Employing an Investigative Journalist's Process within an Investment Firm with Tania Pouschine, Founder & Portfolio Manager of Fithian

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Feb 11, 2025

Tania Pouschine, Founder and Portfolio Manager of Fithian and a former investigative journalist, discusses her unique approach to investment based on journalistic principles. She shares the inspiration behind founding Fithian and highlights the significance of deep due diligence in identifying quality stocks. Tania also explores the strategic use of structured investment insights and collaborative environments within her firm. With real-world examples, she emphasizes risk management and navigating market anomalies to uncover investment opportunities.

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ANECDOTE

Fithian Founding

Tania Pouschine founded Fithian in 2016, blending her experience in banking, investigative journalism, and asset management.
Her background at Forbes and Ruane, Cunniff & Goldfarb shaped her unique investment process.

INSIGHT

Journalism to Investing

Investigative journalism taught Tania Pouschine the importance of primary sources, evaluating bias, and knowing when you have enough confirmation.
This approach helps discern valuable information from noise in the investment process.

ADVICE

Deep Due Diligence

Conduct thorough due diligence by interviewing customers, competitors, and former employees before talking to management.
This builds a comprehensive understanding of the business and its ecosystem.

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My guest on the show today is Tania Pouschine, the Founder and Portfolio Manager of Fithian. I reached out to Tania to have her on the podcast after I heard from an allocator friend that Fithian employed one of the most unique and differentiated investment processes in the public equity space. With that as the backdrop, I was excited to speak with Tania—who was formerly an investigative journalist—about:

The circumstances surrounding the founding of Fithian in 2016;
How being an investigative journalist informs her investment process;
Fithian's perspective on what performing deep due diligence on companies actually looks like;
The global long-only strategy Fithian runs for clients; and
The characteristics of a prototypical Fithian stock

For more information about Fithian, please visit: https://www.fithianllc.com/

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