When Peter Lynch took over the Fidelity Magellan Fund in 1977, it was an obscure fund holding $18 million in assets. By the time he stepped down in 1990, Magellan managed over $14 billion. Over those 13 years, Lynch generated an average annualized return of more than 29%, nearly double the S&P 500 performance over the same period, cementing his status as one of Wall Street's most legendary stock pickers.
Peter Lynch is known for his invaluable stock market lessons. The market expert who built one of the best track records in mutual fund history during his stint as Fidelity Magellan fund manager, wrote the popular book ‘One Up on Wall Street’.
