A Longtime Fidelity Manager Sold GameStop, and Has Some Regrets wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.
Legendary fund manager Joel Tillinghast says the best strategy for equity investors to achieve long-term success is to avoid big mistakes and discover companies that have been overlooked by most and yet have a high likelihood of delivering solid long-term gains.
Tillinghast says if an investor wants to achieve great long-term portfolio performance, she need not choose the most exciting stocks, nor does she need to be bold and daring in such a pursuit.
“A small mistake is generally easier to repair. Thinking small not only reduces the severity and frequency of errors, but also puts you in a better frame of mind to expect to fix them,” he says in his book
GameStop s top investor during the wild Reddit-fueled trading frenzy has dumped nearly all of its stake
GameStop s top investor during the wild Reddit-fueled trading frenzy has dumped nearly all of its stake
Will DanielFeb 12, 2021, 01:16 IST
A closed GameStop store.Evan Agostini/AP
Fidelity Investments sold all but 87 shares of its
GameStop holdings in January, according to SEC filings.
Fidelity was once the largest shareholder in the video game retailers owning 13% of the company.
The company wasn t the only institutional investor to cash in on the stock as the price surged.
Senvest Management also racked up nearly $700 million in profits on the trade, the Wall Street Journal reported.