If there is one legendary investor who not just beat the market but destroyed it, it is Peter Lynch.
Lynch ran Fidelity’s Magellan Fund in the US for 13 years, from 1977 to 1990. During this period, he beat the US stock market index S&P 500 in 11 years. His average annual return during this period stood at a mind-boggling 29%.
It means that every US$ 1 invested in his fund in 1977 grew to more than US$ 27 by 1990.
Fortunately for us, Lynch has laid down his secrets in two great books that every investor must own and read several times – One Up on Wall Street, and Beating the Street.