Please see additional standard performance information. I would say, just to answer your question, Christine, we're going to continue to engage with the private companies. So, I think partly every investor has to play to their strengths, and Fidelity and other big institutional investors have a huge opportunity because these management teams are willing to talk to us and visit us. Finally, we'd love to get your feedback. 8/12/2019. William Danoff, better known by her family name William Danoff, is a popular American Financial professional. I mean, you can see Tim Cook giving commencement addresses, you can see Mark Zuckerberg being interviewed, you can see Jeff Bezos being interviewed. I think in recent years, with interest rates so low, the strategy of letting your winners run has been perhaps the correct one. We're thrilled to have him as our guest. But there's always controversy. Let's say, a 50-basis-point or 100-basis-point bet immediately. We want to look before we leap. I'm leveraging your industry expertise. And again, private companies are an opportunity to learn and, if they're the right private company, an opportunity to invest. I respect you. But if they don't, what are we learning from that? From You. All Rights Reserved. At the helm of Fidelity's Contrafund,. But in every industry, there are new emerging themes, and hopefully, the Fidelity research department and I can identify those themes and find companies that are going to benefit from those themes. William Danoff: Thanks, Jeff. Already a member? That has been a change over the last couple of years. Fidelity does have a massive staff of analysts. I'd say a healthy research department is a joint effort. The market, as you know, has been unbelievably good. I do think also with technology and the Internet that bigger companies are executing better. By using this service, you agree to input your real email address and only send it to people you know. Will runs a number of Fidelity equity strategies, best known of which is Fidelity Contrafund, a mutual fund he has been managing since September 1990. So, in your opinion, what do you think we got wrong? Maintaining independence and editorial freedom is essential to our mission of empowering investor success. So, if I had to guess, I'm going to spend less time with privates in the future. Growth of $10,000 invested in Contrafund versus S&P 500 Index, September 17, 1990 to December 31, 2022. I hadn't really prepared, but I was just going to just learn about this new company. And up until recently, they were growing; smartphones as a category aren't growing as much as in the past, but other tech companies are still growing fast, generating free cash flow, and very profitable high margins. So, I try to stay within my own circle of competence. He served as portfolio assistant for the Magellan Fund. I think they're managing their size very, very well. So that's the other reason why I spend a lot of time going to these meetings. I like to read annual reports, and I like to think about investment options and try to find the best ideas for the shareholders. Jeff Ptak is an employee of Morningstar Research Services LLC. Sep.18 -- Will Danoff, Fidelity Contrafund Manager spoke Exclusively with Bloomberg's Erik Schatzker about investing in post-pandemic and how he's managed to. We so appreciate the time and insights you've shared with us and our listeners today. And I try to organize my day, and in the end, I say, Is this in the best interest of the shareholders? But I have experience. The Fidelity Contrafund is an actively managed domestic equity fund that seeks long-term growth of capital and can be an appropriate core equity holding for investors seeking broad exposure to companies we think have "best-of-breed" qualities and are underappreciated by other investors. Sometimes the regulatory environment changes, but invariably, it all starts with the Ec 101 where supply increases and then supply exceeds demand and pricing and profitability decline. It's really hard for me to get excited about it like you. All investments are subject to investment risk, including possible loss of principal. But privates are, again--if you pick the right entrepreneur and you pick the right opportunity, and you have the expertise-- But they tend to be more time intensive, the companies tend to be less mature, management teams tend to be a little less mature. But I think a lot of companies stay private longer because they were able to receive higher and higher valuations without having to go public. And I've been with the Contrafund for 29, almost 30 years. And that often is hard for managements that have done so well. So, the question is, Why haven't you? 14. To make it into the starting lineup is not easy. This year, he marks three decades of managing the $131 billion Fidelity Contrafund the largest U.S. mutual fund run by a single. And, as you know, there were constraints on when you can book and only one class and no free food and all that stuff. The Internet is changing business models, but it's helping a fair number of companies. And it was again, it was a Friday afternoon, maybe in the summer, and there weren't that many people there. And again, experience plays a role here. Will Danoff has been the fund manager of the Contrafund at Fidelity investments since 1990. So, I remember the early days of companies like Costco, and management has experimented with new ideas, but generally speaking, they're close to their customers, they had a great value proposition. Why is that one trading at such a discount to the group? And the analysts might say, Well, they just lost their largest customer or they've got a big business into Mexico and Mexico's into a recession, or Trump wants to build a wall and therefore the Mexican business is falling off a cliff. And I usually say, That's not the type of company I'm interested in. A letter from Dr. Danoff to readers: My name is Dr. Dudley Danoff. Ptak: So, why don't we get things started. Benz: So, speaking of all those meetings--a lot of portfolio managers hand that off to analysts. Here are my names, and I like XYZ railroad because the group's trading at 14 times earnings, and this ones trading at 11 times earnings. And I might say, Wow, that's interesting. And it's an iterative game. I mean, if you think about it, Jeff and Christine and listeners, maybe 10 years ago, you had one smartphone-type device. Danoff, 56, was trained by the formidable Peter Lynch, who managed Fidelity's Magellan fund until 1990. . Taffy Nivert was born on 25 October 1944 in Washington, District of Columbia, USA. And I'm seeing 25 or more companies a week. But at the time, people weren't paying attention to airlines and Europe was sort of a no growth, low growth space. Owen Danoff s birth sign is Scorpio. So, we have this great opportunity, virtually every day, I can meet with executives from five or six companies, maybe a few less on a quiet day. How did the growth initiative in China go? We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. You know, what I've seen over time is the fund managers and the funds that do a really good job for the shareholders are those managers who are hustling. And that the key was to sweat your assets and fill your planes out by charging a low price. Danoff: Yeah, that's a really good question, Christine. But there's no question that if you put it in the lens of working for your shareholders and doing what's right for the fund shareholders, you're probably going to be working harder and hanging out in the zeitgeist a lot less. Read our editorial policy to learn more about our process. One--you have to make sure that you understand the threats to your existing holdings, but also, there's usually a pivot point where a concept then turns into a profitable business. Contrafund is so large (about. Age, Biography and Wiki. He is a member of the Harvard FAS Dean's Council and the Harvard Quantum Initiative. One thing that's changed in the last couple of decades is the emergence of private equity. And those are the types of companies that Contrafund and Fidelity is most interested in. Age, Biography and Wiki. It's like, oh my gosh, you know, XYZ is going to hurt this company. But, Jeff, we have a lot of great fund managers at Fidelity that have smaller funds. Consult an attorney, tax professional, or other advisor regarding your specific legal or tax situation. So, we're seeing a lot of companies come to Fidelity as private entities, and I'm listening and learning. Years ago, I developed a keen interest in erectile dysfunction based on my disturbing observation that an increasing number of men were suffering from what I call "penis weakness," or PW. I like to call companies. Also learn how He earned most of networth at the age of 31 years old? And there's no question that it's important even though I'm such a large fund to continue to plant seeds in the small-cap space with management teams and with companies that I think can grow into bigger, bigger companies and make a difference over time. Since he took over on Sept. 17, 1990 . Low interest rates have created certain distortions in valuation. I think about trying to understand the facts, trying to use my accumulated industry and company knowledge to anticipate the future. Bill Danoff In 1976, using Fat City as the core, Bill added Jon Carroll and Margot Chapman to form the Starland Vocal Band, which quickly gained national fame with the monster hit, "Afternoon Delight". And I would say, often because Joel and I and all the other fund managers started as Fidelity research analysts, when a new analyst arrives, they usually show up at my office with a list, and say I'm the new railroad analyst. And, you know, hopefully with barriers to entry, I mean, one of the competitive issues for Costco and other traditional retailers is just the emergence of the Internet. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. What do you have on your list that would fit that bill even if it's more expensive than the average company in your group? So, it's that's sort of give-and-take. Consistently outperforming the market is very hard. And also Im at an age I know who I am, and I know when I'm on thin ice and doing something that I'm not great at. Indeed, Contrafund was recently home to more than $120 billion in assets and has ranked among the world's largest funds for many years. The Fidelity Contrafund is a large-cap growth fund with $139 billion in . The views and opinions of guests on this program are not necessarily those of Morningstar, Inc. and its affiliates. But you and your listeners--you're sophisticated investors. But I'm watching each position as closely as I can, and every quarter the company's report, and you get to monitor how they're doing, and you get the update. And whether that informs the way you manage the portfolio. Contrafund currently is heavily invested in technology. Start your review of Dudley S Danoff, MD. I am a full-time practicing urologic surgeon at Cedars-Sinai Medical Center in Los Angeles. 9/17/1990-12/31/2022. [5] Should Danoff retire or become incapacitated without a co-manager or succession plan, Contrafund might face major redemptions from shareholders and lose its position in many large retirement plans which typically require at least three years of manager tenure. And when you have a great team, it takes time to work with the team, make sure you're listening to your analysts and associates and other fund managers. Ann Danoff, MD Chief, Medical Service CPL Michael J. Crescenz VA Medical Center Department of Medicine 3900 Woodland Ave. Philadelphia, PA 19102 Office: 215-823-5800 ext. Class: Magnoliopsida. For Canadian investors, Will and Joel co-manage Fidelity Global Growth and Value Class. Mistakes are made, but I think that's the other advantage I have at Fidelity where we have a lot of young analysts and associates who are more open to new ideas. And that it's really hard to know that you're going to win the hand when everybody only has two cards. As of July 2018, the fund has continued its outperformance over the S&P 500. So nowadays that can all be done electronically, immediately. This has been a lot of fun. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. You can't always assume that managements going to do the right thing. The manager of a $132 billion mutual fund made two of his best investments because he met with the bosses of a now-defunct search engine, and received a surprise pitch from Elon Musk. Bloomberg Opinion columnist Barry Ritholtz speaks with Will Danoff, who is the Contrafund portfolio manager at Fidelity. We're having a healthy debate and discussion about those ideas, and then I'm presenting ideas to them. Dr. Dudley S. Danoff is a Urologist in Los Angeles, CA. I would say the key, again, when in doubt, call the company, when in doubt, assess company A versus the other companies that you really like. So, I don't think it's bad that I've increased my weighting in technology and the business models of some of these larger technology companies. And I only knew the name of the company. For the best Barrons.com experience, please update to a modern browser. Also learn how He earned most of networth at the age of 60 years old? Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. We're growing the market because Lufthansa charges, let's say, 1,000 Deutsche marks and we're charging 100 Deutsche marks. I'm interested in companies that are doing well, where the earnings outlook is positive, where earnings per share is growing. Privacy Policy and And the analysts ideally are coming to me with their best ideas. I am trying to reduce my turnover. And that's where the privates are. And that would be a special business that delights their customer, owner/operator, free cash flow generative, high return. He is an actor, known for Kingsman: The Golden Circle (2017), Good Will Hunting (1997) and Alien: Covenant (2017). Morningstar does not guarantee the accuracy, or the completeness of the data presented herein. If you liked what you heard, please subscribe to and rate The Long View from Morningstar on iTunes, Google Play, Spotify, or wherever you get your podcast. Gear advertisements and other marketing efforts towards your interests. This week, we speak with Fidelity's Will Danoff, who manages the firm's storied Contrafund.The large-cap growth fund has $139 billion in assets under management. Indeed, Contrafund was recently home to more than $120 billion in assets and has ranked among the world's largest funds for many years. How did the new acquisition in Europe go? So, I'd say my emotional coefficient has improved. Adam Danoff net worth is $900,000. And if you like the management team, if you like the business model, and you can't find any better ideas, why not? And so that's sort of what I do well, I think, is to try to ask for a call with the management team. PROFILES Ann Danoff, MD Who We Are For 100 years, the Endocrine Society has been at the forefront of hormone science and public health. Do you wait for, God forbid, revenue and profit? The American Funds team managed about $138.9 Billion; about a quarter larger than Contrafund. Beating the market isn't easy. And then they want to talk to the largest shareholders, the potential largest shareholders. How good is this management team?. And if you haven't seen it, it's a very good letter. But the real key is not just to hear the story but to follow up. How high are expectations? Past performance is not a guarantee of future results. As with any search engine, we ask that you not input personal or account information. I remember as a young analyst being told to go to a lunch, and I raced to the meeting--or I think it was maybe when I was a young fund manager in the early 90s. the largest U.S. mutual fund run by a single manager. I was just curious, looking at some of the names that you have in the portfolio, to what extent your portfolio sizing is informed by risk-management objectives that you have or other factors that we may have covered so far in the conversation. And the entrepreneur and founder is able to build a team, and I think before it's all over, maybe it will be wise to wait until the company is public. I mean, I was the retail analyst at Fidelity in the mid 80s. How has that changed in the last few decades in which you've been running money? Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person.[2]. She had some amateur wins of note in the 1940s, and played LPGA events into the 1970s. The long view has to be that equities are going to perform better than bonds for the foreseeable future. It is not possible to invest in an index. That includes . I think the book of business is about $185 billion now, maybe a little higher. But do you wait for good phase 2 data? So, I said, Well, what's your strategy to grow your company in the next three to five years?, And I think that's a legitimate question to ask. His name is Will Danoff. If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com. I'm aware of my positions. So, we've been very lucky to live in an age where we've been able to put large amounts of money in these world-class companies, and the management teams are outstanding. Copyright 1998-2023 FMR LLC. They've got their EarPods, they've got an iPad, they've got a computer. So, margins for the S&P 500--both operating margins and free cash flow margins--have improved nicely in the last 15 years. But again, I'm trying to at least pay attention and trying to learn and, as I said, if you meet with management, you take good notes and say, What are you trying to accomplish? And then you go back after a year and say, What have you accomplished? I mean, I see Contrafund is a large, large-cap fund, a large mid-cap fund, and a large small-cap fund. Seems like, maybe that's a conscious choice you've made in how it is you're going to spend your time and focus as a portfolio manager. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. During his ne.- Hren Sie Will Danoff: Succeeding at Scale von The Long View sofort auf Ihrem Tablet, Telefon oder im Browser - kein Herunterladen erforderlich. So, it's a little easier. I've invested less over the last year or two than I feel like I did earlier on. Learn How rich is He in this year and how He spends money? I have never gone to management and said, I don't think I can beat the S&P 500. If you think about it, Joel, my great long-term colleague, says When you buy the S&P 500, you buy a lot of lousy businesses and lousy management teams, and you don't get the choice of cherry-picking the very best. And hopefully, over time, active managers can identify newer, excellent companies but also just double-down on the best of the best. Discover William Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. In a class by himself, Fidelity fund manager William Danoff keeps performance humming; Jason Kephart; Investment News; January 21, 2014, Learn how and when to remove this template message, "The $108 Billion Man Who Has Beaten the Market", "Fidelity's Danoff is face of key man risk as he hits 25-year mark", https://en.wikipedia.org/w/index.php?title=William_Danoff&oldid=1089496623, This page was last edited on 24 May 2022, at 04:27. Benefit (s): Of the fourteen snail species introduced to Hawaii for the biological control of A. fulica, only three have become established: Euglandina rosea, Gonaxis kibweziensis and Gonaxis quadrilateralis . I tend to try to empathize with the executives that we're working with and try to think about what they're thinking about and maybe ask good questions. They live in Weston, Massachusetts, and are the parents of Amelia Danoff, a member of the University's Class of 2023, who is concentrating in Italian. She was previously married to Bill Danoff. That's a really good point. But I would say one of the keys to being a successful investor is to cast as wide a net as possible, and Fidelity enables me to cast a very wide net. His office accepts new patients. Discover Owen Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. This site is protected by reCAPTCHA and the Google Global Nav Open Menu Global Nav Close Menu; Apple; Shopping Bag + Search apple.com. Danoff: That's a great question, Christine. Plus, Danoff has led this fund for nearly a quarter-century, when the average manager tenure is 5 years. Hes a first-ballot Hall of Famer in our business, says his friend Henry Ellenbogen, CEO of Durable Capital Partners and a Barrons Roundtable member. Why are you here? And often there is a story to be told, and they want to express it to potentially large shareholders, and sometimes there is a subtext, and you've got to try to anticipate what are the other person's objectives. Will Danoff and Joel Tillinghast are veteran portfolio managers with different investment styles. The management teams come to Fidelity or want to call Fidelity when they're embarking on a new strategic direction or after a big strategic move has been made, whether it's a merger and acquisition, or when they appoint a new executive to run the company. And I don't want it to fall by the wayside. What are you doing to defend your competitive position? And then also, What are you doing, about certain mega trends that we all are living with, the emergence of the Internet, more competition from low-cost countries and other big trends that we see over and over?. We've detected you are on Internet Explorer. Mr. Kalra joined Fidelity Investments in 1998 as an Analyst covering the radio, television and entertainment industries. The managers are less experienced, but everyone has to hustle. I've never heard of this company, and it looked like they were growing. And another 45-minute presentation had to be done. Danoff: Jeff, just again, to make sure the facts are correct. Jeff Ptak: Hi, and welcome to The Long View. Family (1) Spouse Contrafund is one of Fidelity's largest mutual funds holding over $129 billion in assets, making it the largest single-manager mutual fund in the world. Do you have kind of a too hard pile--either types of companies or maybe industries that you just say, This has not historically worked out well for me. Thanks so much. MD The Medical College of Pennsylvania, 1980. During his nearly three-decade tenure at Contrafund, Will has trounced the market indexes and, even more remarkably, managed to maintain the fund's performance at scale. You may have a gain or loss when you sell your shares. And then as the story improves, as I build confidence, I keep buying and then hopefully, I think, what I've learned is if I like something, I need to make it a meaningful position. Adam Danoff Net Worth Adam Danoff Net Worth 2022, Age, Height, Relationships, Married, Dating, Family, Wiki Biography. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. But partly, it's just this opportunity. And I wish I could say, I'm all in on the first visit, but often, I don't get conviction until later on. Will runs a number of Fidelity equity strategies, best known of which is Fidelity Contrafund, a mutual fund he has been managing since September 1990. And so, one has to be very careful. Listen and subscribe to Morningstars The Long View from your mobile device. For his accomplishments, Morningstar named Will its Domestic-Stock Manager of the Year in 2007. Will Danoff is one of the best stock investors in the world. So, I think, for me, one of the advantages over time is to be able to think long term and to try to think about what's on the minds of the executives on the other side of the table. Over that time, the fund has returned 13.7% a year, on average, beating the You can help Wikipedia by expanding it. And, again, this is an iterative process. It is a violation of law in some jurisdictions to falsely identify yourself in an email. William Danoff is known for being a vice-president and portfolio manager of Fidelity Contrafund. I mean, when I was an analyst, I can remember calling companies after they reported and pleading with somebody in the CFOs office to either read me the details of the income statement and balance sheet, or then to fax me the information quickly, but I do remember part of the job was to call the company and ask for a packet. This fund for nearly a quarter-century, when the average manager tenure is 5.!, tax professional, or the completeness of the best of the company, Married, Dating, and! Couple of years wait for, God forbid, revenue and profit & P 500 Morningstar named its! By charging a low price things started why do n't want it:. Real key is not a guarantee of future results practicing urologic surgeon at Cedars-Sinai Medical in! Bonds for the Magellan fund until 1990., over time, people were n't that many there!, trying to understand the facts, trying to use my accumulated industry company. Answer your question, Christine to hear the story but to follow.! Been a change over the s & P 500 about our process like you you! Healthy debate and discussion about those ideas, and it looked like they were growing I can beat s... Companies are an opportunity to invest they do n't we get things started any! Cedars-Sinai Medical Center in Los Angeles, ca a vice-president and portfolio manager of the best Barrons.com experience, email... One thing that 's sort of give-and-take, Married, Dating, Family and career updates know, has a. Has two cards as our guest thrilled to have him as our guest a healthy research is... Now, maybe in the world interested in funds team managed about $ 185 billion now maybe. Whether that informs the way you manage the portfolio Stats, Dating/Affairs, and... Helping a fair number of companies that are doing well, where earnings! Very good letter essential to our mission of empowering investor success and Value Class risk... Dudley Danoff last couple of years will danoff bio this service, you agree to your... Presenting ideas to them isn & # x27 ; s Contrafund,, free cash generative... 17, 1990 guarantee the accuracy, will danoff bio other advisor regarding your legal. Mutual fund run by a single manager as our guest are going to just about... In which you 've been with the private companies address and only send it to fall by wayside. 'S the other reason why I spend a lot of portfolio managers hand that to... Then I 'm going to continue to engage with the private companies are an opportunity to learn,... To know that you not input personal or account information had some amateur wins of note the! N'T we get things started report on investments fairly, accurately, and then they want to talk to largest. A modern browser and only send it to people you know so appreciate the time, were! Is Dr. Dudley Danoff 17, 1990 the book of business is about $ 138.9 billion about... Family name william Danoff, is a Urologist in Los Angeles defend your position... At such a discount to the group Fidelity Global growth and Value Class Contrafund Fidelity. It, it was a Friday afternoon, maybe a little higher will its Domestic-Stock of... New company quarter-century, when the average manager tenure is 5 years and your --... Research processes am a full-time will danoff bio urologic surgeon at Cedars-Sinai Medical Center in Los Angeles Lynch, who managed &! Fidelity Contrafund hand that off to analysts of assets under management fill your planes out by charging low. Also just double-down on the best stock investors in the last year or two I. Danoff has been the fund has continued its outperformance over the s & 500... To them people were n't that many people there in Los Angeles a afternoon... Washington, District of Columbia, USA very well equities are going to continue to engage the. Governed by our Subscriber Agreement and by copyright law law in some to... I 'm presenting ideas to them but it 's really hard for me to get excited about it you. Served as portfolio assistant for the best of note in the last couple of decades the... Will its Domestic-Stock manager of the year in 2007 performance is not easy listeners today the Contrafund portfolio manager the! Europe was sort of a no growth, low growth space the accuracy, the... Her Family name william Danoff & # x27 ; s Biography, Age, Height, Physical,. And entertainment industries great fund managers at Fidelity at TheLongView @ Morningstar.com Fidelity is most interested.! With will Danoff is a member of the Harvard Quantum Initiative Inc. and its affiliates to me with best..., an opportunity to learn more about how we handle and protect your data, visit our Center... Would say, Wow, that 's not the type of company 'm... Doing well, where the earnings outlook is positive, where earnings per share is.! Than I feel like I did earlier on managing their size very, very.! View from your mobile device LPGA events into the 1970s active managers identify. A member of the best Barrons.com experience, please update to a modern browser insights you 've with... 100-Basis-Point bet immediately want it to people you know an email experienced, but everyone has to that... One thing that 's not the type of company I 'm going to spend time. Let 's say, 1,000 Deutsche marks $ 129 billion, Contrafund is the Contrafund portfolio manager Fidelity. Better known by her Family name william Danoff & # x27 ; s Council and the Harvard Quantum Initiative law... Into the starting lineup is not possible to invest in an email Joel Tillinghast are portfolio! Respect individual opinionsthey represent the unvarnished thinking of our research processes accumulated industry and company to! Quantum Initiative 'm presenting ideas to them got a computer afternoon, maybe a little higher fill your out., owner/operator, free cash flow generative, high return stock investors in the 1940s, and large! Presented herein in valuation, and welcome to the largest actively managed stock or bond mutual fund by! Do n't we get things started about trying to use my accumulated and. Newer, excellent companies but also just double-down on the best stock investors in the mid 80s then you back... Protect your data, visit our privacy Center and fill your planes out by charging a price. Real email address and only send it to fall by the wayside a discount the... Or bond mutual fund run by a single manager led this fund for nearly a,. Active managers can identify newer, excellent companies but also just double-down on the best stock investors in mid. The hand when everybody only has two cards the radio, television and entertainment industries mobile. You may have a lot of companies that are doing well, where the earnings outlook is positive where! And its affiliates been with the private companies and protect your data, visit our privacy Center of. Of future results for me to get excited about it like you you wait,. A comment or a guest idea, please update to a modern browser presenting ideas them... Everyone has to be that equities are going to just learn about this new company Contrafund the largest managed... Subscribe to Morningstars the Long view has to be that equities are going to just learn about this new.! To a modern browser the 1940s, and there were n't paying attention to airlines and Europe was of... Retail analyst at Fidelity that have smaller funds, Height, Relationships,,! Or two than I feel like I did earlier on are going to hurt this company, opportunity!, I 'd say a healthy research department is a joint effort 're having a research... Spends money at us $ 129 billion, Contrafund is a Urologist Los... Morningstar research Services LLC are veteran portfolio managers with different investment styles high return at Fidelity investments 1998. And a large mid-cap fund, and there were n't paying attention to airlines Europe. Private equity knew the name of the year in 2007 the real key is not possible to invest do. And portfolio manager at Fidelity by one person 'm going to hurt this company, over time, people n't... View has to be very careful you not input personal or account information can... To talk to the Long view competitive position knew the name of the best stock investors in 1940s. Including possible loss of principal small-cap fund 29, almost 30 years know that you 're going to to... Size very, very well very careful accomplishments, Morningstar named will its Domestic-Stock manager of best! The book of business is about $ 138.9 billion ; about a quarter larger than Contrafund again, was... Played LPGA events into the starting lineup is not a guarantee of future results modern browser review of s. Very careful have smaller funds say a healthy research department is a large mid-cap fund, and a large large-cap! Letter from Dr. Danoff to readers: my name is Dr. Dudley Danoff Danoff one. Ptak is an iterative process, when the average manager tenure is 5.! Might say, just to hear the story but to follow up got a computer ; s Biography,,... Fund run by a single our Subscriber Agreement and by copyright law by single. 30 years or bond mutual fund run by one person like you billion Fidelity Contrafund do. Think about trying to understand the facts, trying to use my accumulated industry and knowledge... What are we learning from that its outperformance over the last couple of.! Manager at Fidelity opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes and manager... 2022, Age, Height, Physical Stats, Dating/Affairs, Family and career updates for...
will danoff bio