will danoff bio

Important legal information about the email you will be sending. So, it's a little easier. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. So I ran into at about 12:35, and there was an empty seat, and I sat down. Eclipsing the market over decades is astonishing. 30 years of managing Fidelity Contrafund. He has been married to Joan Grbach since 1988. Bio of Golfer Bettye Danoff, an LPGA Founder Bettye Danoff never won on the LPGA Tour, but she still has a very important place in tour history: She was one of the tour's 13 founding members. I'm interested in companies that are doing well, where the earnings outlook is positive, where earnings per share is growing. He is an actor, known for Kingsman: The Golden Circle (2017), Good Will Hunting (1997) and Alien: Covenant (2017). You can go to YouTube, I think, and search for me or the letter advertisement at Fidelity. Born on May 7, 1946 in United States of America, Bill Danoff started his career as Singer . Danoff's Contrafund mutual fund outperformed the S&P 500's trailing one year, three year, five year, ten year and fifteen year total returns, making the mutual fund one of only three to accomplish such an achievement still in the marketplace as of the beginning of the year 2014 (according to Morningstar Incorporated). Benz: You mentioned that you try to invest in companies where you're confident management will do the right things. And, if I had to guess, I think that trend might slow down. And part of the toughest challenge I think, as an investor--and your listeners have to keep this in mind--is saying, That's interesting, but I either will wait and see how you do or that's very interesting, I want to learn from you, but at this moment, I don't want to invest. And sometimes when these companies come to Boston, they're a little upset if they meet with Fidelity and then Fidelity doesn't do anything. And again, private companies are an opportunity to learn and, if they're the right private company, an opportunity to invest. But you and your listeners--you're sophisticated investors. You know, you think about the great Warren Buffett. This is sort of who I am. Danoff: Jeff, just again, to make sure the facts are correct. 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. And in talking to company management--what do you think you get from that experience? To make it into the starting lineup is not easy. Will Danoff, Fidelity Contrafund Manager spoke Exclusively with Bloomberg's Erik Schatzker about investing in post-pandemic and how he's managed to beat the S&P 500 by an average of more than 3 . 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. The Fidelity Contrafund is a large-cap growth fund with $139 billion in . My denominator is so big that it's not that easy to find really great stories at scale."[4]. But capacity--you know, I'm my degree of difficulty is harder than a smaller fund. But that's just speculation. 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. I was with the executive team of Mettler Toledo recently, and they reminded me that they had gone public 20 years ago, and I think Fidelity has been one of the largest shareholders over virtually all of that time period, and I was thinking back to going to a conference almost 20 years ago, and I was tired, and the conference was coming to an end. Mitchell C. Indio, CA. I'm monitoring my existing ideas, and I'm across the table from decision-makers or other executives saying, What are you doing to strengthen your franchise? We'll widen the aperture, so to speak, and talk about sort of the general theme of focus. You're well known in investing circles. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Also learn how He earned most of networth at the age of 60 years old? Jeff Ptak is an employee of Morningstar Research Services LLC. You may have a gain or loss when you sell your shares. I mean Fidelity is an unbelievable organization. Will Danoff, the stock picker behind the $100-billion (U.S.) Fidelity Contrafund - the world's largest actively managed fund run by one person - is now accessible to Canadian investors. And the stock was never particularly cheap after it was rerated 15 years ago, but they kept executing, and it was a virtuous cycle, and I really liked management, and it was only because I had basically squeezed in another meeting at the end of a long day. Maybe I have a little more experience because I've been managing Contra for almost 30 years, but the access to information has changed meaningfully. Benz: So, speaking of all those meetings--a lot of portfolio managers hand that off to analysts. And I'd say try and stay optimistic. Tom Ford. I would say I probably see two or three private companies a week. And to monitor what's happening. Read our editorial policy to learn more about our process. Are we going to get sold again to some conglomerate or to some private equity firm?. 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. William Danoff: Thanks, Jeff. Morningstar Research Services is a subsidiary of Morningstar, Inc. and is registered with and governed by the U.S. Securities and Exchange Commission. Terms of Service apply. And I hope everybody has a great year. We've been very lucky that in the last 10 years, these mega-cap companies have been able to continue to grow. There could be big economic opportunity if these biotech companies can solve some of these disease opportunities. Danoff has a degree in history from Harvard and an MBA from Wharton. Fidelity does have a massive staff of analysts. That includes . He's beat large-cap growth by 400 basis points. And I think we've done very well because we're both large consumers of the Fidelity research department's ideas and efforts, but we also work closely to influence the research effort and what stocks the analysts are emphasizing. Listen and subscribe to Morningstars The Long View from your mobile device. Indeed, Contrafund was recently home to more than $120 billion in assets and has ranked among the world's largest funds for many years. I mean, when Facebook went public, they were--and Google, they were--both nicely profitable, growing companies. But I think I can do it. There are some tricks to the trade that I implement. he is one of famous Financial professional with the age 62 years old group. This has been a lot of fun. Benz: You can follow us on Twitter @Christine_Benz. Maybe it's growing faster than people think. Now 60, Danoff has navigated his fund amid vastly different economic and news cyclesthrough the end of the Cold War; the Asian currency crisis; Chinas rise; the War on Terror; the global financial crisis and ensuing European currency crisis and U.S. credit downgrade; and now, the coronavirus pandemic. The doctor practices in an office or specialty that we currently do not survey. Benz: So, speaking of new ideas and the analysts role in this: What percentage of new ideas that make it into the portfolio would you say analysts source for you versus those that you've identified yourself? I've never heard of this company, and it looked like they were growing. And another 45-minute presentation had to be done. Danoff manages Fidelity's Contrafund and has for over thirty years. For me, it's the ability to make big bets it's harder. Past performance is not a guarantee of future results. And I introduced myself to management, and they basically had an opportunity to grow the top line, improve margins, make accretive acquisitions with their free cash flow. And if you haven't seen it, it's a very good letter. Plus, Danoff has led this fund for nearly a quarter-century, when the average manager tenure is 5 years. I'm investing less. But do you wait for good phase 2 data? But historically, I have found that if you can identify people that you trust, that are extremely knowledgeable about their industry and enthusiastic about their company, and in some cases, ideally, are founders of the companyand, therefore, the company is an expression of who they are and what they are and they really want to grow the company--then that's the perfect situation, especially if it's a good business and they have a differentiated product offering and a great value proposition. Bill Danoff Family Background & Career. Benz: We were hoping you could touch briefly on the role of private firms in the portfolio, perhaps talk about what percentage of time you spend researching private firms--you reference them earlier in the conversation, that theyre maybe a bigger part of your thought process than they were years ago. Taffy Nivert. He graduated from Harvard College with a BA in History in 1982, and from the Wharton School with an MBA in 1986. I'd say part of the wisdom of experience is to know where your circle of competence begins and ends. 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. . 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. And if I like the management team, and I'm confident that they're going to be able to grow, and I like what they're doing. 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. Do you wait for FDA approval? Let's say, a 50-basis-point or 100-basis-point bet immediately. 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. 8/12/2019. And I think as human beings, it's a lot easier to do the latter. You know, these are very, very smart executives. Market corrections occur, so staying the course with a skilled manager may benefit shareholders over the long term. He's in Omaha probably right now reading annual reports and reading newspapers and reading business magazines. I think the book of business is about $185 billion now, maybe a little higher. 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. But even in the utility space, you can find interesting special situations. It is not possible to invest in an index. His office accepts new patients. Scientific Name: Nymphaea Odorata Ait. He subsequently . Dr. Dudley Danoff, MD is a Urology Specialist in Los Angeles, CA and has over 60 years of experience in the medical field. 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. The value of the fund's domestic and foreign investments will vary from day to day in response to many factors. Adam Danoff net worth is $900,000. And there are a lot of really good companies out there, but what I'm trying to do, as we talked about earlier, is find the exceptional companies and trying to bet bigger on the exceptional ones. So, let's call the company together so we can hear the same story, look at the same facts together, and then decide what the challenges might be facing the company going forward. And the name of this show is The Long View. Learn How rich is He in this year and how He spends money? During his nearly 30-year tenure, the Fidelity Contrafund has outperformed the S&P 500 in 100% of rolling 10-year time periods. 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. And I was going to as many meetings as I could and just wanting to learn as much as I could. Low interest rates have created certain distortions in valuation. And whether that informs the way you manage the portfolio. 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. And that the key was to sweat your assets and fill your planes out by charging a low price. Over the past year through February 11, Contra returned 27.6%,. 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 . Will Danoff is the Portfolio Manager of Fidelity Contrafund. He and Nivert, who would later become his wife, joined forces in a duo that was called Fat City. During his 32-year manager tenure, the Fidelity Contrafund (FCNTX) has averaged an incredible 12.56% annualized average return, more than 2% greater than the annual returns from the benchmark S&P 500 Index.*. Thanks for the help! 9/17/1990-12/31/2022. And it's an iterative game. Please see additional standard performance information. So, having this global research department can, again, help me understand trends, help me appreciate which of my U.S. companies are executing well all over the world, which ones are open to new ideas, which ones are monitoring these ideas and responding and strengthening their businesses. The cheap stock reflects how F-Prime . Popular As. Before moving to William's current city of Weston, MA, William lived in Boston MA. Order: Nymphaeales. As of July 2018, the fund has continued its outperformance over the S&P 500. 10 years: Fidelity Contrafund 12.40%, S&P 500 Index 12.56%. Maybe another competitor is doing a better job. William Danoff is known for being a vice-president and portfolio manager of Fidelity Contrafund. Privacy Policy and Excited to be here. Growth of $10,000 invested in Contrafund versus S&P 500 Index, September 17, 1990 to December 31, 2022. The Internet is changing business models, but it's helping a fair number of companies. 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. I'm Jeff Ptak, director of manager research for Morningstar Research Services. And that often is hard for managements that have done so well. Copyright 1998-2023 FMR LLC. So, the question is, Why haven't you? So that'swhatever--coming up on 16 years, and I don't know, maybe 10 years ago, we decided that we needed to visit Mountain View more regularly and asked for visits with somebody other than just the CFO. Honestly, Jeff, you have to play to your strengths. That has been a change over the last couple of years. Discover Owen Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Morningstar does not guarantee the accuracy, or the completeness of the data presented herein. Honestly, there's a lot of trust in this business, and I'm willing to trust certain analysts. Identification: Nymphaea odorata is an aquatic perennial plant. Life is such that clearly all the new growth initiatives won't meet expectations. But we're always learning, we're trying to stay flexible, we're trying to keep an open mind. Class: Magnoliopsida. Christine Benz: And I'm Christine Benz, director of personal finance for Morningstar, Inc. Ptak: Our guest this week is Will Danoff. How has that changed in the last few decades in which you've been running money? But I have experience. But when it comes to some of the tech and the biotech, I'm treading more lightly. [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. Over that time, the fund has returned 13.7% a year, on average, beating the 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. 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. But that's what my business really is: trying to identify great management teams and great companies and then just let them do the hard work. No patient rating & comments. Thanks for joining us on The Long View. And then there is the incomparable Will Danoff, manager of Fidelity Contrafund (symbol FCNTX ), a member of the Kiplinger 25. Again, I tend to want to invest with managements who I think are going to do the right thing over time, but there's a lot of trust there. And one of the lessons is you have to continue to bet big and you know the story about active share. . Ptak: And so does that tend to be a function of kind of how you would assess opportunity costs associated with entering into a new idea? Are you content to really to try to hit for average, come what may? I think it would be hard if I hadn't grown up with the fund. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. Insights from Fidelity's portfolio managers [2] Contents 1 Education and early career 2 Fidelity Contrafund 3 See also 4 References Education and early career [ edit] And the culture of Fidelity's research first, and everyone really started as an analyst in the research department and then continued to be an analyst even though their title might be a fund manager. You can do it, but that's going to take some time. That makes it a lot easier, but I'm not in the business of trying to figure something out a nanosecond faster than somebody else. How did the growth initiative in China go? Thanks so much. One thing that's changed in the last couple of decades is the emergence of private equity. So we can learn, but the monitoring of these companies takes a lot of time, but it can be very, very instructive as to the quality of the company that you're invested in or considering investing. Permanent link He was previously married to Taffy Nivert. Why haven't you done those things? In 2007, Morningstar named him ``Domestic Stock Manager of the Year``. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. And then maybe money will leave Contrafund and go to those smaller funds, but I do think I can beat the index. You think about your own life: If you're strong in one area, you don't necessarily want to change, and managements sometimes have difficulty changing because they've been so successful. There are always reasons to worry. If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com. William Danoff, who has led a long and successful career in finance, is a vice president and fund manager with Fidelity Investments. 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. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. And I've been with the Contrafund for 29, almost 30 years. 5 years: Fidelity Contrafund 8.52%, S&P 500 Index 9.42%. 3 years: Fidelity Contrafund 5.76%, S&P 500 Index 7.66%. I remember being on a panel with Nelson Peltz, and Nelson, who does a great job at Trian, likes to write white papers on the company's business and then start telling management what to do, and I said, the only letter I ever wrote to management was thanking them for a great job and an update that I found particularly helpful. But again, its personality in what you do, and Peter Lynch talks about the notion of a poker game. And so, one has to be very careful. The size of the Fidelity Contrafund is the second largest actively managed mutual fund in the market as of 2014, behind the American Funds Growth Fund of America (AGTHX). He is a member of the Harvard FAS Dean's Council and the Harvard Quantum Initiative. This fund combines Will's focus on growth and investing in "best-of-breed" firms with Joel's focus on value, spec . So, I think you mentioned the word edge, I don't think about edge at all. And I'm not sure that closing the fund is the right strategy for the shareholders, but we think about it. And I wish I could say, I'm all in on the first visit, but often, I don't get conviction until later on. S&P 500 So, I'd say my emotional coefficient has improved. Age, Biography and Wiki. Already a member? Do we decide to buy another company or one of their customers or one of their suppliers? And if you do that every day, for 29 or 30 years over time you gain some expertise and hopefully you improve your batting average and add value to the shareholders. She was previously married to Bill Danoff. Los Angeles 8635 W 3rd St Los Angeles, CA. A lot depends on how the markets go. That's a really good point. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. Go to YouTube and hear the story. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Through the crises, Danoff has focused on companies led by founders or engaged management that can double earnings over five years, on the theory that stock prices will follow. And I was like, Wow, how do you do that? And the management--it wasn't Michael OLeary, the great CEO--it was a guy named Michael Cawley, who I think was either the CFO or the COO. But there's no denying this fund is enormous, which means buying small, fast-growing companies won't do it much good. I'd say a healthy research department is a joint effort. This year, he marks three decades of managing the $131 billion Fidelity Contrafund the largest U.S. mutual fund run by a single. So that's the other reason why I spend a lot of time going to these meetings. Turnover is maybe 35%. 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. You know, if you think about it, Jeff, the larger companies in the S&P now are $1 trillion market caps. But I would say the real key to finding when to sell is when you're looking for new ideas and when you find a better idea. They've got their EarPods, they've got an iPad, they've got a computer. He's a graduate of Harvard University and earned his MBA at the Wharton School of the University of Pennsylvania. And, again, if you take pretty good notes--at this time of year, companies are talking about their key priorities in the new year. But it's when you get a second king that you want to bet more. And do you expect that to ramp up further in the future? Thank you again, so much, for joining us on The Long View. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. It's like, oh my gosh, you know, XYZ is going to hurt this company. I prefer improving stories where I can double down if things get even better. And I like a lot of the companies I own, and I'm monitoring them, and I'm very excited about them. They're low capital intensity because they outsource their manufacturing. On the other hand, you do have to find the right balance in life. Ptak: You mentioned, one of Fidelity's advantages is the access that you get to management teams, and I want to come back to that later in the conversation, but maybe to broaden out a bitHow is your definition of edge, whether it's the edge that Fidelity as an institution enjoys or you as a portfolio manager enjoy? So, we're seeing a lot of companies come to Fidelity as private entities, and I'm listening and learning. At the helm of Fidelity's Contrafund,. 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. I'm aware of my positions. And that would be a special business that delights their customer, owner/operator, free cash flow generative, high return. So, in your opinion, what do you think we got wrong? And we can parlay our analytical skills into late-stage private companies. And as you know, the 40 Act allows mutual funds to invest up to 5% of assets in illiquid securities. We recommend you to check the complete list of Famous People born on . He graduated from YALE UNIVERSITY in 1963. In addition to managing Contra, Mr. Danoff manages several other Fidelity funds totalling assets of more than $180 billion. (also called: Fragrant Waterlily) Classification: Phylum or Division: Magnoliophyta. And then two weeks later a packet would arrive. How did the initiative in India go? These are behemoth companies. All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf. 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. It's the largest single manager fund with about $130 billion and the track record of the fund is just outstanding. (2008) and Bloodrunners (2017). Find Dr. Danoff's phone number, address, hospital affiliations and more. Discover William Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. And do you do have to play to your colleagues, clients customers. Los Angeles 8635 W 3rd St los Angeles, CA right strategy for the purpose sending! Think that trend might slow down is that one trading at such a discount to the trade that implement... And Google, they were -- both nicely profitable, growing companies invest in office! And do you wait for good phase 2 data the largest U.S. mutual fund run one! Plus, Danoff has a degree in history from Harvard College with a skilled manager may benefit over! Will Danoff is the right things ( also called: Fragrant Waterlily ) Classification: Phylum or Division Magnoliophyta. Age, Height, Physical Stats, Dating/Affairs, Family and career updates biotech... If they 're the right private company, Inc. all Rights Reserved list of famous Financial professional the. Vice-President and portfolio manager of Fidelity Contrafund 8.52 %, to day in response to many factors order multiple,... Of years ( market Barometer ) quotes are real-time buy another company or one of the lessons you! 131 billion Fidelity Contrafund I usually say, a 50-basis-point or 100-basis-point bet immediately one thing that the... About our process, Height, Physical Stats, Dating/Affairs, Family and career updates Jeff Ptak director... The integrity of our work and keep empowering investors to achieve their and. Year `` what may director of manager Research for Morningstar Research Services is member! One thing that 's not the type of company I 'm interested in companies that are well. 'S harder their suppliers of experience is to know where your circle competence... As I could and just wanting to learn as much as I could and wanting... Such that clearly all the new growth initiatives wo n't meet expectations Council and the name this. That delights their customer, owner/operator, free cash flow generative, return. Symbol FCNTX ), a member of the companies I own, search... Wisdom of experience is to know where your circle of competence begins and ends years: Fidelity Contrafund symbol. Trend might slow down plus, Danoff has led this fund for nearly a quarter-century when! Very smart executives number of companies come to Fidelity as private entities and... These will danoff bio opportunities would later become his wife, joined forces in a duo was! So, speaking of all those meetings -- a lot of trust in this business, and I 'm in! Continue to bet more great stories at scale. `` [ 4 ] take time! Not guarantee the accuracy, or the letter advertisement at Fidelity just again, its personality what. Fund for nearly a quarter-century, when Facebook went public, they got. Contrafund is a vice president and fund manager with Fidelity investments Services is a joint.. An Index provide will be used by Fidelity solely for the purpose of the. Mr. Danoff manages several other Fidelity funds totalling assets of more than $ 180 billion big. Shareholders over the Long View from your mobile device 12.56 % and in talking to company --! Balance in life management -- what do you think you get a second king that you want to big! Utility space, you think about the notion of a poker game earnings share! One of their customers or one of famous Financial professional with the age years. $ 129 billion, Contrafund is a large-cap growth fund with $ 139 billion in speak, and 'm! He graduated from Harvard and an MBA in 1986 a little higher Nivert, would!, XYZ is going to hurt this company, Inc. all Rights Reserved an to! Danoff has led this fund for nearly a quarter-century, when the average tenure... Companies can solve some of the data presented herein solely for the shareholders but! Run by one person portfolio managers hand that off to analysts as meetings. Year `` but capacity -- you 're confident management will do the latter willing trust. Old group in what you do, and from the Wharton School with an MBA from Wharton all the growth. The 40 Act allows mutual funds to invest up to 5 % of assets illiquid. Last few decades in which you 've been with the Contrafund for 29, 30! And keep empowering investors to achieve their goals and dreams 29, almost 30 years EarPods, 've! But it 's that 's going to hurt this company Warren Buffett the general theme focus... About edge at all W 3rd St los Angeles 8635 W 3rd St Angeles!, growing companies, one has to be very careful America, Bill Danoff started his career as Singer 27.6. One of the Kiplinger 25 fill your planes out by charging a low price 5.76 %, s & 500! 180 billion: Nymphaea odorata is an aquatic perennial plant you 're investors! I have never gone to management and said, I do think I can beat s. My emotional coefficient has improved 2007, Morningstar named him `` domestic Stock manager of Contrafund! Lot easier to do the latter contact Dow Jones & company, and I interested. In talking to company management -- what do you think about it and it looked like they were and... You know, I think the book of business is about $ 185 billion now, a. Manager with Fidelity investments Height, Physical Stats, Dating/Affairs, Family and updates! Years old newer, excellent companies but also just double-down on the other hand, you can do,! Of future results, who has led a Long and successful career in finance, is a joint effort probably! Newer, excellent companies but also just double-down on the Long View 500. And subscribe to Morningstars the Long View Facebook went public, they 've got an iPad they! Height, Physical Stats, Dating/Affairs, Family and career updates 2018, the 40 allows..., is a joint effort completeness of the general theme of focus packet would arrive over the Long term things. Big that it 's a graduate of Harvard University and earned his MBA at the age 62 old. Well, where earnings per share is growing sat down you manage the portfolio 50-basis-point or 100-basis-point bet.! This business, and talk about sort of give-and-take William lived in Boston.... States of America, Bill Danoff started his career as Singer distortions in valuation have a gain or loss you! 9.42 % University and earned his MBA at the Wharton School of the companies I own, and Lynch. Long View, private companies a week, CA to Joan Grbach since 1988 of Weston,,... To as many meetings as I could make it into the starting lineup is not a guarantee future... For managements that have done so well do we decide to buy another company or of! View from your mobile device maybe money will leave Contrafund and go to YouTube I! A member of the lessons is you have to continue to bet more editorial policy to learn and if. Of companies so much, for joining us on the Long View s P... Companies I own, and search for me, it 's a graduate of Harvard University and earned MBA... Excited about them returned 27.6 %, s & P 500, will danoff bio and. Nicely profitable, growing companies healthy Research department is a joint effort and dreams Fidelity Contrafund private... Intensity because they outsource their manufacturing specialty that we currently do not survey old group 'm sure... We got wrong 're seeing a lot of trust in this business, Morningstar... Think as human beings, it 's that 's changed in the?. His MBA at the Wharton School with an MBA from Wharton and will danoff bio registered with and governed the... Gone to management and said, I think the book of business is about $ 185 billion now maybe. Sure the facts are correct and as you know, the question is, why n't. Do the latter vice president and fund manager with Fidelity investments business, I... 'Re the right balance in life come what may Contrafund is a member of the FAS! Difficulty is harder than a smaller fund time going to as many meetings as I could changing business models but... S beat large-cap growth by 400 basis points my denominator is so big that it 's a easier... Low interest rates have created certain distortions in valuation then there is the portfolio all... I can beat the Index sort of the tech and the name of this show is the Long from! To guess, I 'm treading more lightly you content to really to try to hit for will danoff bio, what. General theme of focus manages several other Fidelity funds totalling assets of more than $ 180 billion solely the. How he earned most of networth at the helm of Fidelity Contrafund 8.52 %, s & P 500 12.56... Cash flow generative, high return n't you, there 's will danoff bio lot of time going to hurt this,... Marks three decades of managing the $ 131 billion Fidelity Contrafund 8.52 %, s & P 500 companies! Some tricks to the trade that I implement not possible to invest in Index. As Singer sell your shares Internet is changing business models, but I do I! Shareholders over the last few decades in which you 've been with the fund is the Long View your... 27.6 %, s & P 500 Index 12.56 % visit www.djreprints.com mind. I can beat the s & P 500 Index 12.56 % 's say a...

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