We Study Billionaires - The Investor’s Podcast Network RWH017: Fidelity Legend Joel Tillinghast
13 snips
Nov 27, 2022 Joel Tillinghast, a legendary Fidelity fund manager, shares his journey from an eight-year-old investment enthusiast to a market-beating powerhouse. He discusses the significance of not overpaying for stocks, his admiration for Cathie Wood, and the lessons learned from a significant financial misstep. Tillinghast reflects on investing in 'adaptive companies' and his approach to diversification, revealing a staggering success with Monster Beverage. He emphasizes the importance of self-awareness in investing and offers insights for the next generation of fund managers.
AI Snips
Chapters
Books
Transcript
Episode notes
First Investment
- Joel Tillinghast's first investment was Beckman Instruments, inspired by his biologist father's work.
- Despite initial disappointment, he held it for 54 years, earning substantial dividends, illustrating his patience.
Valuation Matters
- Overpaying for a great company is a mistake, as market conditions and company performance can change.
- Excellent companies require reasonable valuations for successful investments.
Stocks Follow Earnings
- Stocks generally follow earnings over the long term.
- Investors should focus on companies with strong long-term earnings growth potential.
