Big Money w/ Fidelity Superstar Joel Tillinghast (RWH017)

William Green chats with Joel Tillinghast, an investment superstar who manages about $70 billion at Fidelity. Peter Lynch has described him as “one of the greatest, most successful stock pickers of all time.” In this rare, in-depth interview, Joel shares invaluable lessons from a dazzling career in which he’s beaten the market by a stunning 3.7 percentage points a year since 1989.
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:00:40 - How Joel Tillinghast fell in love with investing as a boy of eight or nine.
00:05:55 - What he learned from his first investment, which he’s (so far) held for 54 years.
00:07:16 - Why it’s critical not to overpay, even when you’re investing in a superb business.
00:09:15 - How his approach differs from the strategy of another Fidelity legend, Will Danoff.
00:13:50 - What Joel admires about Cathie Wood.
00:18:56 - What he learned from a disastrous macroeconomic bet using borrowed money.
00:29:56 - Why it’s important to invest in “adaptive companies.”
00:31:20 - How he was hired at Fidelity after cold calling Peter Lynch.
00:37:04 - How young people can break into the investment business at a firm like Fidelity.
00:42:46 - What qualities made Peter Lynch a wildly successful stock picker.
00:53:07 - Why Joel avoids biotech stocks.
00:53:39 - Why it’s critical to know yourself & stick to games where you truly have an edge.
00:56:11 - How he thinks about diversification & why he owns a huge number of stocks.
01:08:05 - How he made more than 1,000 times his money investing in Monster Beverage.
01:15:56 - How emotional exhaustion led him to announce his retirement next year.
01:21:49 - How he was affected by a terrifying experience of an earthquake in Japan.
01:26:39 - How to handle adversity by letting go of what we can’t control.
01:28:50 - What he’s trying to teach Fidelity’s next generation of fund managers.
01:32:24 - What gives Joel satisfaction as he looks back on his extraordinary career.
01:35:45 - What he learned from his beloved father.
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▶️ RELATED EPISODE:
- How to BEAT the Market | Joel Tillinghast & Uncovering the Art of Outperformance: • How to BEAT the Market...
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📖 BOOKS MENTIONED:
- Big Money Thinks Small by Joel Tillinghast: amzn.to/3gxLH72
- Richer, Wiser, Happier by William Green: amzn.to/3RX9gDp
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ABOUT OUR SHOW 🎙
On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.
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❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.

[@WeStudyBillionaires]

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[@radigeorgiev9662]

please get Peter Lynch for an interview. This will be legendary.

[@Julio836]

Give an inch…

[@radigeorgiev9662]

@@Julio836 What?

[@RolfStumpfRailMedia]

What a nice interview. The other night I stumbled across Nassim Taleb's rant about the many many books about 'What to do" and the not written books about "What not to do".

[@SiddhantGoenka.Official]

some issue with the audio from joel's end

[@DONALD1951]

I listen to all sorts of podcasts on you tube…I came across this channel and it has become my go to show…

[@WeStudyBillionaires]

So happy to hear you're enjoying our content!

[@anahitakatrak5995]

Happy New Year Mr William Green, always a pleasure to listen to you and your interviews. Your book is an excellent read. Was recommended by Mr. Guy Spier.

[@WeStudyBillionaires]

Happy new year! Thanks so much for watching.

[@anthonyminniti17]

Great interview. I listened to it twice!

[@WeStudyBillionaires]

Glad you enjoyed it, Anthony!

[@alokjr]

I was expecting this video in Richer, Wiser and happier podcast...Great insights. William you are the best in the world to ask such an insight-extracting quality questions...

[@WeStudyBillionaires]

Thank you so much for watching. So happy you're enjoying the show!

[@WilliamGreenRicherWiserHappier]

Many thanks! I really appreciate it. Warm wishes, William

[@FashionGirlsAI]

Thank you for another brilliant interview. Joel seems like a very humble and decent human being. Fascinating interview, and it has also help to formulate my investing ideas.

[@WeStudyBillionaires]

Our pleasure!

[@kenchoi702]

What a gem full of insight! William not only writes well but also interviews in a very seamless manner. Thank you!

[@WeStudyBillionaires]

Thank you so much! 🙏

[@cjiscurrentlyonline]

No doubt a great investor to learn from, but he also seems to be a genuinely wonderful human being. Thank you for this interview

[@WilliamGreenRicherWiserHappier]

Thanks so much, Neels. I totally agree: Joel has that rare and precious combination of huge talent, decency, and humility. He's a really fine person. Warm wishes, William

[@WeStudyBillionaires]

Glad you enjoyed the interview, Neels!

[@dassa0069]

Interview Robert Robotti.

[@alistaird1811]

First