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RWH017: Fidelity Legend Joel Tillinghast
We Study Billionaires - The Investor’s Podcast Network
Adaptive Management - Is That the Secret Sauce of the Fund?
I'm looking for what I think Will is looking for, which is adaptive companies that have a strong hand to start with. Nobody knows the future, but some companies are more adaptive than others. Most a UK retailer, the fund holds used to be mostly high street stores with a catalog business and they could have completely lost their position during the internet age. And now it's the majority of profits and is growing well. So there's a good adaptation. I think you always want an adaptive management team. That's part of the secret sauce of why Will spent so much time on meeting management and understanding their thinking.
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