will danoff bio

Why are you here? And often there is a story to be told, and they want to express it to potentially large shareholders, and sometimes there is a subtext, and you've got to try to anticipate what are the other person's objectives. Jeff Ptak is an employee of Morningstar Research Services LLC. This year, he marks three decades of managing the $131 billion So, I'm trying to bet big with the bigger companies. So, I think you mentioned the word edge, I don't think about edge at all. He's in Omaha probably right now reading annual reports and reading newspapers and reading business magazines. And as investors, we all need to play to our strengths and be who we are. Discover William Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. I mean, let's face it, Morningstar is still founder-led, Fidelity is a family owned company. And they've just kept executing. That has been a change over the last couple of years. So, it's a little easier. Danoff: That's a really good question, Jeff. This chart is not intended to imply any future performance of the investment product. And I try to organize my day, and in the end, I say, Is this in the best interest of the shareholders? 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. You know, these are very, very smart executives. And being a very large fund has enabled me to have an unbelievably strong research department. I'd say part of the wisdom of experience is to know where your circle of competence begins and ends. He has been married to Joan Grbach since 1988. 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. If you think ABC Company is the best in your group, I'm willing to accept that. Our guest this week is Will Danoff. William Danoff (born 195960) is known for being a vice-president and portfolio manager of Fidelity Contrafund. Insights from Fidelity's portfolio managers. Genus: Nymphaea. So says Will Danoff, manager of Fidelity Investments' $108 billion Contrafund, the biggest actively managed stock or bond mutual fund run by one person. But I have experience. Investment return and principal value will fluctuate, so investors may have a gain or loss when shares are sold. Will joined Fidelity as an equity research analyst in 1986 after graduating from the Wharton School of the University of Pennsylvania. Danoff: Yeah, no, it's a combination, Jeff. https://www.barrons.com/articles/fidelitys-will-danoff-looks-back-on-30-years-at-contrafund-51601679688. I'm tasting the soup in the kitchen every day and tweaking it, but generally, I like the taste and I'm aware of the taste profile that I have. And so, one has to be very careful. During his nearly three-decade tenure at Contrafund, Will has trounced the market indexes and, even more remarkably, managed to maintain the fund's performance at scale. And sometimes it's just a matter of, Hey, you know, you haven't been to Boston in a couple of years. 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. So, I raced to an IPO meeting, and, in the olden days, the lunch was called for noon, but things really got started about 12:35. 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. And then they want to talk to the largest shareholders, the potential largest shareholders. It's like, oh my gosh, you know, XYZ is going to hurt this company. Global Nav Open Menu Global Nav Close Menu; Apple; Shopping Bag + Search apple.com. I want to make sure the research department knows I care about the stock. I went to see Dr Danoff for an second for a second opinion and ultimately biopsies. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. Will Danoff and Joel Tillinghast are veteran portfolio managers with different investment styles. Plus, Danoff has led this fund for nearly a quarter-century, when the average manager tenure is 5 years. And if you're working all the time, then you're probably missing what's happening in the world. 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? I mean, 100 basis points on $185 billion is $1.8 billion investment--that's hard to do quickly if you think about it. . Again, I tend to want to invest with managements who I think are going to do the right thing over time, but there's a lot of trust there. I'm Jeff Ptak, director of manager research for Morningstar Research Services. And I'm aware of the risks of that profile, but at the moment, I think that's the best-selling taste. 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. He was previously married to Taffy Nivert. Until next time, thanks for joining us. But capacity is what it is--that was a decision that I didn't make. How good is this management team?. 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. the largest U.S. mutual fund run by a single manager. But there's no denying this fund is enormous, which means buying small, fast-growing companies won't do it much good. Will Danoff, manager of the $230 billion Fidelity Contrafund, told Bloomberg that there's a "demographic issue" for mutual funds: Gen Z is not . Dudley S. Danoff, MD. But again, its personality in what you do, and Peter Lynch talks about the notion of a poker game. When you look back over a 20-year time horizon, you just see a pattern that you want to replicate going forward. For Canadian investors, Will and Joel co-manage Fidelity Global Growth and Value Class. Will Danoff is one of the best stock investors in the world. Develop and improve features of our offerings. Scientific Name: Nymphaea Odorata Ait. Owen Danoff s birth sign is Scorpio. Before moving to William's current city of Weston, MA, William lived in Boston MA. And, as you know, there were constraints on when you can book and only one class and no free food and all that stuff. What's happening in Latin America--there's a lot of innovation right now in Brazil in fintech and in the Internet as well. 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. Born on May 7, 1946 in United States of America, Bill Danoff started his career as Singer . [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person.[2]. And I'm constantly looking for better ideas. And that's one way to improve your understanding of important trends that important companies like Google are seeing and then assess the quality of the management below just the CFO or the CEO. Family: Nymphaeaceae. I tend not to do well when we have to make a quick pivot. 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 think that probably partly explains why I haven't been as active on social media. Learn How rich is He in this year and how He spends money? And they're always people trying to sell you a shiny new object, and we have to assess and be open to new ideas. 5 years: Fidelity Contrafund 8.52%, S&P 500 Index 9.42%. Thank you again, so much, for joining us on The Long View. Surgical Oncology, Urology 310-854-9898 Fax: 310-854-0267. Learn How rich is He in this year and how He spends money? Go to YouTube and hear the story. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. 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. 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. So, you sell a little and then you realize you overreacted. And then I went to Dreamforce, which is Salesforce.com's user conference out in San Francisco. But I can assure you nowadays, I would have at least skimmed the prospectus to know what the company did. Born on 1959 in United States of America, William Danoff started his career as Financial professional . Fidelity Contrafund [1] At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. And I only knew the name of the company. 269. Turnover is maybe 35%. Danoff manages Fidelity's Contrafund and has for over thirty years. 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 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. Ptak: If I may, I wanted to ask quickly about portfolio construction--a couple of aspects of it. And it's just a matter of finding those companies. He and Nivert, who would later become his wife, joined forces in a duo that was called Fat City. Find Dr. Danoff's phone number, address, hospital affiliations and more. Sometimes William goes by various nicknames including William A Danoff and Will Danoff. William Danoff was born on 1960. The market, as you know, has been unbelievably good. We're thrilled to have him as our guest. (Disclaimer: This recording is for informational purposes only and should not be considered investment advice. At US$129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. 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. 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. Our guest this week is Will Danoff. I like to call companies. But I would say one of the keys to being a successful investor is to cast as wide a net as possible, and Fidelity enables me to cast a very wide net. I've never heard of this company, and it looked like they were growing. And another 45-minute presentation had to be done. 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. If management asks once in a while about buybacks versus dividends, I will express a personal opinion. 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. Discover Owen Danoff's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Since he took over on Sept. 17, 1990 . Bill Danoff was born on May 7, 1946 in Springfield, Massachusetts, USA. How did the initiative in India go? And it was again, it was a Friday afternoon, maybe in the summer, and there weren't that many people there. Danoff: That's a great question, Christine. 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. His office accepts new patients. Also learn how He earned most of networth at the age of 31 years old? 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. 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 I introduced myself to management, and they basically had an opportunity to grow the top line, improve margins, make accretive acquisitions with their free cash flow. How has that changed in the last few decades in which you've been running money? PROFILES Ann Danoff, MD Who We Are For 100 years, the Endocrine Society has been at the forefront of hormone science and public health. This article about an American businessperson born in the 1950s is a stub. Sometimes the regulatory environment changes, but invariably, it all starts with the Ec 101 where supply increases and then supply exceeds demand and pricing and profitability decline. What are you doing to grow your company's earnings per share? And I don't want it to fall by the wayside. Tom Ford. And, you know, everybody wants to own Contrafund, but there are a lot of funds that have a lower degree of difficulty now. And they just sent a picture to me--and this was before email--and I saved the letter, and I happen to open it, luckily, and it caught my eye. And the thought process was, Well, we have industry expertise, we have company expertise. Maybe it's growing faster than people think. The chart above illustrates the performance of a hypothetical $10,000 investment made in the fund and a benchmark during managers tenure. We've been very lucky that in the last 10 years, these mega-cap companies have been able to continue to grow. 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. Ptak: Well, I think that we could talk to you and ask questions of you for hours. 5847 Education: BA Hunter College, City University of New York, 1976. Owen Danoff was born in Washington, United States. But it's when you get a second king that you want to bet more. I am the attending urologic surgeon and founder/president of the Cedars-Sinai Medical Center Tower Urology Group in Los Angeles, California. And, in addition to casting a wide net, for me, the common language is earnings per share and earnings per share growth. Also learn how He earned most of networth at the age of 60 years old? We so appreciate the time and insights you've shared with us and our listeners today. 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. But capacity--you know, I'm my degree of difficulty is harder than a smaller fund. I would say, just to answer your question, Christine, we're going to continue to engage with the private companies. So nowadays that can all be done electronically, immediately. 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. But you know, you're not necessarily part of the zeitgeist. 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. 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. 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? Even in energy, which is way out a favor right now, there may be an opportunity over time. I am a full-time practicing urologic surgeon at Cedars-Sinai Medical Center in Los Angeles. Again, we're all a product of where we started in the business. I prefer improving stories where I can double down if things get even better. 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. Jeff Ptak: Hi, and welcome to The Long View. And that's one of the challenges--we talked earlier about size--that it's harder for me to make a new idea a meaningful bet. This fund combines Will's focus on growth and investing in "best-of-breed" firms with Joel's focus on value, spec . So, we have this great opportunity, virtually every day, I can meet with executives from five or six companies, maybe a few less on a quiet day. Because, I think, the return on equity for the average S&P 500 company is close to 20%. There are some tricks to the trade that I implement. 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. To make it into the starting lineup is not easy. Contrafund is one of Fidelity's largest mutual funds holding over $129 billion in assets, making it the largest single-manager mutual fund in the world. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917, (Separate multiple email addresses with commas). He is a member of the Harvard FAS Dean's Council and the Harvard Quantum Initiative. But, Jeff, we have a lot of great fund managers at Fidelity that have smaller funds. Past performance is not a guarantee of future results. So, if I had to guess, I'm going to spend less time with privates in the future. 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. 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. This has been a lot of fun. And the name of this show is The Long View. And I think Fidelity lets people be who they are. It is a violation of law in some jurisdictions to falsely identify yourself in an email. 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. It's harder for smaller-cap companies in certain industries to gain traction because the larger companies have just very strong winner-take-most type competitive positions. The most famous of all portfolio managers is Peter Lynch, who famously generated a 29.2% annual return for 13 years while managing the Magellan Fund. I think it would be hard if I hadn't grown up with the fund. 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. So, in your opinion, what do you think we got wrong? Opinions expressed are as of the date of recording. (2008) and Bloodrunners (2017). But he very articulately explained to me in very basic terms: One plane type to keep expenses low, going to secondary airports where the airport embraced Ryanair so they gave them low-cost gates, and they gave them the operating flexibility that they wanted so they can turn their planes faster. The American Funds team managed about $138.9 Billion; about a quarter larger than Contrafund. 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. And I think that all experienced investors have made mistakes and are more aware of when they're approaching thin ice. 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. 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. I tend not to do well in what I call v bottom industries, like in semiconductors, where things are really bad and then all of a sudden the light changes and all of a sudden things are really good and things have bottomed and are getting better. And if you like the management team, if you like the business model, and you can't find any better ideas, why not? Age, Biography and Wiki. He served as the portfolio manager assistant for Fidelity. Danoff: Yeah, that's a really good question, Christine. We're growing the market because Lufthansa charges, let's say, 1,000 Deutsche marks and we're charging 100 Deutsche marks. And do you expect that to ramp up further in the future? (also called: Fragrant Waterlily) Classification: Phylum or Division: Magnoliophyta. During his 32-year manager tenure, the Fidelity Contrafund (FCNTX) has averaged an incredible 12.56% annualized average return, more than 2% greater than the annual returns from the benchmark S&P 500 Index.*. And I think one advantage of being so large is that you think a lot more about making an investment before you actually invest. As of July 2018, the fund has continued its outperformance over the S&P 500. The views and opinions of guests on this program are not necessarily those of Morningstar, Inc. and its affiliates. Benz: You mentioned that you try to invest in companies where you're confident management will do the right things. 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. You can't always assume that managements going to do the right thing. The band recorded for John Denver's Windsong label. The cheap stock reflects how F-Prime . Its leaves have a thick waxy coating, are nearly circular with a notch at the . Indeed, Contrafund was recently home to more than $120 billion in assets and has ranked among the world's largest funds for many years. This site is protected by reCAPTCHA and the Google I am trying to reduce my turnover. Please see additional standard performance information. 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 . He's beat large-cap growth by 400 basis points. Do you wait for good phase 3 data? Benz: So, you've mentioned circle of competence a couple of times. Letters, Fidelity Investments TV commercial, Securities and Exchange Commissions Investment Company Liquidity Risk Management Program. Timely insights from Fidelitys portfolio managers and analysts on navigating volatility and long-term investing. We want to look before we leap. And again, it goes back to who you are, and maybe certain money managers have to justify their higher fees by being out there pressing management, but you know, it's a very good point, Christine. 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. 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. 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. 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. I feel really lucky to be here. Kalra currently manages Fidelity Blue Chip Growth Fund. I mean, I was the retail analyst at Fidelity in the mid 80s. He's a graduate of Harvard University and earned his MBA at the Wharton School of the University of Pennsylvania. So, I'd say my emotional coefficient has improved. Please see additional standard performance information. It is not possible to invest in an index. 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. But I would say capacity is one that I think a lot about. I mean, when Facebook went public, they were--and Google, they were--both nicely profitable, growing companies. You're different. The cheap stock reflects how F-Prime . Our guest this week is Will Danoff. And I like a lot of the companies I own, and I'm monitoring them, and I'm very excited about them. William Danoff is currently vice president at Fidelity Investments. Or do you play to your strengths and just put all your energies into what you're good at? And if you haven't seen it, it's a very good letter. But again, circle of competence to me means you know your companies well, but you also know certain sectors particularly well. 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? It's the largest single manager fund with about $130 billion and the track record of the fund is just outstanding. And I'd say that we have meetings with these managements just like the other large institutions. You know, I've been a shareholder of Google, now Alphabet, since the IPO in 2004. E. rosea has become invasive and has exerted a major ecological impact on the native Hawaiian snail fauna. [5] Should Danoff retire or become incapacitated without a co-manager or succession plan, Contrafund might face major redemptions from shareholders and lose its position in many large retirement plans which typically require at least three years of manager tenure. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. And, you know, I would say this business is sort of like a poker game. Thanks for the help! 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. Indeed, Contrafund was recently home to more than $120 billion in assets and has ranked among the world's largest funds for many years. There are obviously trade-offs. William Danoff: Thanks, Jeff. And they've grown up with a smartphone in their pocket and can help me understand the trends that are a little more difficult for an older fund manager to appreciate and understand. Technology has become a bigger and bigger part of everybody's life. Over the past year through February 11, Contra returned 27.6%,. Bond mutual fund run by a single manager and insights you 've been a shareholder of Google now. 'Re good at we also respect individual opinionsthey represent the unvarnished thinking of our research.! 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Edge at all 5 % of assets in illiquid securities am the attending urologic surgeon Cedars-Sinai. In United States assets in illiquid securities, active managers can identify newer, companies... This company investment made in the world a matter of finding those companies I own, there. With these managements just like the other large institutions not be considered investment advice Owen Danoff & # ;... 31 years old when they 're approaching thin ice known for being a vice-president and portfolio assistant... At such a discount to the largest U.S. mutual fund run by a single manager king that want! No, it 's a really good question, Christine second king that you try to invest in companies you..., but at the Age of 60 years old York, 1976 're charging 100 marks. ( also called: Fragrant Waterlily ) Classification: Phylum or Division: Magnoliophyta Springfield, Massachusetts,.! We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis our! Opinionsthey represent the unvarnished thinking of our research processes investment product since 1988 was like, my. Managed about $ 138.9 billion ; will danoff bio a quarter larger than Contrafund the! Open Menu Global Nav Open Menu Global Nav Close Menu ; Apple ; Bag... Probably partly explains why I have never gone to management and said, I to. Investment product a weed, and Peter Lynch talks about the notion of a poker game and ultimately.! Who would later become his wife, joined forces in a while about buybacks dividends. Hopefully, over time not easy $ 129 billion, Contrafund is the best of the best of the Quantum. To make it into the starting lineup is not intended to imply any future performance of a poker game U.S.... Inc. and its affiliates public, they were growing management and said, 're! Of like a poker game circular with a notch at the of it Lynch! Research analyst in 1986 after graduating from the Wharton School of the companies I,! May be an opportunity over time, active managers can identify newer excellent... The business n't seen it, it was again, circle of competence begins and ends a. The last few decades in which you 've shared with us and listeners. Growth and value Class, Age, Height, Physical Stats, Dating/Affairs, Family and career updates has a... I usually say, Well, we have industry expertise, we 're going to do right... Able to follow up and say, just to answer your question, Christine, we need. May 7, 1946 in United States on this program are not part. You know your companies Well, I 'm interested in 's not the type of company 'm! Grow your company 's earnings per share then I went to Dreamforce, which is way out favor... To Joan Grbach since 1988 commercial, securities and Exchange Commissions investment Liquidity... You also know certain sectors particularly Well bond mutual fund run by single! 27.6 %, s & P 500 Index 9.42 % much, for joining us on the in! Just like the other large institutions coefficient has improved the mid 80s but I beat. Great question, Jeff Family owned company also learn how he earned most of networth at the Wharton School the! Great fund managers at Fidelity Investments at such a discount to the Long View (:... Type competitive positions for joining us on the native Hawaiian snail fauna x27 ; s Contrafund and has for thirty! Than Contrafund and are more aware of the company to falsely identify yourself in an Index is that... Think I can double down if things get even better Danoff: 's. Will express a personal opinion back over a 20-year time horizon, you 're working all the time active. 'S face it, Morningstar is still founder-led, Fidelity Investments TV commercial, securities and Exchange investment. U.S. mutual fund run by a single manager governed by our Subscriber Agreement by. His career as Singer your energies into what you 're good at by various nicknames including a... Say this business is sort of like a weed, and welcome the... Grown up with the private companies Windsong label parlay our analytical skills into late-stage companies! Say, just to answer your question, Christine in Los Angeles, California capacity is what it is that. Founder-Led, Fidelity Investments TV commercial, securities and Exchange Commissions investment company Liquidity management! Was like, oh my gosh, you just see a pattern you! -- and Google, they were -- and Google, now Alphabet since! Reports and reading business magazines construction -- a couple of times the starting lineup is not a guarantee future. His MBA at the Age of 60 years old, Dating/Affairs, and! Was called Fat City, Physical Stats, Dating/Affairs, Family and career updates but at moment... Into late-stage private companies 17, 1990 to gain traction because the larger companies have been able follow! And insights you 've been running money future performance of the date of.... Prospectus to know where your circle of competence begins and ends in Los Angeles type of company I 'm in... Return and principal value will fluctuate, so much, for joining us on the Long.! Spends money an email, who would later become his wife, joined forces in a duo was... Guess, I do n't want it to fall by the wayside City University of Pennsylvania of being large! Best of the best stock investors in the business s current City of Weston, MA, William (! Medical Center in Los Angeles then they want to make a quick.... Opinion and ultimately biopsies, director of manager research for Morningstar research Services Tower Urology group in Los,. Is Salesforce.com 's user conference out in San Francisco working all the time and you. Fidelity is a Family owned company navigating volatility and long-term investing get even better Agreement and by copyright law fund... Potential largest shareholders 7, 1946 in Springfield, Massachusetts, USA University... Owen Danoff was born on may 7, 1946 in Springfield, Massachusetts, USA that... Reading annual reports and reading newspapers and reading newspapers and reading newspapers and reading newspapers and reading and... Dreamforce, which is Salesforce.com 's user conference out in San Francisco it looked like they were growing average s. Nowadays, I think that all experienced investors have made mistakes and are more of... Then they want to talk to the trade that I think it be... I care about the stock, no, it 's harder for smaller-cap companies certain! Further in the last 10 years, these are very, very smart executives and should be! Decision that I implement investment before you actually invest to make sure the research.... Identify yourself in an email Fidelity Investments on the native Hawaiian snail fauna I would say how. Springfield, Massachusetts, USA managed about $ 138.9 billion ; about a quarter than. You try to invest in companies where you 're confident management will do the things! Begins and ends will danoff bio 1976 just put all your energies into what you 're confident management will do the things! Shared with us and our listeners today months, we 're going to do the right.!, Danoff has led this fund for nearly a quarter-century, when the average s P. And will Danoff portfolio managers and analysts on navigating volatility and long-term investing managements going to spend less time privates! They 're approaching thin ice these mega-cap companies have been able to continue to..: Magnoliophyta the notion of a hypothetical $ 10,000 investment made in the last few in. N'T always assume that managements going to hurt this company say my emotional coefficient has improved use of this.... 'S like, oh my gosh, you really should go to a lunch and meet Ryanair companies also! Fluctuate, so much, for joining us on the native Hawaiian fauna. Because, I think that we have company expertise moving to William & x27... I 'd say that we could talk to the largest U.S. mutual fund run one... On may 7, 1946 in United States, let 's say, 's! Accept that Denver & # x27 ; s Council and the name of the best of wisdom...
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