IN THIS EPISODE, YOU’LL LEARN:
- 03:07 - How Joel Tillinghast fell in love with investing as a boy of eight or nine.
- 07:51 - What he learned from his first investment, which he’s (so far) held for 54 years.
- 09:12 - Why it’s critical not to overpay, even when you’re investing in a superb business.
- 11:04 - How his approach differs from the strategy of another Fidelity legend, Will Danoff.
- 14:55 - What Joel admires about Cathie Wood.
- 19:20 - What he learned from a disastrous macroeconomic bet using borrowed money.
- 33:36 - Why it’s important to invest in “adaptive companies.”
- 34:50 - How he was hired at Fidelity after cold calling Peter Lynch.
- 39:56 - How young people can break into the investment business at a firm like Fidelity.
- 44:59 - What qualities made Peter Lynch a wildly successful stock picker.
- 53:38 - Why Joel avoids biotech stocks.
- 54:25 - Why it’s critical to know yourself & stick to games where you truly have an edge.
- 56:47 - How he thinks about diversification & why he owns a huge number of stocks.
- 1:11:07 - How he made more than 1,000 times his money investing in Monster Beverage.
- 1:10:08 - How emotional exhaustion led him to announce his retirement next year.
- 1:23:12 - How he was affected by a terrifying experience of an earthquake in Japan.
- 1:27:21 - How to handle adversity by letting go of what we can’t control.
- 1:29:26 - What he’s trying to teach Fidelity’s next generation of fund managers.
- 1:32:27 - What gives Joel satisfaction as he looks back on his extraordinary career.
- 1:35:24 - What he learned from his beloved father.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Joel Tillinghast’s Fidelity Low-Priced Stock Fund .
- Joel’s book, Big Money Thinks Small: Biases, Blind Spots, & Smarter Investing .
- William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book .
- William Green’s Twitter .
NEW TO THE SHOW?
- Check out our We Study Billionaires Starter Packs .
- Browse through all our episodes (complete with transcripts) here .
- Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool .
- Enjoy exclusive perks from our favorite Apps and Services .
- Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
- Learn how to better start, manage, and grow your business with the best business podcasts .
P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!
SPONSORS
- Invest in high-quality, cash-flowing real estate without all of the hassle with Passive Investing .
- Private assets represent 98% of companies in North America but are absent in most portfolios. Reconstruct your portfolio with private markets with Mackenzie Investments .
- Have gold and silver shipped directly to your door for you to hold at your home. Get BullionMax ’s Gold Investor Kit today - 3 ounces of the world’s most desirable gold coins, including the Gold American Eagle and Canadian Maple Leaf.
- More wealth, more purpose, or making more of a difference? Commonwealth Private helps you create more of yours - with exceptional service and experts who meticulously tailor opportunities for you.
- Whether you’re exploring ways to manage volatility, seeking income and diversification opportunities, or looking for tax management strategies- Invesco has over 200 ETFs to help you meet your financial goals. Visit invesco.com for a prospectus with this information.
- Get position and investment info for nearly 6,000 Asset Management Companies with Moomoo , Australia’s first A.I. powered trading platform. Sign up and fund your moomoo account before October 31 and get $10 for every $100 you deposit. All investment carries risk. AFSL 224 663. T&Cs apply.
- Monitor your recovery, sleep, training, and health, with personalized recommendations and coaching feedback with WHOOP . Use code WSB to save 10% off your order today.
- Find an advisor who’s invested in you with iA Financial Services Inc .
- Start printing everything your small business needs and discover the endless printabilities with VistaPrint .
- If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital 's Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.
- When you want to be a better problem solver, therapy can get you there. Visit BetterHelp today to get 10% off your first month.
- If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds .
- Enjoy 10% off your first booking in Viator ’s world of over 300,000 experiences you’ll remember. Download the Viator app now and use code VIATOR10.
- Launch your thing into the spotlight and start selling anywhere with Shopify .
- Get personalized, expert advice that helps you see things clearly with ATB .
- Take a position daily on potential price movements, and gain exposure while limiting risk with Interactive Brokers .
- Ship with FedEx and be ready for this holiday season with picture proof of delivery.
- Support our free podcast by supporting our sponsors .
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Apple Podcasts ! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!
