America’s Best Stock Picker Keeps Beating Passive Funds
Fidelity’s Adam Benjamin keeps proving wrong the narrative that actively managed funds are inferior to those tracking indexes.
Yes, picking stocks can be a winning strategy.
Photographer: Michael M. Santiago/Getty Images
For the third time in four years, the stock picker beating everyone is Fidelity Investments Inc.’s decoder of computer chips, crushing every measure of performance as the more popular passively managed index funds tracking market benchmarks proved little more than also-rans in 2024.
He is Adam Benjamin, the 53-year-old who took charge of Boston-based Fidelity’s Select Semiconductors Portfolio mutual fund in 2020 after two decades focusing on the industry that invigorates smartphones, virtual reality headsets, autonomous driving, cloud computing transition, electric vehicles and US national security.