Peter Lynch Biography
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Jim Cramer Biography
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Warren Buffett Biography
The president of Fidelity Investments is Peter Lynch, a man born in 1944 who has now gained fame as one of the best stock pickers worldwide. This stock broker did not start out as president of Fidelity, however was picked for an internship by its then president simply because he was a golf caddy for him. This connection allowed him to get his foot in the door at Fidelity Investments in 1969. However, Lynch left for two years with the Army and when he returned he was given a permanent position at the company. His job at Fidelity was to follow industries like metals, mining, chemicals, and the like. He stayed in this position until 1974 when he was named director of research.
Lynch was promoted once again in 1977. His new job was to head the Magellan Fund with $18 million in assets. He began managing this fund and it grew to unparalleled heights and reached return rates close to 30% annualized return. Lynch retired as a fund manager for Fidelity in 1990, however he still remained involved in the company considerably.
Today Lynch has written several books on investing, one theory , one application, and another for teenagers, to help everyday people learn how to invest. He coined the phrase “invest in what you know” and suggests people invest in stocks they know are good especially if they don’t have the time or knowledge to dedicate to stock research.
Lynch is now a huge philanthropist and he believes in investing by giving money to spread the things he believes in.