Margins of Safety


Joel Tillinghast of Fidelity Investments describes why a key element of his fund’s mandate just changed, the five ways in which he tries to get a margin-of-safety edge, the industry he’s trying to re-master, why he’s holding more than 900 positions in his portfolio, and what he thinks the market is missing in Fresh Del Monte, Next plc, UnitedHealth and DVx Inc.

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