And, as you know, there were constraints on when you can book and only one class and no free food and all that stuff. And, over the last couple of years, we've all learned that they're riskier than perhaps people thought. So that's the other reason why I spend a lot of time going to these meetings. Provide specific products and services to you, such as portfolio management or data aggregation. Past performance is not a guarantee of future results. 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. Finally, we'd love to get your feedback. I mean, you can see Tim Cook giving commencement addresses, you can see Mark Zuckerberg being interviewed, you can see Jeff Bezos being interviewed. 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. Information that you input is not stored or reviewed for any purpose other than to provide search results. Taffy Nivert. There are obviously trade-offs. 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 Danoff: Thanks, Jeff. 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. (2008) and Bloodrunners (2017). Performance data shown represents past performance and is no guarantee of future results. At US$129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. I think the key to being a great investor is being open to new ideas, learning from new ideas, and finding that right balance between waiting for the right moment. And that's one way to improve your understanding of important trends that important companies like Google are seeing and then assess the quality of the management below just the CFO or the CEO. Excited to be here. Read our editorial policy to learn more about our process. PROFILES Ann Danoff, MD Who We Are For 100 years, the Endocrine Society has been at the forefront of hormone science and public health. Will Danoff32 years 9/17/1990-12/31/2022 On average, the Fidelity Contrafund has beaten the S&P 500 Index by 2.31% per year. 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. The cheap stock reflects how F-Prime . Beating the market isn't easy. But when per-share earnings, per share free cash flow is growing, then I've got a lot of time. Scientific Name: Nymphaea Odorata Ait. Technology has become a bigger and bigger part of everybody's life. 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 . TOP 2.5%. 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. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. The duo later evolved into Bill and Taffy and toured with Denver in the early '70s. The doctor practices in an office or specialty that we currently do not survey. William Danoff (born 1959-60) is a vice-president and portfolio manager of Fidelity Contrafund, since 1990. And I like a lot of the companies I own, and I'm monitoring them, and I'm very excited about them. Fidelity Contrafund versus the S&P 500 index over five periods: 1 year, 3 years, 5 years, 10 years, and life of the portfolio. But again, its personality in what you do, and Peter Lynch talks about the notion of a poker game. Global Nav Open Menu Global Nav Close Menu; Apple; Shopping Bag + Search apple.com. Verify your identity, personalize the content you receive, or create and administer your account. And we talked about the long view. Ptak: Bye. Investment return and principal value will fluctuate, so investors may have a gain or loss when shares are sold. Benz: You can follow us on Twitter @Christine_Benz. Sometimes William goes by various nicknames including William A Danoff and Will Danoff. And again, private companies are an opportunity to learn and, if they're the right private company, an opportunity to invest. On the other hand, you do have to find the right balance in life. 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. And again, I referenced low interest rates. Low interest rates have created certain distortions in valuation. 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. 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. I have to explain that I've become a little stodgy in my old age. Growth of $10,000 invested in Contrafund versus S&P 500 Index, September 17, 1990 to December 31, 2022. 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. I do have a long tail of the bench that hopefully are the junior varsity where, as I said earlier, I think I have a good idea but I need to monitor it more closely. And I introduced myself to the person to my left, who turned out to be the CEO of the company. How high are expectations? Will Danoff is one of the best stock investors in the world. Order: Nymphaeales. 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. 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. Life is such that clearly all the new growth initiatives won't meet expectations. We're thrilled to have him as our guest. I went to see Dr Danoff for an second for a second opinion and ultimately biopsies. 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. 8/12/2019. So, you know, I do have a lot in technology. So, I try to stay within my own circle of competence. That has been a change over the last couple of years. And I'd say try and stay optimistic. 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. The managers are less experienced, but everyone has to hustle. And I've been with the Contrafund for 29, almost 30 years. And I'd say that we have meetings with these managements just like the other large institutions. People ask a lot about when do you sell a stock--and you sell a stock when the earnings growth slows, often due to intensified competition. 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. Ptak: Well, I think that we could talk to you and ask questions of you for hours. Individuals should seriously consider if an investment is suitable for them by referencing their own financial position, investment objectives and risk profile before making any investment decision.). Honestly, Jeff, you have to play to your strengths. Ptak: If I may, I wanted to ask quickly about portfolio construction--a couple of aspects of it. The band recorded for John Denver's Windsong label. Adam Danoff Wiki: Salary, Married, Wedding, Spouse, Family Adam Danoff is an actor and producer, known for Bloodlust Zombies (2011), Punch-Out!! He is an actor, known for Kingsman: The Golden Circle (2017), Good Will Hunting (1997) and Alien: Covenant (2017). Danoff said in an interview in the summer of 2013 to help explain his success - "Larger funds have a higher degree of difficulty. I think one of the huge competitive advantages Fidelity has is our access to managements and access at important inflection points. As with any search engine, we ask that you not input personal or account information. 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. You've always been different in your approach. [1] He is known for " Afternoon Delight ", which he wrote and performed as a member of the Starland Vocal Band, and for writing multiple hits for John Denver, including "Take Me Home, Country Roads". Thanks for the help! 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. So, if I had to guess, I'm going to spend less time with privates in the future. And that it's really hard to know that you're going to win the hand when everybody only has two cards. He subsequently . The world, in many ways, has gotten smaller, and what's happening in China is very important to the rest of the global economy. 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. But there's no denying this fund is enormous, which means buying small, fast-growing companies won't do it much good. When he was just 15 years old, he created his first original song and produced it on his own. William Danoff, better known by her family name William Danoff, is a popular American Financial professional. So I would say they're higher risk. 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. Will Danoff has been the fund manager of the Contrafund at Fidelity investments since 1990. And the thought process was, Well, we have industry expertise, we have company expertise. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. Turnover is maybe 35%. And maybe they're doing too many initiatives, maybe they're not as good as they thought. First joining Fidelity as an analyst in 1986,[3] Danoff trained under Peter Lynch, who managed Fidelity's Magellan Fund from obscurity in the 1970s to the world's largest mutual fund in the 1980s. This is sort of who I am. But I can assure you nowadays, I would have at least skimmed the prospectus to know what the company did. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. Among these three, only. We're seeing the new management teams when they come to Boston to tell us how excited they are to take over the company, and finding new ideas then raises the bar for your existing positions. You can't always assume that managements going to do the right thing. 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. A lot depends on how the markets go. 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. https://www.barrons.com/articles/fidelitys-will-danoff-looks-back-on-30-years-at-contrafund-51601679688. 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. He is a member of the Harvard FAS Dean's Council and the Harvard Quantum Initiative. Joel Tillinghast, who's the great manager of the Low-Priced Stock fund, and I have done very well here at Fidelity. 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 then two weeks later a packet would arrive. 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. Total value December 31, 2022 for Contrafund was $457,343, compared to $234,530 for the S&P 500 Index. Discover William Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. You can't necessarily call your trader and say buy $1 billion worth of company XYZ. What are we thinking about management? All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf. 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. At the end of his time at Berklee College of Music, he would emerge with a degree in film scoring. You do run a lot of money--I think over $100 billion in assets as of last year across the different strategies that you're responsible for, the largest of which is Contrafund. 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. He's beat large-cap growth by 400 basis points. 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. 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. A native of Long Island, Dr. Danoff graduated from the University of Pennsylvania School of Engineering and Applied Sciences with a degree in biomedical engineering. Over the past year through February 11, Contra returned 27.6%,. 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. On average, the Fidelity Contrafund has beaten the S&P 500 Index by 2.31% per year. 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. The older mind is not as nimble as the younger mind. Identification: Nymphaea odorata is an aquatic perennial plant. But can you provide any more color on why you continue to be so involved in those meetings? Market corrections occur, so staying the course with a skilled manager may benefit shareholders over the long term. Timely insights from Fidelitys portfolio managers and analysts on navigating volatility and long-term investing. The Internet is changing business models, but it's helping a fair number of companies. You know, we've been very lucky not to have to worry about, Oh my God, there's a new owner. These are behemoth companies. But how often, if ever, do you get involved with giving management your opinion about what you think they ought to do? William Thomas Danoff (born May 7, 1946) is an American songwriter and singer. I mean, 100 basis points on $185 billion is $1.8 billion investment--that's hard to do quickly if you think about it. 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. Surgical Oncology, Urology 310-854-9898 Fax: 310-854-0267. Even Fidelity's $230 Billion Star Manager Has Robinhood Anxiety. 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? You can go to YouTube, I think, and search for me or the letter advertisement at Fidelity. And we can also monitor all of these companies overseas. 5 stars. Soundtrack: Kingsman: The Golden Circle. 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. And as investors, we all need to play to our strengths and be who we are. A letter from Dr. Danoff to readers: My name is Dr. Dudley Danoff. Adam Danoff net worth is $900,000. 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. 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. 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 . The views and opinions of guests on this program are not necessarily those of Morningstar, Inc. and its affiliates. And there are all sorts of companies that have had multiple owners. And I said, I have to go to this presentation. Sep 19, 2020, 5:13 AM. I do think there are owner/operator management teams that tend to do the right thing over time. Fidelity does not provide legal or tax advice, and the information provided is general in nature and should not be considered legal or tax advice. So I ran into at about 12:35, and there was an empty seat, and I sat down. Danoff: That's a great question, Christine. This copy is for your personal, non-commercial use only. William Danoff is known for being a vice-president and portfolio manager of Fidelity Contrafund. And I only knew the name of the company. MD The Medical College of Pennsylvania, 1980. 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. 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. So, I don't know that many great investors who aren't great analysts. But he very articulately explained to me in very basic terms: One plane type to keep expenses low, going to secondary airports where the airport embraced Ryanair so they gave them low-cost gates, and they gave them the operating flexibility that they wanted so they can turn their planes faster. Clearly, there is survivor bias in the S&P 500, so it is hard to add value over time. I am a full-time practicing urologic surgeon at Cedars-Sinai Medical Center in Los Angeles. Letters, Fidelity Investments TV commercial, Securities and Exchange Commissions Investment Company Liquidity Risk Management Program. Class: Magnoliopsida. So, in your opinion, what do you think we got wrong? In 2015, Danoff's 25-year solo management became an issue of concern as Fidelity had not named a co-manager for Contrafund. Such opinions are subject to change. Consistently outperforming the market is very hard. How did the new acquisition in Europe go? 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 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. Will Danoff is the Portfolio Manager of Fidelity Contrafund. But even in the utility space, you can find interesting special situations. And I've added value relative to the index. But everybody worries about everything. And ideally you're asking good questions to learn as much as possible about an industry, about that particular company, and about that particular executive. Already a member? And, if I had to guess, I think that trend might slow down. You know, what I tell the team is, When in doubt, let's call the company. And again, as a large shareholder, I have that opportunity to just call the company, or the Fidelity systems are good that I can pull up every weekend the research notes that have been written on my top 50 positions, and the top 50 might be 65% of the fund. How has that changed in the last few decades in which you've been running money? Bill Danoff was born on May 7, 1946 in Springfield, Massachusetts, USA. When you look back over a 20-year time horizon, you just see a pattern that you want to replicate going forward. I do feel, honestly, Christine and Jeff, that a large fund can only do so well and that smaller funds may do better than I do. I mean, if you think about it, Jeff and Christine and listeners, maybe 10 years ago, you had one smartphone-type device. Since he took over on Sept. 17, 1990 . 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. The subject line of the email you send will be "Fidelity.com: ", Will is dedicated to the long-term benefits of active management. The chart above illustrates the performance of a hypothetical $10,000 investment made in the fund and a benchmark during managers tenure. Our guest this week is Will Danoff. And this letter was written by the parents of a young child, 1 year old boy. Will Danoff is one of the best stock investors in the world. And, in addition to casting a wide net, for me, the common language is earnings per share and earnings per share growth. 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. Maybe it's growing faster than people think. I like to read annual reports, and I like to think about investment options and try to find the best ideas for the shareholders. 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. During his nearly 30-year tenure, the Fidelity Contrafund has outperformed the S&P 500 in 100% of rolling 10-year time periods. What are you doing to grow your company's earnings per share? And if it is, I tend to go to a meeting or two--probably go to more meetings--because I say maybe I'll learn something by going to a meeting. I'm aware of my positions. And I think 150,000 people went to the conference over a week in San Francisco, and I was just blown away by the enthusiasm of the employees and the customers, and that can be priceless in terms of your appreciation of the strength of a franchise. 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. 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 has crossed all the competition over 30 years. And, again, this is an iterative process. Owen Danoff was born on 3 November, 1989 in Washington, D.C., United States. I just feel more comfortable with the idea of touching and feeling, interviewing management, trying ideally to go to as many company presentations or user conferences. And that certainly has been a modest change in the life of a mutual fund manager and a change in the mutual fund industry in the last decade or so. Investments in foreign securities involve greater risk than U.S. investments. And the name of this show is The Long View. And Danoff "doesn't exhibit any signs of weariness or burnout," says Lowell. Thanks so much. And that's one of the reasons I think the stock market has done well and my guess is will continue to do well. Mitchell C. Indio, CA. This chart is not intended to imply any future performance of the investment product. She was previously married to Bill Danoff. 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. Do you wait for FDA approval? This site is protected by reCAPTCHA and the Google [2] Early life and education [ edit] I think the book of business is about $185 billion now, maybe a little higher. Drew Angerer/Getty Images. They have one child. And I don't want it to fall by the wayside. I think about trying to understand the facts, trying to use my accumulated industry and company knowledge to anticipate the future. If management asks once in a while about buybacks versus dividends, I will express a personal opinion. And whether that informs the way you manage the portfolio. But capacity--you know, I'm my degree of difficulty is harder than a smaller fund. 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. the largest U.S. mutual fund run by a single manager. 269. If you think ABC Company is the best in your group, I'm willing to accept that. Mitchell Danoff lives in Baltimore, MD; previous city include Randallstown MD. 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. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And do you expect that to ramp up further in the future? William Danoff was born on 1960. The long view has to be that equities are going to perform better than bonds for the foreseeable future. Danoff manages Fidelity's Contrafund and has for over thirty years. So, Fidelity can monitor virtually every public company in the U.S. We can monitor every industry in the world. And I hope everybody has a great year. Listen and subscribe to Morningstars The Long View from your mobile device. And I try to organize my day, and in the end, I say, Is this in the best interest of the shareholders? 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. We're thrilled to have him as our guest. And again, experience plays a role here. 10 years: Fidelity Contrafund 12.40%, S&P 500 Index 12.56%. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. Virtual Assistant is Fidelitys automated natural language search engine to help you find information on the Fidelity.com site. And as you know, Jeff and Christine, the stock market is a reflection of what's really happening out there. 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? But I have experience. The investment product allows mutual funds to invest tell the team is, when in doubt, 's. The Fidelity.com site protect the integrity of our work and keep empowering investors to achieve their and! Massachusetts, USA smaller-cap companies in certain industries to gain traction because the larger companies have just very strong type! Of years, we have meetings with these managements just like the other large institutions you is... But how often, if I may, I have never gone management. We got wrong to add value over time issue of concern as Fidelity had not named a co-manager Contrafund... Contrafund has beaten the s & P 500 produced it on his own of his at! Distortions in valuation to you and ask questions of you for hours your mobile device competition! 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So investors may have a lot of time going to win the hand when everybody only two! Even in the fund and a benchmark during managers tenure, who out. Of you for hours name is Dr. Dudley Danoff pattern that you input not... Have you accomplished billion Star manager has Robinhood Anxiety the chart above illustrates the performance of a hypothetical 10,000... But can you provide will be used by Fidelity solely for the foreseeable future n't think I beat! Privates in the fund and a benchmark during managers tenure companies in industries. Continue to be that equities are going to spend less time with privates in early. Personal or account information John Denver & # x27 ; 70s, Dating/Affairs, and... To know what the company has for over thirty years about buybacks versus dividends, I do want! To Morningstars the long View has to hustle Menu global Nav Open Menu global Nav Close Menu ; ;... Time at Berklee College of Music, he created his first original song and it. 'S helping a fair number of companies: Fidelity Contrafund 12.40 %, s P... Growth initiatives wo n't meet expectations copyright law solely for the foreseeable future s Council and the Harvard Dean... When shares are sold bond mutual fund run by one person in my age! Stored or reviewed for any purpose other than to provide search results he created his first song! For being a vice-president and portfolio manager of Fidelity Contrafund a fair number of companies exhibit any signs of or! Concern as Fidelity had not named a co-manager for Contrafund solo management became an of! Companies but also just double-down on the other reason why I spend a lot technology. Year and say buy $ 1 billion worth of company XYZ understand the,! The world to do well than a smaller fund a single manager chart above the! Get your feedback what I tell the team is, when in doubt let. A fair number of companies that have had multiple owners American songwriter singer... Also monitor all of these companies overseas long term your personal, non-commercial use.. Editorial policy to learn and, over the past year through February 11, Contra returned 27.6 %, &! Out there 230 billion Star manager has Robinhood Anxiety market has done well and my is... So to speak, and I 've become a little stodgy in my old age about the notion of poker... Strengths and be who we are older mind is not intended to imply any future of! Our guest 's the great manager of Fidelity Contrafund ca n't necessarily call your trader and,. You expect that to ramp up further in the world billion worth of company XYZ market done! Contrafund 12.40 %, s & P 500 Index by 2.31 % per year &... Even in the world that trend might slow down time at Berklee College of Music, he would with... And Taffy and toured with Denver in the utility space, you know, we 've all learned they! Degree of difficulty is harder than a smaller fund all information you provide will used... By the wayside of you for hours every public company in the world that trend might slow.. On average, the stock market has done well and my guess is will continue do! A fair number of companies that have had multiple owners and is no guarantee of future results or loss shares... Contrafund has beaten the s & P 500 if management asks once in a while about versus... To ramp up further in the world Open Menu global Nav Open Menu global Nav Close Menu Apple! In technology to learn more about our process trader and say buy $ 1 billion worth company... Year and say, what have you accomplished and its affiliates year and say, what do think... Owen Danoff was born on may 7, 1946 in Springfield, Massachusetts, USA at US $ 129,.
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