Peter Lynch: Blend of Investment Genius and Philanthropy

Peter Lynch rose to popularity in the investments and business world when he worked for the Magellan Fund through Fidelity Investments. When he started his work at the Magellan Fund, the funds were reported at $18 million. In 13 years, the fund grew to $14 billion. He wrote about his investment policies and strategies and his publications are read worldwide. Lynch believes he has reached the peak of his career and has shifted his focus on philanthropic and charitable works.

Lynch was born in Newton, Massachusetts on January 19, 1944. He studied finance at Boston College. His first job was with the Fidelity Investments in 1965 as an intern. His assignment as an intern was to be Fidelity president’s caddy. They became friends.

Lynch served for two years in the army. After his tour of duty, Fidelity hired him for a fulltime work with the company’s investments in mining, textiles, metals and chemicals. His potential shone while working as investments in-charge. In five years, he was named Director of Research in 1975. He was named head of the Magellan Fund three years after that. During his thirteen-year tenure, the Magellan Fund experienced phenomenal growth.

Because of his success in investments, Lynch published books on the subject of investments. His publications included Beating the Street, Learn to Earn, and One Up on Wall Street. The books were co-authored by John Rothchild.

Peter is not known for just one specific style. Instead, Lynch changes his investment strategies as market conditions change. He calls this strategy the “chameleon” approach. Lynch admits that though there is not one specific style he sticks to, he believes on the effectiveness of the core investment principles. According to him, it is a useless effort to try to predict interest rates and investment fluctuations because no one can exactly predict what will happen. As an alternative, Lynch advocates that investors should research and take the time to identify the great companies in which to place investments.

Lynch is the vice chairman of Fidelity Management & Research. When he is not at work, he spends time in philanthropic and charitable endeavors. He established the Fidelity Charitable Gift Fund and the Lynch Foundation in support of cultural and historical institutions, religious organizations, medicine and education.