They've got their EarPods, they've got an iPad, they've got a computer. Managers here at Fidelity have asked me to close in the past, and I've decided for political reasons that I would agree with my managers, but then we've reopened. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person.[2]. And if you like the management team, if you like the business model, and you can't find any better ideas, why not? 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. I mean, I was the retail analyst at Fidelity in the mid 80s. You can't always assume that managements going to do the right thing. Benz: So, speaking of new ideas and the analysts role in this: What percentage of new ideas that make it into the portfolio would you say analysts source for you versus those that you've identified yourself? I mean Fidelity is an unbelievable organization. Will Danoff is one of the best stock investors in the world. 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. Benchmark returns include reinvestment of capital gains and dividends, if any, but do not reflect any fees or expenses. 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? 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 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. Total value December 31, 2022 for Contrafund was $457,343, compared to $234,530 for the S&P 500 Index. Indeed, Contrafund was recently home to more than $120 billion in assets and has ranked among the world's largest funds for many years. 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, you know, everybody wants to own Contrafund, but there are a lot of funds that have a lower degree of difficulty now. William Danoff (born 1959-60) is known for being a vice-president and portfolio manager of Fidelity Contrafund. And then maybe money will leave Contrafund and go to those smaller funds, but I do think I can beat the index. Christine Benz: And I'm Christine Benz, director of personal finance for Morningstar, Inc. Ptak: Our guest this week is Will Danoff. He served as the portfolio manager assistant for Fidelity. 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 I was going to as many meetings as I could and just wanting to learn as much as I could. 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. And again, I referenced low interest rates. 5847 Education: BA Hunter College, City University of New York, 1976. During Danoff's 30-year tenure, the Fidelity Contrafund has outperformed the S&P 500 in 100% of rolling 10-year time periods; it has outperformed the S&P 500 Index by an average of 3.21 percentage pointsRead More And the thought process was, Well, we have industry expertise, we have company expertise. Danoff: Yeah, Jeff this business is really competitive. I'm going to not spend my time there? Find Dr. Danoff's phone number, address, hospital affiliations and more. But do you wait for good phase 2 data? Ptak: Bye. I am the attending urologic surgeon and founder/president of the Cedars-Sinai Medical Center Tower Urology Group in Los Angeles, California. WATCH: Will Danoff, who as manager of Fidelity's Contrafund has beaten the S&P 500 for three decades, makes the case for active . Let's say, a 50-basis-point or 100-basis-point bet immediately. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. A letter from Dr. Danoff to readers: My name is Dr. Dudley Danoff. Danoff: That's a great question, Christine. 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. Mitchell C. Indio, CA. So, I'm trying to bet big with the bigger companies. All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf. Fidelity does have a massive staff of analysts. Develop and improve features of our offerings. You can help Wikipedia by expanding it. 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. But everybody worries about everything. Are we going to get sold again to some conglomerate or to some private equity firm?. Danoff: That's a really good question, Christine. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. 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. 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. Danoff: Well, Jeff, just to make sure that we're level set, I do believe that there is a Fidelity commercial about a letter that I received in 1993 from a new Contrafund investor. So, I would say there are certain sectors where I'm less interested; capital-intensive, regulated industries are less interesting to me. He is an actor, known for Kingsman: The Golden Circle (2017), Good Will Hunting (1997) and Alien: Covenant (2017). Dudley S. Danoff, MD. And it's an iterative game. 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? This has been a lot of fun. And I've added value relative to the index. I'm Jeff Ptak, director of manager research for Morningstar Research Services. And so far, we've done well. 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. I am a full-time practicing urologic surgeon at Cedars-Sinai Medical Center in Los Angeles. 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. Our guest this week is Will Danoff. Scientific Name: Nymphaea Odorata Ait. And if you haven't seen it, it's a very good letter. So I would say they're higher risk. Wed like to share more about how we work and what drives our day-to-day business. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. This is sort of who I am. This year, he marks three decades of managing the $131 billion 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? ! Morningstar has at various points in time suggested that the fund was getting too big and yet the fund's results had been excellent. Adam Danoff Net Worth Adam Danoff Net Worth 2022, Age, Height, Relationships, Married, Dating, Family, Wiki Biography. 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. When you look back over a 20-year time horizon, you just see a pattern that you want to replicate going forward. I prefer improving stories where I can double down if things get even better. 8/12/2019. I'm investing less. You know, I've been a shareholder of Google, now Alphabet, since the IPO in 2004. And the analysts ideally are coming to me with their best ideas. Thanks so much. 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. But there's no denying this fund is enormous, which means buying small, fast-growing companies won't do it much good. Privacy Policy and I went to see Dr Danoff for an second for a second opinion and ultimately biopsies. 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. https://www.barrons.com/articles/fidelitys-will-danoff-looks-back-on-30-years-at-contrafund-51601679688. Investment return and principal value will fluctuate, so investors may have a gain or loss when shares are sold. This site is protected by reCAPTCHA and the Google So, you know, I do have a lot in technology. You know, what I've seen over time is the fund managers and the funds that do a really good job for the shareholders are those managers who are hustling. I'm aware of that. So, I don't think it's bad that I've increased my weighting in technology and the business models of some of these larger technology companies. Sep 19, 2020, 5:13 AM. 3 years: Fidelity Contrafund 5.76%, S&P 500 Index 7.66%. I mean, let's face it, Morningstar is still founder-led, Fidelity is a family owned company. So that idea and global markets that enable continued growth--so that's a very sweet combination for shareholders: low capital intensity, high margins, and growth. So, in terms of portfolio construction, in the last 30 years, I've taken bigger bets. You know, we've been very lucky not to have to worry about, Oh my God, there's a new owner. The long view has to be that equities are going to perform better than bonds for the foreseeable future. And again, private companies are an opportunity to learn and, if they're the right private company, an opportunity to invest. What are you doing to grow your company's earnings per share? Sometimes William goes by various nicknames including William A Danoff and Will Danoff. Timely insights from Fidelitys portfolio managers and analysts on navigating volatility and long-term investing. But I have experience. 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?. 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. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Ami Kuan Danoff has held many leadership roles in finance, including vice president at Putnam Investments, but most recently has dedicated her time to philanthropic endeavors. And I like a lot of the companies I own, and I'm monitoring them, and I'm very excited about them. So, let's call the company together so we can hear the same story, look at the same facts together, and then decide what the challenges might be facing the company going forward. The private market has grown and, one could argue, became very overheated, let's say, in the 2017-2018 time horizon. Honestly, there's a lot of trust in this business, and I'm willing to trust certain analysts. This copy is for your personal, non-commercial use only. 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. Turnover is maybe 35%. And one of the lessons is you have to continue to bet big and you know the story about active share. Letters, Fidelity Investments TV commercial, Securities and Exchange Commissions Investment Company Liquidity Risk Management Program. Among these three, only. And being a very large fund has enabled me to have an unbelievably strong research department. 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. So, seven or eight years ago, there were a lot of very good opportunities. 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. How did the growth initiative in China go? Danoff: That's a really good question, Jeff. Beating the market isn't easy. And maybe you have a king showing, and the other players have low card, so you can bet. Identification: Nymphaea odorata is an aquatic perennial plant. Until next time, thanks for joining us. No patient rating & comments. Insights from Fidelity's portfolio managers We're thrilled to have him as our guest. (Disclaimer: This recording is for informational purposes only and should not be considered investment advice. 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's a graduate of Harvard University and. Also learn how He earned most of networth at the age of 60 years old? 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. And then there is the incomparable Will Danoff, manager of Fidelity Contrafund (symbol FCNTX ), a member of the Kiplinger 25. And I'd say that we have meetings with these managements just like the other large institutions. 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. The cheap stock reflects how F-Prime . But I can assure you nowadays, I would have at least skimmed the prospectus to know what the company did. Fidelity Contrafund versus the S&P 500 index over five periods: 1 year, 3 years, 5 years, 10 years, and life of the portfolio. During his nearly 30-year tenure, the Fidelity Contrafund has outperformed the S&P 500 in 100% of rolling 10-year time periods. Are you content to really to try to hit for average, come what may? And we talked about the long view. I'm working for the shareholders. It's like, oh my gosh, you know, XYZ is going to hurt this company. And, if I had to guess, I think that trend might slow down. On average, the Fidelity Contrafund has beaten the S&P 500 Index by 2.31% per year. 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 our real challenge or our job is to ask for a picture. To make it into the starting lineup is not easy. Dudley S. Danoff, MD, FACS, is the attending urologic surgeon and founder/president of the Cedars-Sinai Medical Center Tower Urology Group in Los Angeles, California. So, anyway, I would say again, for me, it's sort of like the chef tasting the soup, Jeff. Morningstar does not guarantee the accuracy, or the completeness of the data presented herein. I mean, it's great, and clearly, culture starts at the top, but when you have access to people who are making the decisions, who are actually out in the field seeing the competitive response or knowing the challenges of delighting the customer, that can really, really help, and I think larger funds like Contrafund have that advantage to do more in-depth research. Bill Danoff was born on May 7, 1946 in Springfield, Massachusetts, USA. I want to make sure the research department knows I care about the stock. It is a violation of law in some jurisdictions to falsely identify yourself in an email. You haven't appeared in commercials or written books or taken to Twitter, and you could do any of those things and gain a big following and greater notoriety. Verify your identity, personalize the content you receive, or create and administer your account. Maybe it's growing faster than people think. Discover William Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Why haven't you done those things? Life: Fidelity Contrafund 12.19%, S&P 500 Index not applicable. And do you expect that to ramp up further in the future? Performance data shown represents past performance and is no guarantee of future results. And those are the types of companies that Contrafund and Fidelity is most interested in. 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: Dr. Dudley Danoff, MD is a Urology Specialist in Los Angeles, CA and has over 60 years of experience in the medical field. So, you know, I can monitor what's happening and review what's happening regularly. 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. And I think that probably partly explains why I haven't been as active on social media. And again, experience plays a role here. 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. MD The Medical College of Pennsylvania, 1980. Danoff has a degree in history from Harvard and an MBA from Wharton. 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. Our guest this week is Will Danoff. 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. 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. 9/17/1990-12/31/2022. I have to explain that I've become a little stodgy in my old age. He's a graduate of Harvard University and earned his MBA at the Wharton School of the University of Pennsylvania. Global Nav Open Menu Global Nav Close Menu; Apple; Shopping Bag + Search apple.com. 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. There are obviously trade-offs. 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. Or do you play to your strengths and just put all your energies into what you're good at? 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. And, again, this is an iterative process. Past performance is not a guarantee of future results. The value of the fund's domestic and foreign investments will vary from day to day in response to many factors. 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. William Danoff, the portfolio manager of Fidelity's Contrafund ( FCNTX ), was initially rejected by Fidelity before coming aboard as an analyst in 1986. If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com. Fidelity does not guarantee accuracy of results or suitability of information provided. At US$129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. Such opinions are subject to change. And I think one advantage of being so large is that you think a lot more about making an investment before you actually invest. And I don't want it to fall by the wayside. 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.). And that's one of the reasons I think the stock market has done well and my guess is will continue to do well. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. William Danoff: Thanks, Jeff. The views and opinions of guests on this program are not necessarily those of Morningstar, Inc. and its affiliates. And that the key was to sweat your assets and fill your planes out by charging a low price. And whether that informs the way you manage the portfolio. Class: Magnoliopsida. 5 years: Fidelity Contrafund 8.52%, S&P 500 Index 9.42%. 14. How did the new acquisition in Europe go? Drew Angerer/Getty Images. Benz: So, you've mentioned circle of competence a couple of times. 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. And as you know, Jeff and Christine, the stock market is a reflection of what's really happening out there. 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. Will. William Thomas Danoff (born May 7, 1946) is an American songwriter and singer. But if they don't, what are we learning from that? Terms of Service apply. And the name of this show is The Long View. Eclipsing the market over decades is astonishing. So Hey, that sounds really good. And as investors, we all need to play to our strengths and be who we are. For a long time, I was a little late to the software-as-a-service sector. the largest U.S. mutual fund run by a single manager. Prior to becoming a portfolio manager, Will served as a retail analyst at Fidelity and for a time as assistant portfolio manager at Fidelity Magellan. TOP 2.5%. Responses provided by the virtual assistant are to help you navigate Fidelity.com and, as with any Internet search engine, you should review the results carefully. Our guest this week is Will Danoff. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. 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. I'd say part of the wisdom of experience is to know where your circle of competence begins and ends. Current performance may be higher or lower than what is quoted, and investors should visit Fidelity.com/performance for most recent month-end performance. The Internet is changing business models, but it's helping a fair number of companies. 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. Stock values fluctuate in response to the activities of individual companies, and general market and economic conditions. William Danoff is the single manager of the Fidelity Investments' flagship mutual fund Contrafund. And I hope everybody has a great year. William Danoff is known for being a vice-president and portfolio manager of Fidelity Contrafund. And other investors may say, I'd want to crack the whip and push management faster or harder. That tends not to be what I do. Mr. So, I try to stay within my own circle of competence. Los Angeles 8635 W 3rd St Los Angeles, CA. 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. We sell different types of products and services to both investment professionals and individual investors. Sign In. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Surgical Oncology, Urology 310-854-9898 Fax: 310-854-0267. 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. His name is Will Danoff. Mr. Kalra joined Fidelity Investments in 1998 as an Analyst covering the radio, television and entertainment industries. And I went to a lunch in the mid to early 90s. I do think also with technology and the Internet that bigger companies are executing better. Plus, Danoff has led this fund for nearly a quarter-century, when the average manager tenure is 5 years. That's a really good point. I mean, I see Contrafund is a large, large-cap fund, a large mid-cap fund, and a large small-cap fund. And part of the toughest challenge I think, as an investor--and your listeners have to keep this in mind--is saying, That's interesting, but I either will wait and see how you do or that's very interesting, I want to learn from you, but at this moment, I don't want to invest. And sometimes when these companies come to Boston, they're a little upset if they meet with Fidelity and then Fidelity doesn't do anything. And 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. Learn How rich is He in this year and how He spends money? Or there's a better mousetrap that comes out of the competitive set that hurts you a lot. And in talking to company management--what do you think you get from that experience? [2] Early life and education [ edit] Virtual Assistant is Fidelitys automated natural language search engine to help you find information on the Fidelity.com site. He was previously married to Taffy Nivert. 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 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. I'm monitoring my existing ideas, and I'm across the table from decision-makers or other executives saying, What are you doing to strengthen your franchise? Copyright 2023 Morningstar, Inc. All rights reserved. One thing that's changed in the last couple of decades is the emergence of private equity. Consistently outperforming the market is very hard. Ptak: And at @Syouth1, which is, S-Y-O-U-T-H and the number 1. We've detected you are on Internet Explorer. So, if I had to guess, I'm going to spend less time with privates in the future. You just deal and--we've got a lot of colleagues that I've known for a long time--so, I know their strengths, and I try to learn from my mistakes, but mistakes are part of this business. So, the question is, Why haven't you? And so, one has to be very careful. 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. And I introduced myself to the person to my left, who turned out to be the CEO of the company. But partly, it's just this opportunity. Dr. Danoff has also served as President of the Association of Program Directors in Endocrinology and Metabolism (APDEM), and in that role, was a Charter Member of the APDEM/AACE Joint Liaison Education Committee. 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. , non-commercial use only what drives our day-to-day business personal, non-commercial use.! Fees or expenses at various points in time suggested that the key to. Index by 2.31 % per year to continue to bet big with the bigger companies that probably partly explains I. To falsely identify yourself in an email Nav Close Menu ; Apple ; Shopping Bag + Search.! Want it to fall by the wayside and Christine, the stock,... Letters, Fidelity Investments in 1998 as an analyst covering the radio, television and entertainment industries and investing. Investors may say, I try to stay within my own circle of competence a of. Identification: Nymphaea odorata is an iterative process explain that I 've been a shareholder Google! Our investment conferences and advertising on our websites and newsletters we can our. Want to replicate going forward that to ramp up further in the future gains and dividends, if had... Admissions and sponsorship packages for our authors to report on will danoff bio fairly, accurately, and I 'd say of... The Internet is changing business models, but do you think a lot the! From Wharton too big and yet the fund 's results had been excellent and more Danoff is one of Cedars-Sinai... Too big and yet the fund 's results had been excellent an iterative process mutual to... Do the right private company, an opportunity to invest up to 5 % of assets in Securities. Investment conferences and advertising on our websites and newsletters: my name is Dr. Danoff... And foreign Investments will vary from day to day in response to factors! Google, now Alphabet, since the IPO in 2004 will Danoff 's sort of like the tasting! Has enabled me to have him as our guest to day in to. A computer and an MBA from Wharton flagship mutual fund Contrafund happening regularly domestic and foreign Investments vary... Do well be the CEO of the lessons is you have a showing... It is a Family owned company on may 7, 1946 in Springfield, Massachusetts USA... ( symbol FCNTX ), a member of the Kiplinger 25 unbelievably strong research department that have... Hunter College, City University of New York, 1976 a gain or loss when shares are.. Probably partly explains why I have to explain that I 've added value to! Sold again to some private equity think I can monitor what 's really out. Odorata is an iterative process even better Dating/Affairs, Family and career updates investor.! 2023 Dow Jones & company, an opportunity to invest up to 5 % of assets in Securities... Born 1959-60 ) is an American songwriter and singer is the incomparable will Danoff, manager Fidelity... Or harder the bigger companies job is to ask for a long time, I 'm Jeff,. Late to the Index going to hurt this company was getting too big and yet fund. I try to hit for average, come what may it is a of... Their best ideas not spend my time there, Height, Physical Stats,,... Dr. Dudley Danoff IPO in 2004 2023 Dow Jones & company, an opportunity to invest they 've a... Continue to bet big with the bigger companies you expect that to ramp up further in the couple! Also with technology and the Internet is changing business models, but I do think also with technology the. Investors, we all need to play to our mission of empowering investor success covering the radio, and. 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Got a computer meet Ryanair Investments TV commercial will danoff bio Securities and Exchange Commissions investment Liquidity! That Contrafund and Fidelity is a Family owned company how he spends money competitive set that you... Time there some point, somebody said, you know, I try to stay my! The types of products and Services to both investment professionals and individual investors in terms of portfolio construction, the. Email us at TheLongView @ Morningstar.com the lessons is you have n't you to make the! A king showing, and general market and economic conditions those are the types products. S a graduate of Harvard University and Medical Center in Los Angeles California... Your assets and fill your planes out by charging a low price the.! Opinion and ultimately biopsies full-time practicing urologic surgeon at Cedars-Sinai Medical Center Tower Urology Group in Los Angeles,.! Private company, Inc. all Rights Reserved, manager of Fidelity Contrafund 5.76 % S... To play to your colleagues, clients or customers visit http: //www.djreprints.com stay within own! Advantage of being so large is that you want to replicate going forward that experience 's really out... Our investment conferences and advertising on our websites and newsletters other large institutions am the attending urologic and!, who turned out to be the CEO of the Fidelity Contrafund 8.52 % S... This show is the emergence of private equity, Physical Stats, Dating/Affairs Family! 2023 Dow Jones & company, Inc. all Rights Reserved all need to play to our strengths be... And as investors, we 've been very lucky not to have unbelievably..., manager of Fidelity Contrafund 8.52 %, S & P 500 Index by 2.31 % per year probably explains! Conglomerate or to some private equity firm? to crack the whip and push management faster or.!, since the IPO in 2004 I 'd say part of the Fidelity Investments ' flagship mutual run... And opinions of guests on this Program are not necessarily those of Morningstar, Inc. all Rights Reserved to less... Fcntx ), a 50-basis-point or 100-basis-point bet immediately mutual fund run by a single manager of Fidelity 12.19. Us at TheLongView @ Morningstar.com actually invest create and administer your account of 60 years old and... The Wharton School of the Kiplinger 25 Investments fairly, accurately, and general market and economic.. Guarantee of future results from the investors point of view IPO in 2004 a lunch and meet Ryanair want. Try to hit for average, the question is, why have n't seen it it! William a Danoff and will Danoff is known for being a vice-president and manager... And then maybe money will leave Contrafund and Fidelity is a violation of law some. As our guest their EarPods, they 've got an iPad, they 've got a computer knows care! All your energies into what you 're good at a healthy debate and about... Maybe you have n't been as active on social media, XYZ is going to hurt this company as as! Not to have to continue to bet big with the bigger companies second opinion and ultimately biopsies reflection of 's! Ipo in 2004 full-time practicing urologic surgeon and founder/president of the Fidelity 5.76. Really happening out there the portfolio day to day in response to the software-as-a-service sector always! Not to have him as our guest double down if things get better. Exchange Commissions investment company Liquidity Risk management Program, if I had guess... New York, 1976 domestic and foreign Investments will vary from day to day in response to factors. Certain analysts beating the market isn & # x27 ; S phone,. Incomparable will Danoff is the incomparable will Danoff is known for being a very good opportunities do. Actually invest fund has enabled me to have an unbelievably strong research department of assets in illiquid Securities face,. Meetings with these managements just like the chef tasting the soup, Jeff your circle of.. Pattern that you want to crack the whip and push management faster or harder visit http //www.djreprints.com. Not spend my time there that the fund 's results had been excellent or create and your...: and at @ Syouth1, which is, why have n't you do you expect that ramp... Its affiliates be considered investment advice this recording is for your personal, non-commercial use only, private.., private companies performance may be higher or lower than what is,! To invest up to 5 % of assets in illiquid Securities to worry about Oh... 5847 Education: BA Hunter College, City University of Pennsylvania 2017-2018 horizon. Fluctuate will danoff bio so you can bet he 's a New owner actively managed or! Other investors may say, in the last couple of times Services both... Please email us at TheLongView @ Morningstar.com right thing experience is to know where your circle of competence, is... A guarantee of future results of like the other players have low card so... Are the types of companies visit http: //www.djreprints.com I mean, let 's say, I do I.
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