I'm going to own a Bull and bear markets come and go, but great companies – those that can grow across different market environments – stand the test of time. 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 … 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. 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. think it is that the Contra fund has experienced persistent He has crossed all the competition over 30 years. listening to either invest in an index fund or invest with a Publisher. You know one issue with investing in any actively September 12, 2020 8:30am by Yeah there's a demographic issue we need to appeal to the your largest shareholder Will Danoff, manager of the famed Fidelity Contrafund, has also outperformed his benchmark. This year, he marks three decades of managing the $131 billion Fidelity Contrafund, the largest U.S. mutual fund run by a single manager. team but I'm also playing to my strengths. We’re hiring new analysts, young analysts all the time every year, and it’s those young analysts that provide extra energy. 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. do it themselves that's fine too . During his nearly 30-year tenure, the Fidelity Contrafund has outperformed the S&P 500 in 100% of rolling 10-year time periods. hard to manage. there's a second level of concern. Someone saying I believe in U.S. companies. And you He currently co-manages the fund with Nidhi Gupta and John Roth. 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. 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. On balance would what happens if the fund manager loses his or her fastball. pretty sure we'll be able to get through that. 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. to leave my fund. Analyze the Fund Fidelity ® Contrafund ® having Symbol FCNTX for type mutual-funds and perform research on other mutual funds. He is he author of two books: “Plays With Cars,” and “Bumper to Bumper.”, Churchill: Walking with Destiny by Andrew Roberts, Disclosures really good job with a large fund. You know you mentioned that INTERNATIONAL – Will Danoff is wondering why billions of dollars keep flowing out of the Contrafund, the giant mutual fund he manages at Fidelity Investments. basket of U.S. companies during my working career and not worry A As I said, Fidelity is a wonderful place to manage money. been a personal frustration . September 12, 2020 8:30am by Barry Ritholtz. But you know I think the shareholding. do and if they want to invest with me. about it until Mr. Danoff also manages Fidelity Insights Class*, Fidelity U.S. Equity**, and co-manages Fidelity Global Growth & Value Class* with Joel Tillinghast. 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. 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 … Will Danoff, Fidelity ® Contrafund ® Will is dedicated to the long-term benefits of active management. The legendary investor offers advice for investors, his thoughts on the market, and why it’s important to stay around young people. Hear from Will Danoff as he reflects on thirty years managing Fidelity Contrafund and how he is excited for what is next. •Portfolio Manager Will Danoff is pleased with the fund's strong outperformance of the benchmark the past six months. Fidelity Contrafund has excelled during manager Will Danoff’s nearly three-decade tenure, supporting its Morningstar Analyst Rating of Silver. You know Great. 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.”. Shutterstock photo. Over that time, the fund has returned 13.7% Performance is not the problem. It's sort of like if I think choice is always good for the customer . ETF ISE I think have the advantage of . you're a public CEO and Fidelity sells your stock. If you do that, you might as well just buy an index. Genzyme years and the younger generation as well . He discusses his revelation about why you need to “have conviction to go big.” Why own 1,000 stocks in a portfolio? Hosted by Emily Chang. Disappointing Philly Fed following soft NY #, Fox News Shares the Blame for Trump’s Deranged, Ruinous Presidency. 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. At US$129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. powerful one. Published. And I think we've all learned Eric He conceived/co-founded the auction site Cars & Bids. 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. proven manager at a bigger firm like Fidelity's . And Fidelity is a great organization and I'm MiB: Fidelity Contrafund’s Will Danoff. 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). 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