Fidelity’s Contrafund: One Manager’s Mission

Will Danoff, the manager of Fidelity’s $108 billion Contrafund– the biggest actively managed stock or bond mutual fund run by a single person—believes that “humans have fundamental investing advantages that no machine will ever replace,” writes Jason Zweig of The Wall Street Journal. Since taking over the fund in 1990, Danoff has averaged a 12.7% annual return (outperforming the S&P by nearly 3% per year). However, over the past five years, writes Zweig, Contrafund has… Read More