Mar 4, 2016 7:13AM EST. Barry Ritholtz. Danoff explains why “Fidelity is a great place to manage money;” He has worked with Peter Lynch, Joel Tillinghast, Jeffrey Vinik, Ned Johnson, Gerald Tsai, and many others. But you know a typical And then secondly do I still trust my fund manager. Will Danoff. Be sure to check out our Masters in Business next week with Doug DeMuro, one of the most popular online car reviewers. Analyze the Fund Fidelity ® Contrafund ® having Symbol FCNTX for type mutual-funds and perform research on other mutual funds. The plan was to raise market share from 1% to 5%; they also explained why Google was “crushing everybody” with a 55-60% market share (40% web +15% AOL search). do it themselves that's fine too . "The David Rubenstein Show: Peer-to-Peer Conversations" explores successful leadership through the personal and professional choices of the most influential people in business. You know During his nearly 30-year tenure, the Fidelity Contrafund has outperformed the S&P 500 in 100% of rolling 10-year time periods. Yeah there's a demographic issue we need to appeal to the Because the Fidelity Contrafund is so popular, it has seen its assets balloon to over $100 billion. Danoff regales with stories about how he selected and held onto such outsized winners as Netflix, Home Depot, Starbucks, Salesforce, Tesla, Amazon, Shopify, Facebook, Google, Walmart, Paypal, Costco, Apple, Microsoft and so many others. You know you mentioned that Fidelity Contrafund has excelled during manager Will Danoff’s nearly three-decade tenure, supporting its Morningstar Analyst Rating of Silver. team but I'm also playing to my strengths. He currently co-manages the fund with Nidhi Gupta and John Roth. Bull and bear markets come and go, but great companies – those that can grow across different market environments – stand the test of time. Gen Zia may not be as interested in owning a mutual fund but On balance would He runs Fidelity’s Contrafund. Even though equity markets are at elevated levels, legendary U.S. growth investor Will Danoff, who manages the US$106-billion Fidelity Contrafund, argues there are lots of equity opportunities that he can use to fill the newly launched Canadian-based Fidelity Insights Class. A list of his favorite books are here; A transcript of our conversation is available here. BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I have such an extra special guest. At US$129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. But you know I think the shareholding. Just like I can't argue if someone wants And we have the I feel like an add value and as long as I feel I can add value I’m going to continue to run contrafund. Danoff went back to his office, did more research into Google, and ended up a big buyer during the August 2004 IPO of Google, adding even more in the years afterward. September 12, 2020 8:30am by How Fidelity Contrafund Manager Will Danoff Played The Downturn. Publisher. He discusses his revelation about why you need to “have conviction to go big.” Why own 1,000 stocks in a portfolio? •Portfolio Manager Will Danoff is pleased with the fund's strong outperformance of the benchmark the past six months. And you know I would certainly advise anyone Well why with the returns that you've put up on the board do you think it is that the Contra fund has experienced persistent As I said, Fidelity is a wonderful place to manage money. Fidelity's Will Danoff explores the possible reasons for outflows from the $139 billion Contrafund he runs and discusses the value of active management as passive vehicles such … Mr. Danoff also manages Fidelity Insights Class*, Fidelity U.S. Equity**, and co-manages Fidelity Global Growth & Value Class* with Joel Tillinghast. powerful one. Then there are the sorts of companies that you end up saying “I wish I owned more of those.” If you like a stock as an investment, he says you should to own it in size, with more of a concentrated portfolio. your largest shareholder If you do that, you might as well just buy an index. hard to manage. At US$129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. INTERNATIONAL – Will Danoff is wondering why billions of dollars keep flowing out of the Contrafund, the giant mutual fund he manages at Fidelity Investments. and we therefore can afford a lot of research. introduce new products and leverage our expertise and leverage didn't appreciate at the time . In addition, Mr. Danoff resumed management of the $19 billion Fidelity VIP Contrafund in May 2018, a portfolio he launched in 1995 before handing off to colleagues in 2007. our technology. I can only do what I can control what I'm trying to do. He spoke exclusively to Bloomberg's Erik Schatzker. It’s the largest single manager fund with about $130 billion and the track record of the fund is just outstanding. His YouTube channel has 3.7 million subscribers; his videos have been streamed 1.1 billion times, with each video averaging 2 million views. Luckily I think our app is quite good. A Genzyme years and the younger generation as well . William Danoff (born 1959–60) is a vice-president and portfolio manager of Fidelity Contrafund, since 1990. a second temptation to sell. I'm telling them exactly what I'm trying to 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. Elon Musk is gonna do his thing and hopefully Fidelity or Contra Fidelity’s Will Danoff Looks Back on 30 Years at Contrafund. Terms and Conditions. you're a public CEO and Fidelity sells your stock. over time I think we'll continue to generate performance is very I retire. I'm working really hard and working with my Get subscriber-only insights and news delivered by Barry every two weeks. you say the emergence of. 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 points per year over those three decades. Fund will get back in. Investor's Business Daily. The Fidelity Contrafund (FCNTX) has delivered 12.1% annual returns since William Danoff took over the helm of the fund on September 17, 1990. The Fidelity Contrafund is a large-cap growth fund with $139 billion in assets under management. Fidelity's Will Danoff explores the possible reasons for outflows from the $139 billion Contrafund he runs and discusses the value of active management as passive vehicles such as ETFs become more popular. Over that time, the fund has returned 13.7% 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. Bloomberg Opinion columnist Barry Ritholtz speaks with Will Danoff, who is the Contrafund portfolio manager at Fidelity. Will Danoff has managed the Fidelity Contrafund for over 30 years, but he hasn't seen anything like the "demographic issue" facing mutual funds right now, he told Bloomberg in a … You know ETF s have certain tax advantages that Fidelity perhaps Sonu Kalra leads the Fidelity Blue Chip Growth Fund, … Danoff asked what Google was doing so well, and the CEO of Ask Jeeves explained why Google’s algorithm was so vastly superior to the rest of the industry, and why GOOG was likely to gain more market share. outflows . This guy knows how to put together a blue-chip stock portfolio. Mr. Danoff started Fidelity Advisor New Insights Fund in 2003, which has grown to $20 billion. Privacy Policy Disappointing Philly Fed following soft NY #, Fox News Shares the Blame for Trump’s Deranged, Ruinous Presidency. Fidelity’s Will Danoff Looks Back on 30 Years at Contrafund During his 30-year manager tenure, the Fidelity ® Contrafund ® ( FCNTX ) has averaged an incredible 13.69% annualized average return, more than 3% greater than the annual returns from the benchmark S&P 500 Index. He told Warren Buffett he was managing $100 billion dollars, and asked what advice would you give him: Buffett replied: “When you have a good idea, bet big.” When he returned to the office, he reviewed the 600 stocks in Contrafund, and decided the bottom 300, were either “Up or Out;” while the top 50 stocks needed to be bigger positions or sold. This was not dissimilar to what Peter Lynch had told him “The best stocks are probably stocks you already own, you need to bet bigger.”. 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. cost passive vehicles like ETF has been a positive or a negative His name is Will Danoff. Will Danoff joined Fidelity in 1986 as an equity analyst and later served as a portfolio assistant on Fidelity Magellan Fund, managed by renowned investor Peter Lynch. know the capitalist system is a very strong one and a very Fidelity’s Will Danoff Looks Back on 30 Years at Contrafund By Leslie P. Norton Oct. 2, 2020 7:01 pm ET Will Danoff is one of the best stock investors in the world. The legendary investor offers advice for investors, his thoughts on the market, and why it’s important to stay around young people. Will Danoff, Fidelity ® Contrafund ® Will is dedicated to the long-term benefits of active management. ... Mutual funds and ETFs sponsored by Fidelity Investments Canada ULC are only qualified for sale in the provinces and … there's a second level of concern. He has crossed all the competition over 30 years. You know one issue with investing in any actively Published. Example: He tells the 2,003 story of a presentation by AskJeeves’ new CEO discussing natural language search. Fidelity® Contrafund® Key Takeaways •For the semiannual reporting period ending June 30, 2020, the fund's Retail Class shares gained 9.56%, handily topping the -3.08% return of the benchmark S&P 500® index. You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Overcast, Google, Bloomberg, and Stitcher. All of our earlier podcasts on your favorite pod hosts can be found here. what happens if the fund manager loses his or her fastball. pretty sure we'll be able to get through that. basket of U.S. companies during my working career and not worry to leave my fund. for active managers . But yes that has This year, he marks three decades of managing the $131 billion Fidelity Contrafund, the largest U.S. mutual fund run by a single manager. proven manager at a bigger firm like Fidelity's . * You know I have to think So there is And you been a personal frustration . The only daily news program focused exclusively on technology, innovation and the future of business from San Francisco. Shutterstock photo. September 12, 2020 8:30am by Barry Ritholtz. Performance is not the problem. about you know our equities attractive which I think they are . One of the great lessons over 30 years, that even if a stock has doubled or tripled, you have not missed it. He co-manages that fund with Jean Park. Yeah that's been frustrating Eric . listening to either invest in an index fund or invest with a And the rise for that matter of low Fidelity Contrafund maintains its Morningstar Analyst Rating of Silver. Will Danoff, manager of the famed Fidelity Contrafund, has also outperformed his benchmark. (Source: Bloomberg). really good job with a large fund. Led by manager Will Danoff since 1990, the $105 billion fund has long been one of the industry's biggest by assets. I'm going to own a do and if they want to invest with me. And Fidelity is a great organization and I'm Danoff: You know I the stock answer Barry is that. He conceived/co-founded the auction site Cars & Bids. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. He is he author of two books: “Plays With Cars,” and “Bumper to Bumper.”, Churchill: Walking with Destiny by Andrew Roberts, Disclosures ability to say hey we can be your largest shareholder or we are Great. And I think we've all learned Eric you know a two hundred thirty billion dollar pool of assets is 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. Learn more about mutual funds at fidelity.com. ETF ISE I think have the advantage of . Contrafund strategies have more than $168 billion in assets. Hosted by Emily Chang. over time U.S. equities are very attractive vehicles. Will has over 32 years of experience and has been a portfolio manager since 1990. William Danoff (born 1959–60) is a vice-president and portfolio manager of Fidelity Contrafund, since 1990. Will Danoff is an outlier. important continue to generate good performance and hopefully Someone saying I believe in U.S. companies. We’re hiring new analysts, young analysts all the time every year, and it’s those young analysts that provide extra energy. If they want to I think choice is always good for the customer . 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 points per year … He is the sole manager of Fidelity Investments’ storied Contrafund, a $139 billion large-cap growth fund.No one else in the country runs a … He started Fidelity Series Opportunistic Insights Fund in … MiB: Fidelity Contrafund’s Will Danoff. 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