Peter Lynch
Born 1944 · Age 81
American investor, mutual fund manager, author and philanthropist; longtime manager of Fidelity's Magellan Fund (1977–1990) and author of One Up on Wall Street.
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Life & Career Timeline
Father diagnosed with brain cancer
When Lynch was seven, his father was diagnosed with brain cancer; family circumstances changed and his mother entered the workforce.
Father died
Lynch's father died three years after diagnosis; Lynch's mother supported the family thereafter.
Began working as a caddie
From his early teens Lynch worked as a caddie to help support the family and gained exposure to business and investing conversations.
Bought Flying Tiger shares as a Boston College sophomore
As a sophomore Lynch used savings to buy 100 shares of Flying Tiger Airlines at ~$7/share which later rose to ~$80/share; the profit helped pay for his education.
Graduated Boston College (BA)
Graduated from Boston College; studied history, psychology, and philosophy.
Hired as Fidelity intern
Hired as an intern at Fidelity Investments (partly because he had caddied for Fidelity's president). Began covering paper, chemical, and publishing industries.
Earned MBA from Wharton
Completed Master of Business Administration at The Wharton School, University of Pennsylvania.
Married Carolyn Ann Hoff
Peter Lynch married Carolyn Ann Hoff (they later co-founded the Lynch Foundation and had three daughters).
Two-year Army service / ROTC period began
Served a two-year Army/ROTC period (sources indicate service/ROTC activity around 1968–1970).
Hired permanently at Fidelity
After returning from military service Lynch was hired permanently at Fidelity and assigned to follow textiles, metals, mining, and chemicals.
Named Fidelity's Director of Research
Promoted to director of research at Fidelity (held this role 1974–1977).
Appointed manager of the Fidelity Magellan Fund
Named head of the then-obscure Magellan Fund, which had approximately US$18 million in assets at the time.
Popularized 'buy what you know' philosophy (early promotion)
Early in his Magellan tenure Lynch emphasized bottom-up stock picking and the idea that individual investors can leverage 'local knowledge'.
Promoted GARP/PEG valuation approaches
During the Magellan era Lynch popularized concepts now associated with GARP and is widely credited with promoting the PEG ratio as a valuation tool.
Notable consumer stock picks discovered outside the office
Used everyday observations (e.g., Dunkin' Donuts being busy) to find investments—illustrated in his later writings; example investments made while managing Magellan.
Co-founded the Lynch Foundation
Peter and Carolyn Lynch established the Lynch Foundation to support education, Catholic missions, cultural preservation and health causes.
Published 'One Up On Wall Street'
One Up On Wall Street published (Simon & Schuster). The book popularized mantras like 'invest in what you know' and the phrase 'ten bagger.' It sold over one million copies.
Coined/popularized 'ten bagger' term
The term 'ten bagger' (an investment that increases tenfold) was popularized in One Up On Wall Street.
Stepped down as manager of the Magellan Fund
Resigned as Magellan fund manager after a 13-year tenure (1977–1990).
Magellan Fund performance and scale at conclusion of tenure
During Lynch's tenure Magellan averaged a ~29.2% annual return and AUM grew from US$18 million to roughly US$14 billion with more than 1,000 individual stock positions.
Magellan averaged 29.2% annual return (1977–1990)
Magellan Fund averaged approximately 29.2% annualized returns over Lynch's 13-year management period.
Top Magellan fund profitable stock picks (cumulative gains noted)
Among Lynch's most profitable Magellan picks were Fannie Mae (~$500M profit), Ford (~$199M), Philip Morris (~$111M), MCI (~$92M), Volvo (~$79M), GE (~$76M), General Public Utilities (~$69M), Student Loan Marketing (~$65M), Kemper (~$63M), Lowe's (~$54M). These are reported cumulative profits during his management.
Inducted into Junior Achievement U.S. Business Hall of Fame
Lynch was inducted into the Junior Achievement U.S. Business Hall of Fame.
Joined Fidelity coaching/mentoring staff; vice-chairman role
Reportedly joined Fidelity's coaching staff and served as vice chairman of Fidelity Management & Research, mentoring young analysts and working part-time after stepping down as manager.
Received Seton Award (National Catholic Education Association)
Awarded the 1992 Seton Award by the National Catholic Education Association.
Published 'Beating the Street' (first editions/coverage in early 1990s)
Beating the Street (with John Rothchild) published early 1990s; revised edition cited in 1994. The book applies Lynch's investing methods to real stock selections.
Published 'Learn to Earn' (co-authored)
Co-wrote Learn to Earn (aimed at beginning teenage investors) with John Rothchild, extending investment education to younger readers.
Gave US$10 million to Boston College
Peter and Carolyn Lynch donated $10 million to Boston College; the college named the Lynch School of Education and Human Development in their honor.
Magellan cited as best 20-year mutual fund return (as of 2003)
As of 2003, Magellan had the best 20-year return of any mutual fund on record (attributable largely to Lynch's performance).
Named one of the 50 Wealthiest Bostonians (Boston Magazine)
Boston Magazine listed Lynch 40th among the 50 wealthiest Bostonians with an estimated net worth of $352 million USD.
Lynch Foundation donated $20M to create Lynch Leadership Academy
The Lynch Foundation gifted $20 million to Boston College to establish the Lynch Leadership Academy (a research and training program for school principals).
Lynch Foundation grants and giving noted
The Lynch Foundation (valued in reports at around $125M) gave away about $8M in 2013 and the foundation had made roughly $80M in grants since inception (figures reported by various sources).
Death of Carolyn Lynch (wife and co-founder of the Lynch Foundation)
Carolyn Ann Hoff Lynch died in October 2015 due to complications of leukemia at age 69.
Next generation involvement at Lynch Foundation reported
Media reported a next generation stepping into roles at the Lynch Foundation and continued philanthropic activity (Boston Globe coverage).
Listed as member of Harvard Medical School Board of Fellows (public record)
Lynch is listed as a member of the Board of Fellows at Harvard Medical School (public biographies note his membership; exact start date unspecified).
Gifted art and cash to Boston College (major donation)
From his and his late wife's private collection Lynch gifted more than $20M in art to Boston College's McMullen Museum of Art and made a $5M grant (reported in 2021).
Publicly expressed investment regrets (Apple, Nvidia)
In interviews/public comments Lynch said he regretted not buying Apple and not investing in Nvidia—public reflections on missed opportunities.
Legacy: 'One in 100 Americans' participated in Magellan at its peak
Sources note approximately 1% of Americans had participated in the Magellan Fund when Lynch ran it—an indicator of its popularity and influence.
Recognized in investment retrospectives
Articles and retrospectives continue to describe Lynch as a 'legend' in investment media and reiterate his Magellan performance and investment mantras.
Key Achievement Ages
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