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:
“A black boxer’s career is the perfect metaphor for the career of a black male. Every day is like being in the gym, sparring with impersonal opponents as one faces the rudeness and hostility that a black male must confront in the United States, where he is the object of both fear and fascination.”
—Ishmael Reed (b. 1938)
“The 19-year-old Diana ... decided to make her career that of wife. Today that can be a very, very iffy line of work.... And what sometimes happens to the women who pursue it is the best argument imaginable for teaching girls that they should always be able to take care of themselves.”
—Anna Quindlen (b. 1952)
“In time your relatives will come to accept the idea that a career is as important to you as your family. Of course, in time the polar ice cap will melt.”
—Barbara Dale (b. 1940)