Peter Lynch: You Only Know It’s a Great Company Afterwards

Of the greatest investors of all time, Peter Lynch stand out as an asset manager. Where are the well-known investors have made fortunes by investing irregularly waiting for the perfect pitch during his tenure at the Fidelity Magellan Fund, Lynch turned over thousands of rocks and invested in thousands of businesses. The Magellan Fund had more than 1,000 positions by the time he retired.

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His work rate was really outstanding. Lynch was able to review and invest in all of these companies without impact in his performance. He managed to smash the market over his career. During his remarkable 13-year run, Lynch produced an annualized rate of return of 29.2%, beating the market at large by 13.4% per year annualized. This return made the fund the most successful mutual fund in the world between 1997 and 1990. It is no surprise that during this period the fund’s assets from $20 million to $14 billion.