Jason Weiner is like Green Bay Packers quarterback Aaron Rodgers.
Season after season he keeps performing at a high level.
Since Feb. 2 2007 when Weiner became the signal caller for the now $1.3 billion Fidelity Growth Discovery Fund and its adviser sold twin $2.8 billion Advisor Equity Growth Fund Growth Discovery has notched an 8.48% average annual gain vs. 7.03% for the SP 500. Its performance ranks in the top 30% of its large cap growth peers tracked by Morningstar Inc.
Fidelity Growth Discovery's Jason Weiner is drawn to companies like Illumina that revolutionize their fields. View Enlarged Image
Weiner has used the same approach for most if not all of his tenure he says. He seeks undervalued growth stories and stocks with potential for price earnings expansion avoiding overly costly names.
Weiner 45 years old talked with IBD from his office in Boston about how he invests.
IBD Jason if you ever had a mentor who was it
Weiner I've had tons of mentors. On the rare occasions when (Fidelity) rolls me out to meet MBAs visiting Fidelity I tell them they should find a mentor either outside their workplace or inside or preferably both.
It's super important going back to when I was 15 and had my first job. I got it from a family friend Lou who was a great influence. It was Lou Nargiso and he owned a gas station auto repair shop. He was a World War II vet and he learned auto repair in the army.
He was a very well educated person and philosophical. He liked to debate things. Everyone who worked for Lou was very loyal to him as was he to them. His shop was also kind of a clubhouse for his World War II vet buddies and I hung out with them. Good times
IBD And at Fidelity
Weiner At Fidelity Will Danoff (manager of Fidelity's $111.1 billion Contrafund $28.9 billion Advisor New Insights $6.4 billion Series Opportunistic Insights and $884.8 million Advisor Series Opportunistic Insights has been a great mentor.
I don't remember exactly when it kicked off. It might have been around 1993. We were both on a train. Will was going to southern Connecticut visiting his parents. We sat next to each other. I worked for him later. I gained a lot of wisdom. Will is super focused on studying each decade understanding monster stocks in each decade and being in the elephant hunting business hunting stocks that go on to make monster gains.
If you owned Dell in 1990 for the next 10 years nothing else mattered. It's the beauty of incredible growth stories. Will was focused on that and I have adopted that strategy.
No comments:
Post a Comment