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Peter Lynch a stock investor and American Businessman, was born on January 19, 1944. In 1951, Lynch’s father died because of cancer and he was just ten years old. He was at Boston College, when he used his savings to buys 100 shares of Flying Tiger Airlines at $8 per share and which later rose to $80 per share.
Peter Lynch completed his graduation from Boston College in 1965, where he studied History, psychology, and philosophy. He joined Wharton school and completed his Masters of Business Administration (MBA) in 1968. He was hired as an intern with Fidelity Investment and was hired permanently in 1969. He worked as Fidelity’s director of research from 1974 to 1977.
Peter Lynch was named as head of Magellan Fund in 1977, which had 18 millions in asset management. In 1990, he resigned; the fund had grown more than $14 billion in assets. The Magellan Fund averaged 29.2%return from 1977 to 1990.
The basic principle of peter lynch for investment is to make an investment in what you know. Lynch shared with audience in investor’s conference in New York in 2005:
He gives regular guidance to the young analyst and likes to spend more time with them. Though he continues as part time Vice-President of Fidelity Management & co., and investment advisor of Fidelity Investments.
The Lynch foundation supports many cultural, medical, historical organizations. Valuation of the lynch foundation is at $125 million and gave $8 million in 2003.