Another one bites the dust-Magellan Has Lost Its Head

Recently I've been keeping myself updated with the performance of some major fund companies. Today's Forbes news shock me the most-How come Magellan has underperformed the market for more than a decade.

Here is some info about this most famous fund in the world, which I search from the internet.

Fidelity Magellan Fund (FMAGX)
Mutual Fund Profile

One of the most popular mutual funds, the Fidelity Magellan fund is the largest actively managed mutual fund and traded under the ticker symbol FMAGX. The fund started on May 2nd, 1963.

Current manager: Robert E. Stansky (since 6/96)
Fund Family: Fidelity
Minimum Investment: $2,500 (IRA Min.: $500)
Minimum Subsequent Investment: $2,500

Magellan Has Lost Its Head (from Forbes)
I like to add something about why Peter Lynch is an outstanding guru in investing business:
Lynch was fearless. When he liked savings and loans, he bought 25 of 'em. Lynch overweighted any sector that he believed was underpriced. The man traveled religiously, meeting managers and uncovering mid-cap and even small-cap properties with traits that turned him on: good management and a propriety product line in a growth industry.