Peter Lynch Beat the S&P 500 in 11 of His 13 Years Running Magellan. Here's Why He Says "Turning Over the Most Rocks" Is the Key to Winning.
The celebrated investor's core philosophy still holds up today.
Overview
Peter Lynch became one of Wall Street's top investors as the manager of Fidelity's Magellan Fund from 1977 to 1990. The fund delivered an average annual return of 29.2% during that period, beating the S&P 500 (SNPINDEX: ^GSPC) in 11 of those years and becoming the world's top-performing mutual fund. Under Lynch, its assets under management grew from $18 million to $14 billion.
As a proponent of value investing, Lynch often told investors to "invest in what they know" rather than chasing the hottest trends. He also said the person "that turns over the rocks wins the game." Let's see why that winning strategy still works in today's tumultuous market.
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Originally published at www.fool.com.