Meet Fidelity's value visionary Joel Tillinghast

Joel Tillinghast's name will go down in history as a pioneer of value investing. A highly decorated fund manager, Tillinghast was hired and trained by value investing genius Peter Lynch himself, who called him a 'one-of-a-kind investor that cannot be replicated'. Tillinghast proved his mettle as a successful fund manager at Fidelity Investments for over three decades. He managed the Fidelity Low-Priced Stock Fund that gunned out an impressive annual return of nearly 13 per cent since its inception in 1989, far outdoing the S&P 500 Index's annualised return of 10.4 per cent over the same stretch (as of December 2023). We recently came across Tillingast's interview post his retirement in December 2023 where he spoke about his investing philosophy and stock selection process, among other things. We lay out some of the key takeaways from the chat. On his experience with Peter Lynch Tillinghast admired Lynch for his ability to consider and analyse several possibilities before making an investment decision. He looked up to Lynch's uncanny ability to operate with an open mind and overcome any assumptions or biases. "Peter considered a very wide range of investment possibilities, both companies and scenarios. He always wanted

This article was originally published on August 19, 2024.