Algy's Investment Podcast Anthony Bolton - Value Investing
Oct 2, 2023
In this engaging discussion, Anthony Bolton shares his remarkable journey as a fund manager at Fidelity, where he achieved a 19.5% compounded return over 28 years. He delves into the principles of value investing and shares insights on emotional stability and adaptability needed for contrarian investing. Bolton emphasizes the significance of long-term market analysis and the impact of diverse broker insights. He also navigates the complexities of investment decisions, offering personal anecdotes and exploring the challenges of the Chinese market.
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Stock Market Exaggerates Value
- The stock market exaggerates company profitability and outlook, creating investment fashions and sentiments.
- Anthony Bolton focused on betting against market extremes, buying when depressed and avoiding popular stocks.
Maintain Flexible Conviction
- Be unemotional and maintain a flexible conviction when investing.
- Keep an open mind and be willing to change your view as circumstances evolve.
Active Management Cycles Matter
- Understand your strengths and weaknesses to outperform the market.
- Active management cyclical; currently, the environment favors active over passive investing.
