Kari Firestone, Co-Founder & Chair Emerita of Aureus Asset Management

In this episode of Declarations, Todd Rich sits down with Kari Firestone, Co-Founder & Chair Emerita of Aureus Asset Management. Kari shares her remarkable journey — from a childhood stock-picking contest in Boston to working with legendary investor Peter Lynch at Fidelity and ultimately building her own firm. She reflects on lessons in risk-taking, balancing career and family, and why listening and learning remain central to her “declaration” in life. The conversation also touches on her book Even the Odds, her community and philanthropic involvement in Boston, and her upcoming transition as she steps back from Aureus to embrace new pursuits, family time, and personal passions.

They discuss:
• From 5th-grade stock contests to a part-time job at Merrill Lynch, Kari discovered investing young
• Working under Peter Lynch at Fidelity and learning the art of deep research and spotting unrecognized value
• Founding Aureus with David Scudder and pioneering private markets for families
• Patience in 2008–09 created opportunities; today’s market challenges are more about recalibration than systemic collapse
• Deep commitment to education, healthcare, and Boston institutions that shaped her life

Topics:
(00:00:00) – Introduction & Kari’s declaration: listening and learning
(00:05:00) – Childhood in Boston, stock-picking contest, and early fascination with markets
(00:08:00) – Early exposure to Wall Street and Harvard Years
(00:13:00) – Fidelity career and working with Peter Lynch at Magellan Fund
(00:18:00) – Spotting unrecognized value
(00:22:00) – Kari’s principles of great investing
(00:26:00) – Balancing motherhood and a demanding career
(00:29:00) – Founding Aureus Asset Management with David Scudder
(00:38:00) – Investment lessons from 2008–09; patience and liquidity in crises
(00:42:00) – Today’s environment: recalibration, not collapse
(00:45:00) – Writing Even the Odds and the four R’s of risk
(00:50:00) – Transitioning from Aureus, next chapter, and personal passions
(00:53:00) – Philanthropy and giving back to the institutions that supported her
(00:56:00) – Closing questions: favorite book (Lush Life), best advice, pursuit of happiness