Peter Lynch built his reputation running Fidelity's Magellan Fund from 1977 to 1990, a stretch during which the fund grew into one of the most successful in mutual fund history, posting an average annual return that far outpaced the broader market during his tenure. After stepping back from day to day fund management, he stayed on at Fidelity in an advisory role and turned to writing, sharing his investment philosophy in books including this one, along with Beating the Street" and "Learn to Earn." Lynch is closely associated with the idea of investing in businesses you personally understand, a principle that runs through everything he's written and that continues to shape how everyday investors think about picking stocks decades after he stepped away from managing money full time.
