December 16, 2024 | less than a minute read

Stock Pickers Can Still Be Winners

Get in touch

Navin Raina

Managing Director

Get in touch

Navin Raina

Managing Director

Will Danoff manages c $300bn of client money. He has outperformed the S&P 500 over almost any conceivable time frame — one, three, five, 10, 20, 25 and even 34 years, according to Morningstar Inc. data. Since his arrival at Fidelity in September 1990, Contrafund has delivered a total return of 8,870%, data compiled by Bloomberg show, more than double the S&P benchmark — and almost 3 percentage points better on an annualized basis. And he is having his best year since 1991. Index schmindex.

Since that moment in 1990 — 34 years and counting — Danoff has presided as the sole manager of the Fidelity Contrafund, a $155 billion behemoth that’s now a major investor in Zuckerberg’s Meta Platforms Inc. and a fixture of many 401(k) plans. In total, he manages about $300 billion of client money.

www.bloomberg.com/...