Career
After graduating from college, Foster trained to be an infantry platoon leader and served as the intelligence officer for the First Guided Missile Brigade, Fort Bliss, Texas. In 1964, he began his investment career, joining the Brittingham family-controlled NYSE member firm in Wilmington, Delaware, where he eventually rose to the position of Director of Research.
In 1974, Friess and his wife launched their own investment management firm, Friess Associates, LLC. Although success came slowly in its early years, the firm grew to over $15.7 billion in assets managed. Forbes named the Brandywine Fund, a Friess Associates flagship that boasted an average of 20% annual gains in the 1990s, as one of the decade's top performers.
In 2001, Friess Associates partnered with Affiliated Managers Group (AMG), an asset-management firm, to facilitate succession planning and to spread ownership among its partners. AMG acquired a majority interest in Friess Associates in October 2001 and held a 70% interest as of September 2011. A broad group of Friess partners, including senior management and researchers, held 20% equity ownership, while the Friess family retained 10%.
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Famous quotes containing the word career:
“John Brown’s career for the last six weeks of his life was meteor-like, flashing through the darkness in which we live. I know of nothing so miraculous in our history.”
—Henry David Thoreau (1817–1862)
“He was at a starting point which makes many a man’s career a fine subject for betting, if there were any gentlemen given to that amusement who could appreciate the complicated probabilities of an arduous purpose, with all the possible thwartings and furtherings of circumstance, all the niceties of inward balance, by which a man swings and makes his point or else is carried headlong.”
—George Eliot [Mary Ann (or Marian)
“I seemed intent on making it as difficult for myself as possible to pursue my “male” career goal. I not only procrastinated endlessly, submitting my medical school application at the very last minute, but continued to crave a conventional female role even as I moved ahead with my “male” pursuits.”
—Margaret S. Mahler (1897–1985)