Behind the Balance Sheet #41 The Composer
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Nov 22, 2024 Anthony Bolton, a highly respected investor known for his exceptional returns with the Fidelity Special Situations fund, shares insights from his rich career and his transition into a composer. He discusses the nuances that separate the best fund managers from the rest, emphasizing flexibility and contrarian investing. Bolton tackles the importance of humility and self-awareness in the face of market overconfidence, exploring the psychological aspects of investment decisions, and shares personal anecdotes about navigating the finance industry and its challenges.
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Avoiding Mistakes
- Focus on avoiding mistakes to excel as a fund manager.
- All managers achieve successes, but minimizing errors sets top performers apart.
Characteristics of Top Investors
- The key to successful investing lies in flexibility, being unemotional, and avoiding arrogance.
- Conviction is crucial, but it should adapt as new information emerges.
Contrarian Investing
- Contrarian investing involves going against popular trends and finding opportunities in unpopular areas.
- Popularity equates to risk; unpopularity signifies opportunity.
