The LSE Directory / Hedge fund managers
Peter Lynch (born 1944) managed the Fidelity Magellan Fund from 1977 to 1990, growing it from $18 million to $14 billion in assets and achieving an average annual return of approximately 29.2%, making it the best-performing mutual fund in the world during that period and beating the S&P 500 in 11 of his 13 years. He retired at age 46, citing a desire to spend more time with his family. Lynch popularised the investment philosophy of 'invest in what you know', the idea that ordinary consumers can identify great growth companies by observing products and services in everyday life before Wall Street analysts catch on. He is the author of three influential books: 'One Up on Wall Street' (1989), 'Beating the Street' (1993), and 'Learn to Earn' (1995, aimed at young investors). Lynch's approach is characterised by thorough company research, direct contact with management, the concept of 'tenbaggers' (stocks that increase tenfold), and a strong preference for understanding what a company actually does before investing. Although technically a mutual fund manager rather than a hedge fund manager, Lynch is universally regarded as one of the greatest investors of the 20th century.
