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 I went to a lunch in the mid to early 90s. So, I went, and I was really excited about the story. On the other hand, you do have to find the right balance in life. Joel Tillinghast, who's the great manager of the Low-Priced Stock fund, and I have done very well here at Fidelity. 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. So, I'm trying to bet big with the bigger companies. 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. They're low capital intensity because they outsource their manufacturing. Dr. Danoff has a research interest in outpatient joint replacement, rapid recovery protocols and multimodal pain regimens to decrease postoperative pain. So, I try to stay within my own circle of competence. Its leaves have a thick waxy coating, are nearly circular with a notch at the . But even in the utility space, you can find interesting special situations. William Danoff was born on 1960. Do you wait for, God forbid, revenue and profit? By using this service, you agree to input your real email address and only send it to people you know. 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. Terms of Service apply. Danoff: Yeah, no, it's a combination, Jeff. Find Dr. Danoff's phone number, address, hospital affiliations and more. 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. 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. (Disclaimer: This recording is for informational purposes only and should not be considered investment advice. 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? 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. And whether that informs the way you manage the portfolio. And often, it's really just, Is this company going to be bigger and better and stronger five years from now than it is today? So, I'd say my emotional coefficient has improved. 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. We've been very lucky that in the last 10 years, these mega-cap companies have been able to continue to grow. 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. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. Letters, Fidelity Investments TV commercial, Securities and Exchange Commissions Investment Company Liquidity Risk Management Program. How have your priorities changed? There are ways to even in difficult, harder groups to understand what's happening. 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. 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. 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". 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. But there's no denying this fund is enormous, which means buying small, fast-growing companies won't do it much good. 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. 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). This copy is for your personal, non-commercial use only. 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? 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. 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. And they were a relatively small player with a differentiated product and mostly selling balances to labs. 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. Verify your identity, personalize the content you receive, or create and administer your account. So, anyway, I would say again, for me, it's sort of like the chef tasting the soup, Jeff. And I like a lot of the companies I own, and I'm monitoring them, and I'm very excited about them. Under his direction, the fund has averaged a whopping 14.13% return (about 2% greater than the benchmark S&P 500 index). 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. The Fidelity Contrafund is a large-cap growth fund with $139 billion in . [2] Please see additional standard performance information. 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. So, we've been very lucky to live in an age where we've been able to put large amounts of money in these world-class companies, and the management teams are outstanding. I think it would be hard if I hadn't grown up with the fund. Why is that one trading at such a discount to the group? And the analysts might say, Well, they just lost their largest customer or they've got a big business into Mexico and Mexico's into a recession, or Trump wants to build a wall and therefore the Mexican business is falling off a cliff. And I usually say, That's not the type of company I'm interested in. 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. We so appreciate the time and insights you've shared with us and our listeners today. 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. We're growing the market because Lufthansa charges, let's say, 1,000 Deutsche marks and we're charging 100 Deutsche marks. 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. Ptak: I wanted to shift gears if we can and talk about one of the other dimensions that you're responsible for, which is portfolio construction, but I wanted to zero in on capacity, which I'm sure is a question you never tire of answering. Why? This site is protected by reCAPTCHA and the Google You know, you think about the great Warren Buffett. We recommend you to check the complete list of Famous Singer. But the real key is not just to hear the story but to follow up. This fund combines Will's focus on growth and investing in "best-of-breed" firms with Joel's focus on value, spec . But I would say capacity is one that I think a lot about. William Danoff is currently vice president at Fidelity Investments. Morningstar does not guarantee the accuracy, or the completeness of the data presented herein. How high are expectations? And that the key was to sweat your assets and fill your planes out by charging a low price. This is sort of who I am. We want to look before we leap. (2008) and Bloodrunners (2017). Age, Biography and Wiki. In 2015, Danoff's 25-year solo management became an issue of concern as Fidelity had not named a co-manager for Contrafund. 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. 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? And they have basically gone from a startup airline in Europe to I think--they're like 25% of all passengers now flying in Europe fly on Ryanair, and they've done a great, great job. Thanks for the help! 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 And so that's sort of what I do well, I think, is to try to ask for a call with the management team. Mitchell C. Indio, CA. Are we going to get sold again to some conglomerate or to some private equity firm?. Mistakes are made, but I think that's the other advantage I have at Fidelity where we have a lot of young analysts and associates who are more open to new ideas. [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". 5847 Education: BA Hunter College, City University of New York, 1976. 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. He served as portfolio assistant for the Magellan Fund. 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. I went to see Dr Danoff for an second for a second opinion and ultimately biopsies. This copy is for your personal, non-commercial use only. Mitchell Danoff is 71 years old and was born on 07/24/1951. But, you see, it was a high return on investment in a business, and they've been able to grow without issuing equity, and their per-share earnings have grown, and they've delighted their customers and done just phenomenal jobs. So, I look at the fund. And if you're out there, somebody, I think, famous once said, You don't learn anything if you're talking all the time and something about You got one mouth and two ears, you should use them in that rough proportion, but it's just who I am. But Fidelity gives us this great platform because we're one of the largest institutional investors. Do you attempt to improve what you're not good at? Before moving to William's current city of Weston, MA, William lived in Boston MA. 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 we can also monitor all of these companies overseas. 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. My denominator is so big that it's not that easy to find really great stories at scale."[4]. The cheap stock reflects how F-Prime . Ptak: So, why don't we get things started. 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. Jeff Ptak: Hi, and welcome to The Long View. 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. So I ran into at about 12:35, and there was an empty seat, and I sat down. Mitchell Danoff lives in Baltimore, MD; previous city include Randallstown MD. An error has occurred, please try again later. I'm considering fcntx- fidelity contra fund- .82 ER. But capacity is what it is--that was a decision that I didn't make. Consistently outperforming the market is very hard. The doctor practices in an office or specialty that we currently do not survey. Mr. I'm aware of my positions. Bill Danoff, better known by her family name Bill Danoff, is a popular American Singer. Adam Danoff Wiki: Salary, Married, Wedding, Spouse, Family Adam Danoff is an actor and producer, known for Bloodlust Zombies (2011), Punch-Out!! Will joined Fidelity as an equity research analyst in 1986 after graduating from the Wharton School of the University of Pennsylvania. And also, I think at Fidelity, we got a great team. This would be through my 401k, so all tax deferred. Bio of Golfer Bettye Danoff, an LPGA Founder Bettye Danoff never won on the LPGA Tour, but she still has a very important place in tour history: She was one of the tour's 13 founding members. But then, Christine, what really happens and where the magic happens is, I will say, That sounds like a really interesting idea. You may have a gain or loss when you sell your shares. 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 . So, the bar has risen for the Contrafund. So, in the great words of Peter Lynch, who's the mentor of everybody here at Fidelity, who just celebrated his 50th year of service here--we get offered a lot of blind dates. And then maybe money will leave Contrafund and go to those smaller funds, but I do think I can beat the index. And one of the lessons is you have to continue to bet big and you know the story about active share. Because, I think, the return on equity for the average S&P 500 company is close to 20%. 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. Owen Danoff s birth sign is Scorpio. I don't whip the fund around. The private market has grown and, one could argue, became very overheated, let's say, in the 2017-2018 time horizon. 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. He's in Omaha probably right now reading annual reports and reading newspapers and reading business magazines. I prefer improving stories where I can double down if things get even better. In addition to managing Contra, Mr. Danoff manages several other Fidelity funds totalling assets of more than $180 billion. His name is Will Danoff. And I'm aware of the risks of that profile, but at the moment, I think that's the best-selling taste. But when it comes to some of the tech and the biotech, I'm treading more lightly. Or do you just keep that to yourself? 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. Eclipsing the market over decades is astonishing. I want to make sure the research department knows I care about the stock. I think one of the huge competitive advantages Fidelity has is our access to managements and access at important inflection points. Dudley S. Danoff, MD. Benz: So, speaking of all those meetings--a lot of portfolio managers hand that off to analysts. He runs Fidelity's Contrafund. Copyright 2023 Morningstar, Inc. All rights reserved. The views and opinions of guests on this program are not necessarily those of Morningstar, Inc. and its affiliates. And, again, if you take pretty good notes--at this time of year, companies are talking about their key priorities in the new year. 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. Learn How rich is He in this year and how He spends money? (also called: Fragrant Waterlily) Classification: Phylum or Division: Magnoliophyta. Tom Ford. You know, I've been a shareholder of Google, now Alphabet, since the IPO in 2004. Start your review of Dudley S Danoff, MD. It is not possible to invest in an index. And it was again, it was a Friday afternoon, maybe in the summer, and there weren't that many people there. Danoff first took up songwriting while he was a student at Georgetown University in Washington, D.C. And our real challenge or our job is to ask for a picture. And then hopefully, in six or nine months, we'll be able to follow up and say, How's it going? or at the end of the year, say, how did you do and what else are you going to change?, Thats just the way life is--you got to keep moving forward, and do the best you can, but I personally like to interact with management teams, and I owe it to my own shareholders to say every day I'm coming to work, I'm looking for new ideas. Discover William Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. And again, private companies are an opportunity to learn and, if they're the right private company, an opportunity to invest. And I'd say try and stay optimistic. And hopefully small mid-cap companies can grow into bigger companies. But privates are, again--if you pick the right entrepreneur and you pick the right opportunity, and you have the expertise-- But they tend to be more time intensive, the companies tend to be less mature, management teams tend to be a little less mature. So, I don't know that many great investors who aren't great analysts. I have to explain that I've become a little stodgy in my old age. So, I would say there are certain sectors where I'm less interested; capital-intensive, regulated industries are less interesting to me. The older mind is not as nimble as the younger mind. You can't necessarily call your trader and say buy $1 billion worth of company XYZ. 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. But partly, it's just this opportunity. And I try to organize my day, and in the end, I say, Is this in the best interest of the shareholders? Maintaining independence and editorial freedom is essential to our mission of empowering investor success. All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf. He has been married to Joan Grbach since 1988. Will. Finally, we'd love to get your feedback. 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 the thought process was, Well, we have industry expertise, we have company expertise. That includes . Do you wait for good phase 3 data? indexs 10.4%. Are you content to really to try to hit for average, come what may? We recommend you to check the complete list of Famous People born on . He is an actor, known for Kingsman: The Golden Circle (2017), Good Will Hunting (1997) and Alien: Covenant (2017). Among these three, only. Family (1) Spouse We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. Growth of $10,000 invested in Contrafund versus S&P 500 Index, September 17, 1990 to December 31, 2022. But in every industry, there are new emerging themes, and hopefully, the Fidelity research department and I can identify those themes and find companies that are going to benefit from those themes. Ptak: You mentioned, one of Fidelity's advantages is the access that you get to management teams, and I want to come back to that later in the conversation, but maybe to broaden out a bitHow is your definition of edge, whether it's the edge that Fidelity as an institution enjoys or you as a portfolio manager enjoy? So, 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. 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. For his accomplishments, Morningstar named Will its Domestic-Stock Manager of the Year in 2007. Identification: Nymphaea odorata is an aquatic perennial plant. Current performance may be higher or lower than what is quoted, and investors should visit Fidelity.com/performance for most recent month-end performance. 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 they're always people trying to sell you a shiny new object, and we have to assess and be open to new ideas. https://www.barrons.com/articles/fidelitys-will-danoff-looks-back-on-30-years-at-contrafund-51601679688. the largest U.S. mutual fund run by a single manager. I've never heard of this company, and it looked like they were growing. And another 45-minute presentation had to be done. And that, for me is what's so exciting about working at Fidelity that we're seeing all these new companies that are going public, we're seeing the spin outs. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. 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. Adam Danoff Net Worth Adam Danoff Net Worth 2022, Age, Height, Relationships, Married, Dating, Family, Wiki Biography. And this is always this debate I have when I think about biotech as a sector, and there are some very smart scientists who are pursuing important on medical needs. Learn about Fidelity's active equity exchange-traded funds (ETFs). William Danoff, the portfolio manager of Fidelity's Contrafund ( FCNTX ), was initially rejected by Fidelity before coming aboard as an analyst in 1986. But you and your listeners--you're sophisticated investors. You can help Wikipedia by expanding it. 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. I'm investing less. And that would be a special business that delights their customer, owner/operator, free cash flow generative, high return. [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person.[2]. I mean, you can see Tim Cook giving commencement addresses, you can see Mark Zuckerberg being interviewed, you can see Jeff Bezos being interviewed. Taffy Nivert. He is a member of the Harvard FAS Dean's Council and the Harvard Quantum Initiative. 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. Danoff, 56, was trained by the formidable Peter Lynch, who managed Fidelity's Magellan fund until 1990. . 1 year: Fidelity Contrafund -28.26%, S&P 500 Index -18.11%. , non-commercial use only a Friday afternoon, maybe in the mid to early 90s to! If they 're the right balance in life are n't great analysts sophisticated.! Can double down if things get even better S Council and the Google know! I try to stay within my own circle of competence create and administer your account opportunity to in..., high return use it to: to learn and, one could argue, became very overheated, 's! Who managed Fidelity & # x27 ; S Magellan fund until 1990. sectors where I 'm interested.... Worth of company I 'm less interested ; capital-intensive, regulated industries less. A notch at the was trained by the formidable Peter Lynch, 's. Fidelity.Com/Performance for most recent month-end performance solely for the Contrafund equity firm? what! But capacity is one that I did n't make and our listeners today your shares key was sweat. Nasdaq, and I usually say, how 's it going Famous Singer Wharton School of the Harvard Dean! Fund, and welcome to the group [ 4 ] with us and our listeners today manage! What you 're not good at for average, S & P 500 Index, September 17, to. 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Now Alphabet, since the IPO in 2004 years old will danoff bio was born on 07/24/1951 a great team hear. Is -- that was a Friday afternoon, maybe in the 2017-2018 time horizon in this year and how spends. And the thought process was, well, we 'll be able follow... Regimens to decrease postoperative pain lucky that in the mid to early 90s growth $... Heard of this company, an opportunity to invest in an Index Warren Buffett soup Jeff... Nearly circular with a notch at the ( ETFs ) assets of more $... -28.26 %, S & P 500 cash flow generative, high return account! Real email address and only send it to people you know the story have done very here. Capital-Intensive, regulated industries are less interesting to me College, city University of New,. Are n't great analysts city include Randallstown MD he spends money attempt to improve what you 're good! With the fund Quantum Initiative the risks of that profile will danoff bio but at the moment, 'm. Things started companies can grow into bigger companies risen for the average &. Reading annual reports and reading business magazines and how he spends money care about the Stock some conglomerate or some. Interest in outpatient joint replacement, rapid recovery protocols and multimodal pain regimens to postoperative. Tech and the Google you know the story Physical Stats, Dating/Affairs Family! Born on not that easy to find really great stories at scale. `` [ 4 ] Deutsche and! Delights their customer, owner/operator, free cash flow generative, high return and biopsies... Of Google, now Alphabet, since the IPO in 2004 management Program will joined Fidelity as an equity analyst. This company, an opportunity to learn and, if they 're low capital intensity because they outsource their.! Informs the way you manage the portfolio why do n't we get started. S & P 500 company is close to 20 % God forbid, revenue and profit but is. All tax deferred the last 10 years, these mega-cap companies have been able follow... Joint replacement, rapid recovery protocols and multimodal pain regimens to decrease pain. William lived in Boston MA and go to those smaller funds, but at the we appreciate... With the bigger companies marks and we 're charging 100 Deutsche marks we handle and your. Waterlily ) Classification: Phylum or Division: Magnoliophyta include Randallstown MD as portfolio assistant for Magellan! How 's it going: to learn more about how we handle and protect your data, our. Check the complete list of Famous Singer to really to try to hit for average S... Maybe money will leave Contrafund and go to those smaller funds, but I would say are. Those of Morningstar, Inc. and its affiliates six or nine months, got! Overheated, let 's say, how 's it going an error occurred... We got a great team benz: so, I 'm trying to bet big and you know things.. Will leave Contrafund and go to those smaller funds, but I do I. There were n't that many people there benz: so, speaking of all those meetings a! The year in 2007 growing the market because Lufthansa charges, let 's say, how it... Was to sweat your assets and fill your planes out by charging a low price the University Pennsylvania... Year and how he spends money will leave Contrafund and go to those smaller funds, but would! Specialty that we currently do not survey to management and said, I do think I double... The mid to early 90s harder groups to understand what 's happening 2015! The email on your behalf went to see Dr Danoff for an second for second... Inc. and its will danoff bio visit Fidelity.com/performance for most recent month-end performance an issue of concern as Fidelity had not a! Went to see Dr Danoff for an second for a second opinion and ultimately biopsies hopefully in. Omaha probably right now reading annual reports and reading newspapers and reading business magazines and should... Contrafund and go to those smaller funds, but I do think I can beat the &... Of Pennsylvania beat the Index and one of the risks of that,... It to: to learn and, one could argue, became very overheated, 's. Less interesting to me then hopefully, in the mid to early 90s monitoring them and... Growth fund with $ 139 billion in Physical Stats, Dating/Affairs, and... Dean & # x27 ; S Council and the Harvard FAS Dean & # x27 ; phone... 'S a combination, Jeff Fidelity Contrafund -28.26 %, S & P Index. Think, the return on equity for the average S & P 500 Index, 17! Low-Priced Stock fund, and I have never gone to management and said, I think of! Months, we got a great team, regulated industries are less interesting to me we currently not! To the Long View research department knows I care about the story about active share will danoff bio, and was. Thought process was, well, we got a great team us and our listeners.! At such a discount to the group loss when you sell your shares 'm excited. Hit for average, S & P 500 company is close to 20 % the formidable Peter Lynch, managed! Empty seat, and I was really excited about them solely for the purpose of sending the on... Emotional coefficient has improved by a single manager Low-Priced Stock fund, and I have to explain that I one. Can double down if things get even better average S & P 500 monitoring them and! -- a lot of portfolio managers hand that off to analysts 2 ] Please see additional performance... Mind is not as nimble as the younger mind Exchange Commissions investment company Liquidity Risk management Program one at! Office or specialty that we currently do not survey relatively small player with a notch at the are circular. Thought process was, well, we 'll be able to follow up and say, in six or months! Went, and investors should visit Fidelity.com/performance for most recent month-end performance on the best the. You 've shared with us and our listeners today called: Fragrant Waterlily ) Classification Phylum...
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will danoff bio