FYI: Chipotle Mexican Grill’s (CMG) recent stock plunge didn’t make famed stockpicker Will Danoff queasy.
Danoff, manager of the market-beating $110 Fidelity Contrafund (FCNTX), stuck by shares of Chipotle in the final three months of 2015 as shares were guacamole-d by a spate of food-borne illnesses. Danoff said in a quarterly note to investors that Contrafund “held steady our investment in Chipotle … in part on management’s focus on productivity and comparable-restaurant sales.” Shares of the the fast-casual Mexican restaurant returned a negative 33% in the quarter after outbreaks of E. coli and norovirus sickened customers
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2016/01/21/fidelity-stockpicker-will-danoff-stuck-by-chipotle-berkshire-hathaway-in-4q/tab/print/
