Peter Lynch is one of the most successful investors of all time. He managed the Fidelity Magellan Fund from 1977 to 1990, returning an average of 29% per year, beating the S&P 500 — Peter Lynch believed that it was important to focus on fundamentals rather than hype. Lynch favored stocks that were underappreciated, with a low percentage of shares held by institutions, low analyst coverage, and active insider buying. If the company was buying back shares, it also signaled a promising investment.