Will Danoff on Innovation and Investments (Podcast)

Masters in Business

Bloomberg

Entrepreneurship, Investing, Business

4.4 • 2.2K Ratings

🗓️ 11 September 2020

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bloomberg Opinion columnist Barry Ritholtz speaks with Will Danoff, who is the Contrafund portfolio manager at Fidelity. During his nearly 30-year tenure, the Fidelity Contrafund has outperformed the S&P 500 in 100% of rolling 10-year time periods. The Fidelity Contrafund is a large-cap growth fund with $139 billion in assets under management.

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Transcript

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0:00.0	There's so much news happening around the world that we're somehow supposed to stay on top of.
0:05.7	That's why we launched The Big Take.
0:08.3	It's a daily podcast from Bloomberg and I Heart Radio that turns down the volume a bit
0:14.0	to give you some space to think.
0:16.4	I'm Wes Kosova.
0:17.7	Each weekday I dig into one important story and talk about why it matters.
0:23.6	Listen to The Big Take on The I Heart Radio app, Apple Podcasts, or wherever you listen.
0:31.0	This is Masters in Business with Barry Rittoltz on Bloomberg Radio.
0:37.0	This week on The Podcast I have such an extra special guest.
0:42.5	His name is Will Danoff.
0:44.6	He runs Fidelity's Contra Fund.
0:47.6	It's the largest single manager fund with about $130 billion and the track record of the
0:53.5	fund is just outstanding.
0:55.3	He has crushed all the competition over 30 years.
0:59.2	His beat, large cap growth by 400 basis points.
1:03.8	He's beat the S&P 500, 300 basis points.
1:08.4	Not only has he outperformed on an annual basis, if you put money into his fund versus the
1:14.3	S&P 500 in 1990 when he started, his fund is now worth two and a half times more than
1:21.8	the indexes.
1:23.4	This is really a masterclass on how to think about active management.
1:28.4	What you need to do to engage in stock picking, why it's so difficult, and why you need a powerful
1:36.1	team of experts around you to help you with this.
	...

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