Key Points:

– Joel Tillinghast, the manager of Fidelity Low-Priced stock, will be stepping down at the end of the year.
– Tillinghast launched the fund in 1989, and under his management, it has delivered an average annual return of nearly 13%.
– Fidelity Low-Priced stock is known for its focus on investing in undervalued stocks with low prices.

Goodbye to Joel:

After an impressive run of managing Fidelity Low-Priced stock since its inception in 1989, Joel Tillinghast has announced that he will be stepping down at the end of the year. Investors will bid farewell to the man who has delivered an average annual return of almost 13%. Tillinghast’s departure marks the end of an era for this popular fund.

Hot take:

Joel Tillinghast may be leaving, but his legacy in the investment world will be remembered. His ability to uncover undervalued stocks and generate consistent returns is no small feat. While investors will have to adjust to new management, they can look back on Tillinghast’s tenure with gratitude and hope for a promising future for Fidelity Low-Priced stock.

Original article: https://www.cnbc.com/2023/08/21/advice-from-a-fund-manager-whos-crushed-the-sp-500-since-1989.html