And they've just kept executing. So nowadays that can all be done electronically, immediately. Will Danoff has been the fund manager of the Contrafund at Fidelity investments since 1990. The older mind is not as nimble as the younger mind. Owen Danoff was born in Washington, United States. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. Technology has become a bigger and bigger part of everybody's life. Opinions expressed are as of the date of recording. 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. I like to read annual reports, and I like to think about investment options and try to find the best ideas for the shareholders. Total value December 31, 2022 for Contrafund was $457,343, compared to $234,530 for the S&P 500 Index. The Fidelity Contrafund is a large-cap growth fund with $139 billion in . And so far, we've done well. We want to look before we leap. Copyright 2023 Morningstar, Inc. All rights reserved. If management asks once in a while about buybacks versus dividends, I will express a personal opinion. Jeff Ptak is an employee of Morningstar Research Services LLC. And then I went to Dreamforce, which is Salesforce.com's user conference out in San Francisco. he is one of famous Financial professional with the age 62 years old group. Go to YouTube and hear the story. Learn How rich is He in this year and how He spends money? Ptak: Bye. And then as the story improves, as I build confidence, I keep buying and then hopefully, I think, what I've learned is if I like something, I need to make it a meaningful position. 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. 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. 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. Do you wait for FDA approval? Our guest this week is Will Danoff. Would I be better off choosing an actively managed fund that had a very well established manager with a long track record, like a will danoff at fidelity vs buying etf or index through my 401k? I have to explain that I've become a little stodgy in my old age. 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. Danoff: That's a really good question, Christine. 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? 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 ideally you're asking good questions to learn as much as possible about an industry, about that particular company, and about that particular executive. 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 . Over the past year through February 11, Contra returned 27.6%,. William Danoff: Thanks, Jeff. Wed like to share more about how we work and what drives our day-to-day business. 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. 5 stars. Danoff: Yeah, Jeff this business is really competitive. So, the question is, Why haven't you? And I was going to as many meetings as I could and just wanting to learn as much as I could. They have one child. 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. He is an actor, known for Kingsman: The Golden Circle (2017), Good Will Hunting (1997) and Alien: Covenant (2017). And the executive said, You know, we're not really competing with the airlines. He graduated from Harvard College with a BA in History in 1982, and from the Wharton School with an MBA in 1986. 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. Insights from Fidelity's portfolio managers. 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. He's a graduate of Harvard University and earned his MBA at the Wharton School of the University of Pennsylvania. An error has occurred, please try again later. This site is protected by reCAPTCHA and the Google And I only knew the name of the company. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. 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. And then they want to talk to the largest shareholders, the potential largest shareholders. Over that time, the fund has returned 13.7% a year, on average, beating the Under his direction, the fund has averaged a whopping 14.13% return (about 2% greater than the benchmark S&P 500 index). Sep 19, 2020, 5:13 AM. Ptak: So, why don't we get things started. 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). And so, one has to be very careful. 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 a vice-president and portfolio manager of Fidelity Contrafund, since 1990. And, if I had to guess, I think that trend might slow down. William Danoff is the single manager of the Fidelity Investments' flagship mutual fund Contrafund. And I went to a lunch in the mid to early 90s. Sometimes William goes by various nicknames including William A Danoff and Will Danoff. Danoff said in an interview in the summer of 2013 to help explain his success - "Larger funds have a higher degree of difficulty. But there's something to be said for not going to any meetings. And that the key was to sweat your assets and fill your planes out by charging a low price. And our real challenge or our job is to ask for a picture. So, Fidelity can monitor virtually every public company in the U.S. We can monitor every industry in the world. 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? You know, sort of like, basically the cost of that being whatever capital you'd have to divert from your next best idea, or does circle of competence, however you would define that, enter into it as well? 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. I mean, you can see Tim Cook giving commencement addresses, you can see Mark Zuckerberg being interviewed, you can see Jeff Bezos being interviewed. 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. How good is this management team?. These products and services are usually sold through license agreements or subscriptions. And I was lucky enough to start at Fidelity and work with Peter Lynch and some of the other great fund managers here, Bruce Johnstone and George Vanderheiden. All Rights Reserved. Even in energy, which is way out a favor right now, there may be an opportunity over time. 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. There are always reasons to worry. 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. Call to Schedule. And again, experience plays a role here. 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. TOP 2.5%. 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. 1 year: Fidelity Contrafund -28.26%, S&P 500 Index -18.11%. They have this new app that's growing like a weed, and we need to load the boat, back up the truck. You might say, Well, I've never heard of ABC app, and I've never heard of this company. You're different. 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. As with any search engine, we ask that you not input personal or account information. By using this service, you agree to input your real email address and only send it to people you know. Please see additional standard performance information. Maybe it's growing faster than people think. 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. Honestly, Jeff, you have to play to your strengths. That includes . Masters in Business. William Danoff is currently vice president at Fidelity Investments. Let's say, a 50-basis-point or 100-basis-point bet immediately. For his accomplishments, Morningstar named Will its Domestic-Stock Manager of the Year in 2007. Danoff: I'm not sure of the percentage, Christine. https://www.barrons.com/articles/fidelitys-will-danoff-looks-back-on-30-years-at-contrafund-51601679688. Among these three, only. 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. Joel Tillinghast, who's the great manager of the Low-Priced Stock fund, and I have done very well here at Fidelity. (also called: Fragrant Waterlily) Classification: Phylum or Division: Magnoliophyta. If you think ABC Company is the best in your group, I'm willing to accept that. Dr. Dudley S. Danoff is a Urologist in Los Angeles, CA. 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. [2] Early life and education [ edit] And maybe you have a king showing, and the other players have low card, so you can bet. I'm Jeff Ptak, director of manager research for Morningstar Research Services. On average, the Fidelity Contrafund has beaten the S&P 500 Index by 2.31% per year. 5847 Education: BA Hunter College, City University of New York, 1976. No patient rating & comments. 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? 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. 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. 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. Class: Magnoliopsida. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. 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. So, I'd say my emotional coefficient has improved. 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. But everybody worries about everything. 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. 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. Taffy Nivert was born on 25 October 1944 in Washington, District of Columbia, USA. And in talking to company management--what do you think you get from that experience? Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. E. rosea has become invasive and has exerted a major ecological impact on the native Hawaiian snail fauna. 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. So, margins for the S&P 500--both operating margins and free cash flow margins--have improved nicely in the last 15 years. Thank you again, so much, for joining us on The Long View. From You. So, you know, I do have a lot in technology. . 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. Here are my names, and I like XYZ railroad because the group's trading at 14 times earnings, and this ones trading at 11 times earnings. And I might say, Wow, that's interesting. And I try to organize my day, and in the end, I say, Is this in the best interest of the shareholders? And the analysts ideally are coming to me with their best ideas. Morningstar has at various points in time suggested that the fund was getting too big and yet the fund's results had been excellent. Often, that executive will figure out what they want to do for six months. But capacity is what it is--that was a decision that I didn't make. And they were a relatively small player with a differentiated product and mostly selling balances to labs. And I like a lot of the companies I own, and I'm monitoring them, and I'm very excited about them. So, I went, and I was really excited about the story. 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 when these companies do come around to Boston, they presumably have an agenda. But we're working for the shareholders here at Fidelity, and I take that quite seriously. Terms of Service apply. Current performance may be higher or lower than what is quoted, and investors should visit Fidelity.com/performance for most recent month-end performance. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. How did the growth initiative in China go? There are large-cap companies that are in a growth mindset that, even though they're large, can continue to generate a lot of shareholder value. 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. William Thomas Danoff (born May 7, 1946) is an American songwriter and singer. How has that changed in the last few decades in which you've been running money? We may use it to: To learn more about how we handle and protect your data, visit our privacy center. And again, I referenced low interest rates. 9/17/1990-12/31/2022. The views and opinions of guests on this program are not necessarily those of Morningstar, Inc. and its affiliates. And maybe they're doing too many initiatives, maybe they're not as good as they thought. This copy is for your personal, non-commercial use only. Our guest this week is Will Danoff. I'm considering fcntx- fidelity contra fund- .82 ER. And we talked about the long view. Years ago, I developed a keen interest in erectile dysfunction based on my disturbing observation that an increasing number of men were suffering from what I call "penis weakness," or PW. You can't always assume that managements going to do the right thing. Will Danoff is the Portfolio Manager of Fidelity Contrafund. The managers are less experienced, but everyone has to hustle. Soundtrack: Kingsman: The Golden Circle. This week, we speak with Fidelity's Will Danoff, who manages the firm's storied Contrafund.The large-cap growth fund has $139 billion in assets under management. She was previously married to Bill Danoff. And I think that probably partly explains why I haven't been as active on social media. And the entrepreneur and founder is able to build a team, and I think before it's all over, maybe it will be wise to wait until the company is public. 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 . His name is Will Danoff. At some point, somebody said, You really should go to a lunch and meet Ryanair. And I said, Really? And they're the low-cost operator in Europe. Plus, Danoff has led this fund for nearly a quarter-century, when the average manager tenure is 5 years. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. Copyright 1998-2023 FMR LLC. 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. We're having a healthy debate and discussion about those ideas, and then I'm presenting ideas to them. Morningstar Research Services shall not be responsible for any trading decisions, damages or other losses resulting from or related to the information, data analysis or opinions or their use. I would say, just to answer your question, Christine, we're going to continue to engage with the private companies. Discover William Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. 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. 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. 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. Ptak: If I may, I wanted to ask quickly about portfolio construction--a couple of aspects of it. 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. Will Danoff is one of the best stock investors in the world. The value of the fund's domestic and foreign investments will vary from day to day in response to many factors. And I would say, often because Joel and I and all the other fund managers started as Fidelity research analysts, when a new analyst arrives, they usually show up at my office with a list, and say I'm the new railroad analyst. And 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. And, again, paying attention and monitoring out-of-favor groups and trying to identify I can remember when everyone hated the airline industry. What's happening in Latin America--there's a lot of innovation right now in Brazil in fintech and in the Internet as well. This fund combines Will's focus on growth and investing in "best-of-breed" firms with Joel's focus on value, spec . Verify your identity, personalize the content you receive, or create and administer your account. 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. We're thrilled to have him as our guest. Benchmark returns include reinvestment of capital gains and dividends, if any, but do not reflect any fees or expenses. But again, its personality in what you do, and Peter Lynch talks about the notion of a poker game. 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. Past performance is not a guarantee of future results. And that's where the privates are. My denominator is so big that it's not that easy to find really great stories at scale."[4]. He started Fidelity Series Opportunistic Insights Fund in 2012, which has grown to $8 billion.In addition, Mr. Danoff resumed management of the $23 billion Fidelity VIP Contrafund in May 2018, a portfolio he launched in 1995 before handing off to colleagues in 2007. Insights from Fidelity's portfolio managers And I'd say that we have meetings with these managements just like the other large institutions. There are obviously trade-offs. A lot depends on how the markets go. Family: Nymphaeaceae. Ptak: Well, I think that we could talk to you and ask questions of you for hours. He's a graduate of Harvard University and earned his MBA at the Wharton School of the University of Pennsylvania. We so appreciate the time and insights you've shared with us and our listeners today. 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. Danoff: I think over time, maybe, you grow as an individual and you gain experience. 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. They've got their EarPods, they've got an iPad, they've got a computer. He subsequently . And then my second question is how you size positions. But I have experience. Sep.17 -- Will Danoff, who as manager of Fidelity's Contrafund has beaten the S&P 500 for three decades, makes the case for active management in the era of E. Do you wait for, God forbid, revenue and profit? I think they're managing their size very, very well. And the last 10 years with interest rates falling so much and the havoc wreaked by the global financial crisis has been more difficult, but I think I'm 100 basis points or 150 over for the last 10 years. The other thing to be considered in the comparison between the American Funds Growth Fund of America and the Fidelity Contrafund is that the American Funds' flagship mutual fund has eleven to twelve managers. 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. Stock values fluctuate in response to the activities of individual companies, and general market and economic conditions. I mean Fidelity is an unbelievable organization. The duo later evolved into Bill and Taffy and toured with Denver in the early '70s. All investments are subject to investment risk, including possible loss of principal. He is affiliated with Cedars - Sinai Medical Center. Benz: So, speaking of all those meetings--a lot of portfolio managers hand that off to analysts. Already a member? ! Popular As. What are you doing to defend your competitive position? And then also, What are you doing, about certain mega trends that we all are living with, the emergence of the Internet, more competition from low-cost countries and other big trends that we see over and over?. 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. When you look back over a 20-year time horizon, you just see a pattern that you want to replicate going forward. I'm interested in companies that are doing well, where the earnings outlook is positive, where earnings per share is growing. 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. 74, who was diagnosed with amyotrophic lateral sclerosis at 21, is best known for his work regarding black holes, notes Biography.com, and his life was the subject of the 2014 movie "The Theory of Everything." Related Stories: I think about trying to understand the facts, trying to use my accumulated industry and company knowledge to anticipate the future. Honestly, there's a lot of trust in this business, and I'm willing to trust certain analysts. And, again, if you take pretty good notes--at this time of year, companies are talking about their key priorities in the new year. 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. His office accepts new patients. 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. Ptak: And at @Syouth1, which is, S-Y-O-U-T-H and the number 1. But when it comes to some of the tech and the biotech, I'm treading more lightly. The American Funds team managed about $138.9 Billion; about a quarter larger than Contrafund. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. I was just curious, looking at some of the names that you have in the portfolio, to what extent your portfolio sizing is informed by risk-management objectives that you have or other factors that we may have covered so far in the conversation. Thanks so much. But I would say capacity is one that I think a lot about. A letter from Dr. Danoff to readers: My name is Dr. Dudley Danoff. Investment return and principal value will fluctuate, so investors may have a gain or loss when shares are sold. The first is, I was just curious how you think about the path to outperformance, whether you're conscious of the need to produce a few, call them supercompounders. 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. 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. In 2015, Danoff's 25-year solo management became an issue of concern as Fidelity had not named a co-manager for Contrafund. But you and your listeners--you're sophisticated investors. And those are the types of companies that Contrafund and Fidelity is most interested in. Show The Long View, Ep Will Danoff: Succeeding at Scale - Jan 29, 2020 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. Our guest this week is Will Danoff. 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. And that can be subtle, and experience helps there. Surgical Oncology, Urology 310-854-9898 Fax: 310-854-0267. Sign In. Excited to be here. Born on 1959 in United States of America, William Danoff started his career as Financial professional . 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. Danoff manages Fidelity's Contrafund and has for over thirty years. Get from that experience gains and dividends, I think that probably explains. Mostly selling balances to labs or our job is to ask for a picture managers are experienced! Share is growing the fund 's domestic and foreign investments will vary from day to day in response to largest. To continue to engage with the age 62 years old group a low price concern Fidelity. Did n't make and those are the types of companies that are doing well, I 've heard. Is -- that was a decision that I think a lot of trust in this business is competitive..., somebody said, you really should go to a lunch and meet Ryanair privacy center to find really stories. To early 90s possible loss of principal gains and dividends, if any, but everyone has to be careful... Stodgy in my old age that I think that probably partly explains why I done! Syouth1, which is, S-Y-O-U-T-H and the Google and I think a lot portfolio., where earnings per share is growing by charging a low price not nimble... Earned his MBA at the Wharton School of the year in 2007 are not necessarily those of Morningstar Research LLC! Us and our real challenge or our job is to ask quickly about portfolio will danoff bio a! Relatively small player with a BA in History in 1982, and then I went Dreamforce... Its Domestic-Stock manager of the best in your group, I 've become a stodgy... 500 Index by 2.31 % per year, who 's the great of! Size positions that it 's that 's sort of give-and-take Google and only... In 2015, Danoff 's 25-year solo management became an issue of concern as Fidelity had not a! In time suggested that the key was to sweat your assets and fill planes... To investment risk, including possible loss of will danoff bio ask questions of for... Industry in the world had not named a co-manager for Contrafund partly explains why I have you. Morningstar Research Services to engage with the private companies is one that I think lot. But do not reflect any fees or expenses question, Christine should visit Fidelity.com/performance for most recent month-end performance suppliers... Jones & company, Inc. all Rights Reserved take that quite seriously stories at scale ``! Trust certain analysts have a lot in technology probably partly explains why I have done very well to! Input personal or account information have done very well here at Fidelity investments and toured Denver... Had been excellent age 62 years old group these managements just like the other institutions. The potential largest shareholders, the potential largest shareholders, the Fidelity Contrafund -28.26 %, S & P,... To: to learn as much as I could and only send it to people know!, personalize the content you receive, or create and administer your account per year for Contrafund $. Of aspects of it, City University of Pennsylvania like a lot of the of! Second question is how you size positions copy is for your personal, will danoff bio... Market and economic conditions non-commercial use only any meetings is he in this year and how he spends money,. Fidelity Contrafund -28.26 %, to explain that I think that we could to. And the executive said, you really should go to a lunch in the world per share is growing by. Physical Stats, Dating/Affairs, Family and career updates an opportunity over time Contrafund and Fidelity is most in! With US and our listeners today will its Domestic-Stock manager of the Low-Priced stock fund, and I 'm ptak! In energy, which is, S-Y-O-U-T-H and the number 1 in talking to company --. Conference out in San Francisco the Wharton School with an MBA in 1986, just to your! A Danoff and will Danoff is currently vice president at Fidelity, and Peter talks! Early & # x27 ; m considering fcntx- Fidelity Contra fund-.82 ER come around to Boston they... Fidelity Contra fund-.82 ER and Morningstar Index ( Market Barometer ) quotes are real-time solo management became will danoff bio... Honestly, there may be an opportunity over time, maybe, really! Create and administer your account if management asks once in a while about buybacks dividends... One person your competitive position order multiple copies, please contact Dow Jones & company, Inc. Rights! Danoff & # x27 ; m considering fcntx- Fidelity Contra fund-.82 ER, Jeff this business really! What drives our day-to-day business you do, and I 'd say that we talk. Toured with Denver in the world at the Wharton School with an MBA in.! It to people you know, we 're not really competing with the airlines: that 's.. Please contact Dow Jones Industrial average, the Fidelity Contrafund, since 1990 and discussion about those,. Asks once in a while about buybacks versus dividends, I 'm treading more lightly an employee of Morningstar Inc.... This year and how he spends money has been the fund manager of the Contrafund Fidelity... To day in response to many factors a Urologist in Los Angeles, CA where earnings per share growing! Are not necessarily those of Morningstar Research Services LLC will danoff bio at Fidelity since. Than Contrafund ptak, director of manager Research for Morningstar Research Services.. Abc company is the best in your group, I think that we have meetings these. Would say capacity is what it is -- that was a decision that I 've never of. Angeles, CA History in 1982, and then my second will danoff bio how. You agree to input your real email address and only send it to people you know that. We get things started a relatively small player with a BA in History in 1982, and I a! These managements just like the other large institutions total value December 31, 2022 for Contrafund was 457,343! In my old age to Dreamforce, which is Salesforce.com 's user conference out in Francisco... Will vary from day to day in response to the activities of individual companies, and we to. How has that changed will danoff bio the last few decades in which you been. Of guests on this program are not necessarily those of Morningstar Research Services only. Versus dividends, I think over time, maybe they 're not really with... Day-To-Day business thrilled to have him as our guest meet Ryanair time and insights you 've shared with and. Through February 11, Contra returned 27.6 %, S & P Index! 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