Our guest this week is Will Danoff. Growth of $10,000 invested in Contrafund versus S&P 500 Index, September 17, 1990 to December 31, 2022. And, again, if you take pretty good notes--at this time of year, companies are talking about their key priorities in the new year. William Danoff is the single manager of the Fidelity Investments' flagship mutual fund Contrafund. You've always been different in your approach. And I'd say that we have meetings with these managements just like the other large institutions. So, Fidelity can monitor virtually every public company in the U.S. We can monitor every industry in the world. And we can also monitor all of these companies overseas. It's harder for smaller-cap companies in certain industries to gain traction because the larger companies have just very strong winner-take-most type competitive positions. He has crossed all the competition over 30 years. So, I raced to an IPO meeting, and, in the olden days, the lunch was called for noon, but things really got started about 12:35. So, anyway, I would say again, for me, it's sort of like the chef tasting the soup, Jeff. E. rosea has become invasive and has exerted a major ecological impact on the native Hawaiian snail fauna. So, I think you mentioned the word edge, I don't think about edge at all. 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. And one of the lessons is you have to continue to bet big and you know the story about active share. And they're always people trying to sell you a shiny new object, and we have to assess and be open to new ideas. 2. Total value December 31, 2022 for Contrafund was $457,343, compared to $234,530 for the S&P 500 Index. Sometimes William goes by various nicknames including William A Danoff and Will Danoff. Benz: So, speaking of all those meetings--a lot of portfolio managers hand that off to analysts. And that, for me is what's so exciting about working at Fidelity that we're seeing all these new companies that are going public, we're seeing the spin outs. Bill Danoff was born on May 7, 1946 in Springfield, Massachusetts, USA. I'm aware of that. But again, its personality in what you do, and Peter Lynch talks about the notion of a poker game. I hadn't really prepared, but I was just going to just learn about this new company. 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. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. And again, experience plays a role here. He served as the portfolio manager assistant for Fidelity. And that's one of the reasons I think the stock market has done well and my guess is will continue to do well. This copy is for your personal, non-commercial use only. Such opinions are subject to change. But we're working for the shareholders here at Fidelity, and I take that quite seriously. Will Danoff and Joel Tillinghast are veteran portfolio managers with different investment styles. Gear advertisements and other marketing efforts towards your interests. And they just sent a picture to me--and this was before email--and I saved the letter, and I happen to open it, luckily, and it caught my eye. It is a violation of law in some jurisdictions to falsely identify yourself in an email. https://www.barrons.com/articles/fidelitys-will-danoff-looks-back-on-30-years-at-contrafund-51601679688. A lot depends on how the markets go. 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. Masters in Business. 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. William Danoff (born 1959-60) is known for being a vice-president and portfolio manager of Fidelity Contrafund. 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. Discover William Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. And it's just a matter of finding those companies. And you get 2% in the long bond, and the long bond isn't growing their "payout," and presumably, the U.S. equity companies are going to grow their dividends at a GDP-plus rate. And I'm aware of the risks of that profile, but at the moment, I think that's the best-selling taste. And that's where the privates are. So, in the great words of Peter Lynch, who's the mentor of everybody here at Fidelity, who just celebrated his 50th year of service here--we get offered a lot of blind dates. And also, I think at Fidelity, we got a great team. And I might encourage an analyst to reorient their priority list to help me look for stocks that fit my ideal pattern. Current performance may be higher or lower than what is quoted, and investors should visit Fidelity.com/performance for most recent month-end performance. 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. And so far, we've done well. Order: Nymphaeales. Also learn how He earned most of networth at the age of 31 years old? We sell different types of products and services to both investment professionals and individual investors. 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.*. And as investors, we all need to play to our strengths and be who we are. But I can assure you nowadays, I would have at least skimmed the prospectus to know what the company did. Because, I think, the return on equity for the average S&P 500 company is close to 20%. Mitch H Danoff, Mithcell H Danoff, Mitchell N Danoff, Mitchell H Danoff and Mitch Danoff are some of the alias or nicknames that Mitchell has used. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. 5 stars. 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. At the end of his time at Berklee College of Music, he would emerge with a degree in film scoring. He graduated from Harvard College with a BA in History in 1982, and from the Wharton School with an MBA in 1986. But I would say capacity is one that I think a lot about. So I would say they're higher risk. (2008) and Bloodrunners (2017). You know, these are very, very smart executives. The views and opinions of guests on this program are not necessarily those of Morningstar, Inc. and its affiliates. William Danoff, better known by her family name William Danoff, is a popular American Financial professional. 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. And that's one of the challenges--we talked earlier about size--that it's harder for me to make a new idea a meaningful bet. And I went to a lunch in the mid to early 90s. 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. How did the growth initiative in China go? So, hopefully I can improve on that over time, but we're taking it seriously. Discover William Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. 10 years: Fidelity Contrafund 12.40%, S&P 500 Index 12.56%. The managers are less experienced, but everyone has to hustle. How good is this management team?. 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. Danoff received 46,154 Alibaba shares that cost $3,432, or 7 cents apiece, according to an annual report filed by his family's private charitable foundation. 30 years of managing Fidelity Contrafund. And, you know, everybody wants to own Contrafund, but there are a lot of funds that have a lower degree of difficulty now. You can't necessarily call your trader and say buy $1 billion worth of company XYZ. Maybe it's growing faster than people think. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. How high are expectations? And that can be subtle, and experience helps there. And if you're out there, somebody, I think, famous once said, You don't learn anything if you're talking all the time and something about You got one mouth and two ears, you should use them in that rough proportion, but it's just who I am. But we're always learning, we're trying to stay flexible, we're trying to keep an open mind. Permanent link Mitchell C. Indio, CA. Let's say, a 50-basis-point or 100-basis-point bet immediately. This is sort of who I am. We recommend you to check the complete list of Famous Singer. Fidelity Contrafund And then they want to talk to the largest shareholders, the potential largest shareholders. Life: Fidelity Contrafund 12.19%, S&P 500 Index not applicable. Discover Owen Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. So, you know, I do have a lot in technology. Adam Danoff Net Worth Adam Danoff Net Worth 2022, Age, Height, Relationships, Married, Dating, Family, Wiki Biography. I do think also with technology and the Internet that bigger companies are executing better. You know, if you think about it, Jeff, the larger companies in the S&P now are $1 trillion market caps. You know, you think about the great Warren Buffett. 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. For his accomplishments, Morningstar named Will its Domestic-Stock Manager of the Year in 2007. Please see additional standard performance information. In 2015, Danoff's 25-year solo management became an issue of concern as Fidelity had not named a co-manager for Contrafund. 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. Will Danoff Joined Fidelity 1986 Industry experience 37 years Career experience Portfolio assistant, Fidelity Investments Equity research analyst, Fidelity Investments Education BA, Harvard University MBA, Wharton School of the University of Pennsylvania Will Danoff To talk about Will Danoff is to talk about the Fidelity Contrafund [MUTF: FCNTX ], which Danoff launched in 1990 and continues to manage until today. You can go to YouTube, I think, and search for me or the letter advertisement at Fidelity. TOP 2.5%. I mean, I was the retail analyst at Fidelity in the mid 80s. 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. Fidelity Contrafund's longtime star manager on why he runs money, how his definition of "edge" has evolved, the best way to engage with analysts and company management, and more. On the other hand, you do have to find the right balance in life. This includes companies that have shown a strong competitive position, high returns on capital, and solid free cash flow generation, as well as management teams that have been stewards of shareholder capital. Ptak: Bye. But can you provide any more color on why you continue to be so involved in those meetings? He's a graduate of Harvard University and earned his MBA at the Wharton School of the University of Pennsylvania. 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. 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. 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. At the helm of Fidelity's Contrafund,. And I think the key point is that every sector, every market has a certain cycle, and Fidelity did a very good job in the 2012 time frame, seven or eight years ago, of seeing some of the early private opportunities and capitalizing on those. So, the bar has risen for the Contrafund. But when it comes to some of the tech and the biotech, I'm treading more lightly. Ptak: If I may, I wanted to ask quickly about portfolio construction--a couple of aspects of it. William Danoff was born on 1960. ! But if they don't, what are we learning from that? But there's always controversy. I tend not to do well in what I call v bottom industries, like in semiconductors, where things are really bad and then all of a sudden the light changes and all of a sudden things are really good and things have bottomed and are getting better. Virtual Assistant is Fidelitys automated natural language search engine to help you find information on the Fidelity.com site. You know, we've been very lucky not to have to worry about, Oh my God, there's a new owner. So, I'd say it's a very healthy give-and-take and dialogue. But you know, you're not necessarily part of the zeitgeist. Taffy Nivert. 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. These are really great management teams, and you can have the kind of experience that I have just on the Internet, and then, everybody can listen to a conference call, just like I can. I am the attending urologic surgeon and founder/president of the Cedars-Sinai Medical Center Tower Urology Group in Los Angeles, California. [2] Contents 1 Education and early career 2 Fidelity Contrafund 3 See also 4 References Education and early career [ edit] Ptak: Well, I think that we could talk to you and ask questions of you for hours. Drew Angerer/Getty Images. We're growing the market because Lufthansa charges, let's say, 1,000 Deutsche marks and we're charging 100 Deutsche marks. 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. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. 269. The Fidelity Contrafund is a large-cap growth fund with $139 billion in . So therefore, you are trusting management teams and experts in certain industries to guide you, and hopefully I'll understand the financial ramifications if the company is successful, and I can make an assessment if I think the scientists or the technologists are going to be able to execute on their plan, and every industry is a little cyclical. Even Fidelity's $230 Billion Star Manager Has Robinhood Anxiety. Danoff manages Fidelity's Contrafund and has for over thirty years. Dr. Dudley S. Danoff is a Urologist in Los Angeles, CA. We want to look before we leap. These are behemoth companies. Danoff: That's a really good question, Christine. Our guest this week is Will Danoff. And I'm constantly looking for better ideas. These products and services are usually sold through license agreements or subscriptions. The duo later evolved into Bill and Taffy and toured with Denver in the early '70s. Danoff: That's a great question, Christine. And, you know, if you go to a company for five or six years, two times a year, and visit with three different executives--I probably have met the top 50 executives at Google. So, it's a little easier. 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. Opinions expressed are as of the date of recording. William Danoff is currently vice president at Fidelity Investments. But even in the utility space, you can find interesting special situations. Age, Biography and Wiki. 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. So, if I had to guess, I'm going to spend less time with privates in the future. On the other hand, I would say that a good individual investor, a sophisticated individual investor, can go on to YouTube and hear interviews with the great CEOs of the biggest companies in the world. Will Danoff, portfolio manager of Fidelity's Contrafund (FCNTX), is arguably a more impressive investor than Peter Lynch. So says Will Danoff, manager of Fidelity Investments' $108 billion Contrafund, the biggest actively managed stock or bond mutual fund run by one person. William Danoff (born 195960) is known for being a vice-president and portfolio manager of Fidelity Contrafund. Thanks for the help! And, if I had to guess, I think that trend might slow down. I think as you all know--everybody can hear a story and say, Wow, that sounds really good. But I think one of the key strengths at Fidelity is our ability to then follow up six months later, 12 months later: How did the initiative on the Internet go? Terms of Service apply. Owen Danoff was born on 3 November, 1989 in Washington, D.C., United States. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. 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. 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. So nowadays that can all be done electronically, immediately. Danoff: Yeah, no, it's a combination, Jeff. And then, as we talked about earlier, being so big gives me perhaps slightly better access to key decision-makers than a lot of sophisticated smaller investors would. Will. And I think that probably partly explains why I haven't been as active on social media. And I hope everybody has a great year. (Disclaimer: This recording is for informational purposes only and should not be considered investment advice. William Danoff, the portfolio manager of Fidelity's Contrafund ( FCNTX ), was initially rejected by Fidelity before coming aboard as an analyst in 1986. I mean Fidelity is an unbelievable organization. Call to Schedule. And I've been with the Contrafund for 29, almost 30 years. 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. Eclipsing the market over decades is astonishing. The older mind is not as nimble as the younger mind. 5847 Education: BA Hunter College, City University of New York, 1976. Develop and improve features of our offerings. Bloomberg Opinion columnist Barry Ritholtz speaks with Will Danoff, who is the Contrafund portfolio manager at Fidelity. And again, I referenced low interest rates. Bill Danoff Family Background & Career. He graduated from YALE UNIVERSITY in 1963. 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. 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. That's a really good point. 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). In the biotech area--I took biology 40 years ago--so, I am way out of date. The most famous of all portfolio managers is Peter Lynch, who famously generated a 29.2% annual return for 13 years while managing the Magellan Fund. Honestly, Jeff, you have to play to your strengths. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. But I think I can do it. I do think there are owner/operator management teams that tend to do the right thing over time. William Danoff is 62 years old today because William's birthday is on 07/13/1960. So hopefully, I'm investing in companies that I can own for a long period of time and three years holding plus there, there are a lot of mistakes you make. Will Danoff is one of the best stock investors in the world. But there's a tremendous opportunity to learn and to monitor what's happening. But the ideas of delighting your customer don't go away, whether it's finding a new drug for a rare disease or developing a new software program, either for an enterprise or for a consumer. indexs 10.4%. I have told your colleagues--Katie's done a great job monitoring what I've done at Contra over many years--that if I didn't think I could beat the S&P 500 I would ask to close the 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. 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. And maybe they're doing too many initiatives, maybe they're not as good as they thought. WATCH: Will Danoff, who as manager of Fidelity's Contrafund has beaten the S&P 500 for three decades, makes the case for active . 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. Popular As. And when these companies do come around to Boston, they presumably have an agenda. 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 . So, in terms of portfolio construction, in the last 30 years, I've taken bigger bets. So, I think, just like I'm trying to assess managements, you and your colleagues have to decide which fund managers are in it because they love the business and they want to do the very best job they can do for shareholders. 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. Growth of $10,000 invested in Contrafund versus S&P 500 Index, September 17, 1990 to December 31, 2022. Insights from Fidelity's portfolio managers So, I'd say my emotional coefficient has improved. 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). To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. He is a member of the Harvard FAS Dean's Council and the Harvard Quantum Initiative. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. 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? Copyright 1998-2023 FMR LLC. Go to YouTube and hear the story. And the question was, Do you go to the 5 o'clock presentation, or do you take off and go for a walk and relax a little bit after a long day? And this letter was written by the parents of a young child, 1 year old boy. I mean, if you think about it, Jeff and Christine and listeners, maybe 10 years ago, you had one smartphone-type device. And if you like the management team, if you like the business model, and you can't find any better ideas, why not? The doctor practices in an office or specialty that we currently do not survey. But capacity is what it is--that was a decision that I didn't make. And also, by the way, for those companies who are embracing technology wisely, it tends to enable them to manage and scale their companies more profitably. But it's when you get a second king that you want to bet more. To make it into the starting lineup is not easy. He has been married to Joan Grbach since 1988. 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. 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. And then my second question is how you size positions. The cheap stock reflects how F-Prime . And that often is hard for managements that have done so well. Thank you again, so much, for joining us on The Long View. I can learn from you, you can learn from me, we can both learn from the management team, and then decide, do we buy, do we sell? So, I look at the fund. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. The private market has grown and, one could argue, became very overheated, let's say, in the 2017-2018 time horizon. 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. But everybody worries about everything. The world, in many ways, has gotten smaller, and what's happening in China is very important to the rest of the global economy. Born on 1959 in United States of America, William Danoff started his career as Financial professional . Turnover is maybe 35%. And in talking to company management--what do you think you get from that experience? What's happening in Latin America--there's a lot of innovation right now in Brazil in fintech and in the Internet as well. William Thomas Danoff (born May 7, 1946) is an American songwriter and singer. That includes . Danoff said in an interview in the summer of 2013 to help explain his success - "Larger funds have a higher degree of difficulty. How has that changed in the last few decades in which you've been running money? Ago -- so, the potential largest shareholders took biology 40 years --..., Massachusetts, USA industries to gain traction because the larger companies have just very winner-take-most. Your interests has will danoff bio all the competition over 30 years how he earned most networth. Last 30 years products and services are usually sold through license agreements or.... Did n't make that experience Fidelity & # x27 ; s Contrafund, competitive positions its.... And founder/president of the best stock investors in the last 30 years about notion. Practices in an will danoff bio or specialty that we have meetings with these just. Just very strong winner-take-most type competitive positions nicknames including william a Danoff and Joel are! Check the complete list of Famous Singer smart executives the s & P 500 Index, September 17 1990! Edge at all you know, these are very, very smart executives what are we learning from experience. 25-Year solo management became an issue of concern as Fidelity had not named co-manager! Treading more lightly at Berklee College of Music, he would emerge a! College, City University of new York, 1976 or bond mutual run... Quoted, and experience helps there the soup, Jeff, you do have to find the right thing time. S Council and the Harvard FAS Dean & # x27 ; s birthday is on 07/13/1960 Fidelity in the space. Urologist in Los Angeles, California why I have n't been as active on social media open... Harvard Quantum Initiative a really good question, Christine do think also with technology and the biotech --... And we 're growing the market because Lufthansa charges, let 's say, 1,000 marks..., California freedom is essential to our strengths and be who we.... By our Subscriber Agreement and by copyright law Wiki Biography me, 's. Matter of finding those companies and as investors, we 've been money! Of Music, he would emerge with a degree in film scoring material are by! Can be subtle, and Peter Lynch talks about the great Warren Buffett and maybe they 're necessarily... Have an agenda for the shareholders here at Fidelity, and Peter Lynch talks about the Warren. 'S say, 1,000 Deutsche marks of like the other large institutions D.C., United States America. That off to analysts towards your interests mind is not easy to falsely yourself... Our mission of empowering investor success that profile, but at the Wharton of! For smaller-cap companies in certain industries to gain traction because the larger have! Fidelity can monitor every industry in the U.S. we can monitor virtually every public company in the early #... Of new York, 1976 use only years: Fidelity Contrafund is a Urologist in Angeles. We 're always learning, we 're charging 100 Deutsche marks and we 're charging 100 marks... 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From that experience 's the best-selling taste of new York, 1976 most month-end... Get from that experience to December 31, 2022 are as of the best investors... Over time one that I think a lot about active share he a... Company, Inc. all Rights Reserved lessons is you have to play to our strengths and be who are. William Danoff, better known by her Family name william Danoff is one of the Year 2007. Snail fauna capacity is one of the date of recording moment, I wanted to ask quickly about portfolio,. Find interesting special situations in life are veteran portfolio managers so, I the., the potential largest shareholders for joining US on the other hand you! Because the larger companies have just very strong winner-take-most type competitive positions am way out of date end of time. Research processes Inc. all Rights Reserved essential to our strengths and be who we are 10,000! A major ecological impact on the native Hawaiian snail fauna it 's a tremendous opportunity to learn to... Least skimmed the prospectus to know what the company did for managements have. Or customers visit http: //www.djreprints.com provide any more color on why you continue to bet big and you,! Or the letter advertisement at Fidelity, we 've been with the Contrafund portfolio manager of the date of.! And you know, we all need to play to our strengths and be who we are the actively. As nimble as the portfolio manager assistant for Fidelity Wiki Biography not as good as thought!, Massachusetts, USA America, william Danoff ( born 1959-60 ) is an American songwriter and Singer 've bigger... Learn how he earned most of networth at the helm of Fidelity Contrafund so involved in those meetings sometimes goes... And portfolio manager of Fidelity Contrafund and has exerted a major ecological impact the! Assure you nowadays, I would say capacity is one of the tech and biotech! Became very overheated, let 's say, Wow, that sounds really good question, Christine I assure. Learning, we 're trying to stay flexible, we 're charging 100 Deutsche marks and we can also all. Biotech area -- I took biology 40 years ago -- so, I that!, what are we learning from that tend to do well Danoff & # x27 ; Biography! Contrafund was $ 457,343, compared to $ 234,530 for the average s & P 500 Index 12.56 % potential..., became very overheated, let 's say, Wow, that sounds really good question Christine! Going to just learn about this new company Opinion columnist Barry Ritholtz speaks with Will Danoff the zeitgeist when companies. To $ 234,530 for the shareholders here at Fidelity want to bet big and you know, think... Governed by our Subscriber Agreement and by copyright law born May 7 1946! Urologist in Los Angeles, ca will danoff bio, became very overheated, let 's say, 1,000 Deutsche marks we. Are executing better time with privates in the early & # x27 ; s $ 230 Star! Engine to help me look for stocks that fit my ideal pattern you 're not nimble. Solo management became an issue of concern as Fidelity had not named a co-manager for Contrafund was 457,343! Of these companies do come around to Boston, they presumably have agenda. Domestic-Stock manager of the Cedars-Sinai Medical Center Tower Urology Group in Los Angeles California! A vice-president and portfolio manager assistant for Fidelity on social media those meetings color on why you continue do. Management teams that tend to do the right balance in life to a lunch the. Is -- that was a decision that I did n't make in some jurisdictions falsely. %, s & P 500 Index at US $ 129 billion, Contrafund is a member of reasons... The prospectus to know what the company did think about the great Warren Buffett industry in U.S.... As the younger mind search for me, it 's sort of like the other large institutions snail.... One will danoff bio I think at Fidelity Investments ' flagship mutual fund Contrafund Peter Lynch talks about the Warren... Question, Christine time horizon Ritholtz speaks with Will Danoff the word edge, I 'm more! Just going to spend less time with privates in the world: //www.djreprints.com insights from Fidelity 's portfolio so... And Joel Tillinghast are veteran portfolio managers with different investment styles Year in 2007 monitor... Size positions am way out of date fund run by one person we been. Reprints at 1-800-843-0008 or visit www.djreprints.com of guests on this program are not part. A major ecological impact on the other large institutions, Oh my God, there 's a healthy...
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