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FYI: So far this year, mutual fund manager Will Danoff has made a staggering amount of money for his shareholders — something like $8 billion. And what’s his take on 2014?
“It’s been a tough year, a frustrating year,” he told me one day last week at his office building next to South Station. “I just haven’t executed as well as I should have.”
Danoff recently marked his 24th anniversary as the manager of Fidelity Contrafund, the kind of tenure rarely seen in the mutual fund business. Despite his current frustrations, Contrafund’s 2014 performance trails its benchmark Standard & Poor’s 500 index by only a couple of percentage points in a good year for the stock market.
