RWH017: Fidelity Legend Joel Tillinghast

<p><strong>IN THIS EPISODE, YOU’LL LEARN:</strong></p><ul><li>03:07 - How Joel Tillinghast fell in love with investing as a boy of eight or nine.</li><li>07:51 - What he learned from his first investment, which he’s (so far) held for 54 years.</li><li>09:12 - Why it’s critical not to overpay, even when you’re investing in a superb business.&nbsp;</li><li>11:04 - How his approach differs from the strategy of another Fidelity legend, Will Danoff.</li><li>14:55 - What Joel admires about Cathie Wood.</li><li>19:20 - What he learned from a disastrous macroeconomic bet using borrowed money.</li><li>33:36 - Why it’s important to invest in “adaptive companies.”</li><li>34:50 - How he was hired at Fidelity after cold calling Peter Lynch.</li><li>39:56 - How young people can break into the investment business at a firm like Fidelity.</li><li>44:59 - What qualities made Peter Lynch a wildly successful stock picker.</li><li>53:38 - Why Joel avoids biotech stocks.</li><li>54:25 - Why it’s critical to know yourself &amp; stick to games where you truly have an edge.</li><li>56:47 - How he thinks about diversification &amp; why he owns a huge number of stocks.</li><li>1:11:07 - How he made more than 1,000 times his money investing in Monster Beverage.</li><li>1:10:08 - How emotional exhaustion led him to announce his retirement next year.</li><li>1:23:12 - How he was affected by a terrifying experience of an earthquake in Japan.</li><li>1:27:21 - How to handle adversity by letting go of what we can’t control.</li><li>1:29:26 - What he’s trying to teach Fidelity’s next generation of fund managers.</li><li>1:32:27 - What gives Joel satisfaction as he looks back on his extraordinary career.</li><li>1:35:24 - What he learned from his beloved father.</li></ul><p><br></p><p><em>Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.</em></p><p><br></p><p><strong>BOOKS AND RESOURCES</strong></p><ul><li>Joel Tillinghast’s <a href="https://fundresearch.fidelity.com/mutual-funds/summary/3