portfolio manager of Fidelity’s Magellan Fund. During the years from 1977 to 1990, he achieved an annual rate of return of 29.2 per cent, turning a $1,000 investment 13 years later into $28,000. His fund performed consistently, beating the US stock market in all but two of his 13 years at the helm. The asset base grew from $18 million to $14,000 million, making it the largest in the world, and attracted over 1 million shareholders by the time he decided to quit. At the age of 46, he chose to spend more time with his wife and daughters and doing charitable work. (This is the same age ...
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