Joel Tillinghast: The Art of Investing

<p>Our guest this week is Joel Tillinghast, portfolio manager at Fidelity. Joel manages a number of equity funds focused on intrinsic value and mostly small-cap stocks—perhaps most notably, the Low-Priced Stock Fund, which he has managed since 1989. Joel originally joined Fidelity as an equities analyst in 1986 after famously cold-calling Peter Lynch to secure a job interview. He earned his bachelor’s in economics from Wesleyan University and MBA from the Kellogg School of Management at Northwestern and is a CFA charter holder. Joel’s track record is simply impressive. Morningstar recognized him in 2021 as Outstanding Portfolio Manager and in 2002, as Domestic Stock Fund Manager of the Year. After more than 40 years in investing, Joel is slated to retire as a full-time portfolio manager at the end of 2023. We’re so excited to host him on the podcast today to discuss his career and his insights.</p><p>Background</p><p><a href="https://www.fidelity.ca/en/products/pm/jtillinghast/">Bio</a></p><p><a href="https://www.morningstar.com/funds/xnas/flpsx/quote">Fidelity Low-Priced Stock</a></p><p><a href="https://www.fidelity.ca/en/products/funds/ugq/">Fidelity Global Growth and Value Class</a></p><p><a href="https://www.fidelity.ca/en/products/funds/uge/">Fidelity Global Intrinsic Value Class</a></p><p><a href="https://www.fidelity.ca/en/products/funds/gs/">Fidelity NorthStar® Fund</a></p><p><a href="https://www.amazon.com/Big-Money-Thinks-Small-Publishing/dp/023117571X/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=&sr="><i>Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing</i></a>, by Joel Tillinghast</p><p>Value and Small-Cap Investing</p><p>“<a href="https://economictimes.indiatimes.com/markets/stocks/news/dont-judge-a-stock-by-its-price-thats-one-of-tillinghasts-stock-picking-secrets/articleshow/82115552.cms?from=mdr">Don’t Judge a Stock by Its Price! That’s one of Tillinghast’s Stock-Picking Secrets</a>,” by Anupam Nagar, <a href="http://economictimes.indiantimes.com/" target="_blank">economictimes.indiant