Definition: Peter Lynch was the fund manager for the Fidelity Magellan fund from 1978 until 1990. During that time, he achieved an annual return of 29% per year.
More Details: Peter Lynch was a great mutual fund manager while at the helm of the Magellan fund. He also went on to author a number of books, such as Beating the Street, Learn to Earn, and One Up on Wall Street. He is especially famous for his "invest in what you know" strategy that encourages investors to buy stocks in the companies they know about.