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Fidelity Contrafund
Fidelity Contrafund (symbol FCNTX) is a mutual fund operated and provided by Fidelity Investments. Its current manager is William Danoff, who has headed the fund since 1990. Contrafund's AUM ( assets under management) as of July 2015 total over 112 billion USD. As of 2015 Contrafund was the second-largest actively-managed mutual fund in the US by assets, after AGTHX (Growth Fund of America, managed by American Funds), and was the largest mutual fund of any type managed by an individual. History The fund's name stems from its original mandate in 1967: "the fund's mission was to take a contrarian view, investing in out-of-favor stocks or sectors." This strategy has changed since the 1990s to become a fund focused on growth investing in large companies, and the Contrafund's strong history of growth has led to its being "a stalwart of many 401(k) plans". In 2015, Danoff's 25-year solo management became an issue of concern as Fidelity had not named a co-manager for Contrafund. Should ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mutual Fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital') and open-ended investment company (OEIC) in the UK. Mutual funds are often classified by their principal investments: money market funds, bond or fixed income funds, stock or equity funds, or hybrid funds. Funds may also be categorized as index funds, which are passively managed funds that track the performance of an index, such as a stock market index or bond market index, or actively managed funds, which seek to outperform stock market indices but generally charge higher fees. Primary structures of mutual funds are open-end funds, closed-end funds, unit investment trusts. Open-end funds are purchased from or sold to the issuer at the net asset value of each share as of the close ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fidelity Investments
Fidelity Investments, commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts. The company was established in 1946 and is one of the largest asset managers in the world with $4.5 trillion in assets under management, now as of December 2021 their assets under administration amounts to $11.8 trillion. Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, index funds, wealth management, securities execution and clearance, asset custody, and life insurance. History The "Fidelity Fund" became Fidelity Investments under Edward C. Johnson II; incorporated in Massachusetts, May 1, 1930. During the Great Depression, the "Fidelity Fund" was the only fund approved by John C. Hull in his term in office as Securities Director for Massachusetts because of widesprea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Danoff
William Danoff (born 1959–60) is known for being a vice-president and portfolio manager of Fidelity Contrafund. At US $129 billion, Contrafund is the largest actively managed stock or bond mutual fund run by one person. Education and early career Danoff has a degree in history from Harvard and an MBA from Wharton. First joining Fidelity as an analyst in 1986, Danoff trained under Peter Lynch, who managed Fidelity's Magellan Fund from obscurity in the 1970s to the world's largest mutual fund in the 1980s. Fidelity Contrafund William Danoff is the single manager of the Fidelity Investments' flagship mutual fund Contrafund. 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. Danoff's Contrafund mutual fund outperformed the S&P 500's trailing one year, three year, five year, ten year and fifteen year total returns, making the mutual fund one of only three to accomplish such an ach ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Funds
Capital Group is an American financial services company. It ranks among the world's oldest and largest investment management organizations, with over $2.6 trillion in assets under management. Founded in Los Angeles, California in 1931, it is privately held and has offices around the globe in the Americas, Asia, Australia and Europe. Capital offers a range of products focused on active management, including more than 40 mutual funds through its subsidiary, American Funds Distributors, as well as separately managed accounts (or collective investment trusts), private equity, investment services for high net worth investors in the U.S., and a range of other offerings for institutional clients and individual investors globally. History In 1931, Jonathan Bell Lovelace founded the investment firm, ''Lovelace, Dennis & Renfrew'', which would eventually become Capital Group. Lovelace had previously been a partner in the stock Broker, brokerage firm ''E.E. MacCrone'', where he explored the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contrarian Investing
Contrarian Investing is an investment strategy that is characterized by purchasing and selling in contrast to the prevailing sentiment of the time. A contrarian believes that certain crowd behavior among investors can lead to exploitable mispricings in securities markets. For example, widespread pessimism about a stock can drive a price so low that it overstates the company's risks, and understates its prospects for returning to profitability. Identifying and purchasing such distressed stocks, and selling them after the company recovers, can lead to above-average gains. Conversely, widespread optimism can result in unjustifiably high valuations that will eventually lead to drops, when those high expectations do not pan out. Avoiding (or short-selling) investments in over-hyped investments reduces the risk of such drops. These general principles can apply whether the investment in question is an individual stock, an industry sector, or an entire market or any other asset class. S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Growth Investing
Growth investing is a style of investment strategy focused on capital appreciation. Those who follow this style, known as ''growth investors'', invest in companies that exhibit signs of above-average growth, even if the share price appears expensive in terms of metrics such as price-to-earnings or price-to-book ratios. In typical usage, the term "growth investing" contrasts with the strategy known as value investing. However, some notable investors such as Warren Buffett have stated that there is no theoretical difference between the concepts of value and growth ("''Growth and Value Investing are joined at the hip''"), as growth is always a component in the calculation of value, constituting a variable whose importance can range from negligible to enormous and whose impact can be negative as well as positive. Buffett has recognized the influence of his business partner Charlie Munger on this view, which is best expressed by the famous Buffett saying ''"It's far better to buy a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Large Cap
Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by the number of common shares outstanding. Since outstanding stock is bought and sold in public markets, capitalization could be used as an indicator of public opinion of a company's net worth and is a determining factor in some forms of stock valuation. Description Market capitalization is sometimes used to rank the size of companies. It measures only the equity component of a company's capital structure, and does not reflect management's decision as to how much debt (or leverage) is used to finance the firm. A more comprehensive measure of a firm's size is enterprise value (EV), which gives effect to outstanding debt, preferred stock, and other factors. For insurance firms, a value called the embedded value (EV) has been used. It is also u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
401(k)
In the United States, a 401(k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401(k) of the U.S. Internal Revenue Code. Periodical employee contributions come directly out of their paychecks, and may be matched by the employer. This legal option is what makes 401(k) plans attractive to employees, and many employers offer this option to their (full-time) workers. There are two types: traditional and Roth 401(k). For Roth accounts, contributions and withdrawals have no impact on income tax. For traditional accounts, contributions may be deducted from taxable income and withdrawals are added to taxable income. There are limits to contributions, rules governing withdrawals and possible penalties. The benefit of the Roth account is from tax-free capital gains. The net benefit of the traditional account is the sum of (1) a possible bonus (or penalty) from withdrawals at tax rates lower (or higher) than at contributio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Funds
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company is divided, or these shares considered together" "When a company issues shares or stocks ''especially AmE'', it makes them available for people to buy for the first time." (Especially in American English, the word "stocks" is also used to refer to shares.) A single share of the stock means fractional ownership of the corporation in proportion to the total number of shares. This typically entitles the shareholder (stockholder) to that fraction of the company's earnings, proceeds from liquidation of assets (after discharge of all senior claims such as secured and unsecured debt), or voting power, often dividing these up in proportion to the amount of money each stockholder has invested. Not all stock is necessarily equal, as certain classes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
