Contrafund's Will Danoff Bullish For 2013: What Stocks He Likes
From market folly January 31, 2013 - 11:37am
Will Danoff is manager of Fidelity's Contrafund and he recently sat down with Fidelity Viewpoints to share his outlook for 2013. He's bullish and so we wanted to highlight what stocks he's looking at.
On Why He's Bullish This Year
"I’m bullish. Stocks are relatively cheap, and U.S. companies have become much leaner. Management teams were worried about the environment, so they were conserving cash and allocating capital prudently. M&A activity was down about 20% in 2012. Boards were saying, 'We’re not going for the long ball. We’re going to focus on maintaining lean inventories, low capital spending, and tight expenses.' As a result, companies are nicely profitable and generating a lot of cash.
So looking forward, I’m hopeful that we’re going to have modest top-line growth that will lead to decent earnings-per-share growth, good free-cash-flow yields, and total ret...
This is the largest topic on ewallstreeter. This topic aggregates news and investment advice from over 200 different news sources. It covers all the financial markets, collectively known as Wall Street, as well as international news which affects our mark