The painful start to the year for global equities has knocked the performance of many star stockpickers, with Facebook parent Meta’s disappointing results this week deepening the pain in some technology stocks.
Among those nursing outsized losses is William Danoff. His $131bn Fidelity Contrafund — one of the investment industry’s largest traditional, actively managed equity funds — has fallen almost 10 per cent for 2022 after shares in Facebook owner Meta, its biggest bet, fell a quarter in a single day.
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