Jean Hynes: Dig Deep and Hold Your Position

Jean Hynes, CEO of Wellington Management, shares pivotal investment lessons learned from her career in healthcare and biotech. She recounts an out-of-consensus bet on Schering-Plough, driven by the potential of Zetia to replace Claritin's profits, which proved successful despite initial market skepticism and unexpected shifts in retail drug distribution. Hynes also discusses a less successful call on Elan, where a failure to fully understand the company's financial statements and a drug recall led to a 90% stock drop, emphasizing the need to deeply analyze financial implications alongside scientific advancements. Furthermore, Jean reflects on her journey to becoming CEO, highlighting the importance of challenging oneself and laying foundations for long-term value creation.