PL
Peter Lynch
10 quotesPeter Lynch • 1944 - Present
Fidelity Magellan Fund
Former Manager
Investment Philosophy
"Invest in what you know, find 'ten-baggers,' and do your homework"
Biography
Peter Lynch managed the Fidelity Magellan Fund from 1977 to 1990, during which time assets grew from $18 million to $14 billion. He achieved an average annual return of 29.2%, making Magellan the best-performing mutual fund in the world. Lynch popularized the idea of individual investors using their everyday knowledge to find investment opportunities, coining terms like 'ten-bagger' for stocks that increase tenfold.
Key Achievements
- •Achieved 29.2% average annual return over 13 years
- •Grew Magellan Fund from $18 million to $14 billion
- •Outperformed 99.5% of all mutual funds
- •Wrote bestselling investment books accessible to ordinary investors
Notable Books
- 📚One Up on Wall Street (1989)
- 📚Beating the Street (1993)
- 📚Learn to Earn (1995)
Known For
Invest in what you knowTen-baggersGARP (Growth at Reasonable Price)Stalwarts, fast growers, turnarounds
Quotes by Peter Lynch(10)
"Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves."
Category: Market Psychology
"Everyone has the brainpower to make money in stocks. Not everyone has the stomach."
Category: Market Psychology
"The key to making money in stocks is not to get scared out of them."
Category: Long-Term Thinking
"In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten."
Category: Risk Management
"Know what you own, and know why you own it."
Category: Company Research
"Go for a business that any idiot can run – because sooner or later, any idiot probably is going to run it."
Category: Company Research
"The person that turns over the most rocks wins the game."
Category: Company Research
"Behind every stock is a company. Find out what it's doing."
Category: Company Research
"Investing without research is like playing stud poker and never looking at the cards."
Category: Company Research
"If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes."
Category: Contrarian Wisdom