According to Tilson there is no sure way to "get rich quick." Instead Tilson believes the best approach is to take a long term time horizon and try and get rich slowly by applying the basic principles of value investing.
Value investing takes many different forms according to Tilson, but the one common theme is that it involves buying something for a discount to its true intrinsic value.
Tilson believes (like Warren Buffett) that good investors are differentiated from mediocre investors by control of their emotions. People are hardwired in a manner that does not serve them well with respect to investing. It takes hard work to overcome the emotion-driven decisions that plague most investors.
Watch the video below for more on Tilson's thoughts on value investing: