Foster Friess

Foster Stephen Friess (born April 2 1940 in Rice Lake, WI) is an American businessman and supporter of conservative Christian causes. In a 2001 article, BusinessWeek suggested Friess "may be the longest-surviving successful growth-stock picker, having navigated markets for 36 years, in his own firm since 1974." [ [http://www.businessweek.com/magazine/content/01_29/b3741112.htm BW Online | July 16, 2001 | Buy-and-Hold Isn't His Style ] ]

Life

Foster Friess was born in 1940 in Rice Lake, Wisconsin, a town of approximately 5,000 people. His father was a cattle dealer with a high school education and his mother dropped out of 8th grade to pick cotton on the family farm to rescue it from bankruptcy.

While earning a degree in Business Administration from the University of Wisconsin, he served as president of his fraternity, enrolled in the Reserve Officers' Training Corp and was named one of the "ten most outstanding senior men."

In 1962 Foster married Lynnette Estes and two sons, two daughters and eight grandchildren followed.

Foster is a born-again evangelical Christian.

Career

After graduating from the University of Wisconsin, 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, Foster launched his investment career with the Brittingham family-controlled NYSE member firm in Wilmington, Delaware, eventually becoming Director of Research. Success came slowly during the beginning years of building his own investment management firm, [http://www.brandywinefunds.com/bfunds.nsf/homepage Friess Associates] which he and Lynn launched in 1974. [http://www.brandywinefunds.com/bfunds.nsf?Open]

The firm grew to over $15.7 billion (assets under management) before Foster turned the reigns over to new management in 2001. Forbes named Brandywine Fund, Friess Associates flagship, as one of the decade's top performers as a result of its average 20% annual gains in the 1990s.

In 2001, [http://www.brandywinefunds.com/bfunds.nsf/homepage Friess Associates] sought and found a partner in [http://www.amg.com/ AMG] to facilitate succession planning and spread ownership among Friess teammates. [http://www.amg.com/ AMG] first acquired a majority interest in [http://www.brandywinefunds.com/bfunds.nsf/homepage Friess Associates] in October 2001 and today holds a 70% interest. 20% equity ownership of the firm is held by a broad group of key Friess teammates, including senior management and researchers. The Friess Family retains 10% equity. [http://www.brandywinefunds.com/bfunds.nsf/vt1/GCFAF0A242CBEB6A0185256F23006348F9?Open]

Awards and Achievements

* Muhammad Ali Humanitarian Award
* Humanitarian of the Year presented at the National Charity Awards Dinner.
* Canterbury Medal from the Beckett Fund for Religious Liberty [ [http://www.atlasusa.org/V2/main/page.php?page_id=87 Atlas Economic Research Foundation :: ATLAS FREEDOM DINNER 2004 ] ]
* Adam Smith Award from Hillsdale College [ [http://www.hillsdale.edu/news/imprimis/archive/issue.asp?year=2004&month=02 Hillsdale College - Imprimis Issue ] ]
* Albert Schweitzer Leadership Award from Hugh O'Brian Youth Leadership Foundation [ [http://hoby.org/support/fundraisingevents.html Hugh O'Brian Youth Leadership | HOBY ] ]
* David R. Jones Award for Leadership in Philanthropy [ [http://www.tfas.org/NETCOMMUNITY/Page.aspx?pid=266&srcid=448 The Fund for American Studies - Alumni ] ]
* Thomas J. Reese Award from Catholic Charities tribute in 2001
* Medal of Distinction from the University of Delaware [ [http://udconnection.com/Medals Medals of Distinction / UDconnection ] ]
* Maryvale, AZ 'Man of the Year' Award
* Citizen of the Month Jackson Hole, WY Rotary Club
* Delaware Business Leaders Hall of Fame
* Honorary Degrees from Pepperdine University, Regent University, and [http://goldey.gbc.edu/ Goldey Beacom College]

Political Activism

Foster, a Republican donor and supporter of George W. Bush's administration has been an active patron of a number of religious and conservative causes including:
* [http://www.privatesectorsolutions.net Private Sector Solutions] , a network of leaders developing private sector solutions to augment, preempt or replace government services
* [http://www.libforall.org/ LibForAll] and other groups building a global counter-extremism network
* Patient-driven health care through [http://www.freemarketcure.com/ Free Market Cure] and other groups
* Choice in Education through [http://www.allianceforschoolchoice.org/New/index.html Alliance for School Choice] , [http://www.allchildrenmatter.org/ All Children Matter] and others

Philanthropy

* Lynn and Foster Friess Family Foundation [ [http://www.tgci.com/funding/fdnresultnew.asp?thisID=6040 Lynn and Foster Friess Family Foundation ] ]
* Contributors to the [http://www.wildlifeart.org/Frame_HomePage.cfm National Wildlife Art Museum] in Jackson Hole, WY
* Founding grant for [http://www.goodsamaritanhealth.com/ Good Samaritan Health Services] - Mobile Medical Care in Tulsa, OK.
* $100,000 challenge grants for communities who want to start Mobile Medical Care programs [ [http://healthcaresolutions.ning.com/group/mobilemedicalclinics Mobile Medical Clinics - HealthcareSolutions ] ]
* Matching challenge grant helped raise over $2 million in relief money for Tsunami victims in Sri Lanka. Foster personally traveled to the hardest-hit areas to speak with local church and organization leaders to identify the best efforts. [http://www.nationalchristian.com/web/1/friess.asp?s=776&p Foster Friess ] ]
* Another matching grant administered through the [http://www.nationalchristian.com/default.asp NCF Giving Fund] sent more than $4 million to provide hot meals and other relief support to Katrina Victims.
* Supported a new YMCA development in Maryvale, AZ [ [http://www.azcentral.com/community/phoenix/articles/2008/04/07/20080407phx-ymca0409.html Opening of Maryvale YMCA celebrated ] ] along with several local mentoring and ministry programs

External links

* [http://www.fosterfriess.com FosterFriess.com]
* [http://www.nationalchristian.com/web/1/friess.asp?s=776&p National Christian Foundation Profile: Foster Friess]
* [http://www.youtube.com/watch?v=k9LNYIqUpFY Foster Friess' introduction to the film Obsession]
* [http://money.cnn.com/magazines/moneymag/moneymag_archive/2001/07/01/305205/index.htm "Don't Fence Him In: Foster Friess explains his individualistic approach to managing the Brandywine fund." CNN Money, July 1,2001]
* [http://articles.moneycentral.msn.com/Investing/FindHotStocks/SpotGrowthStocks.aspx "Spot growth stocks -- but at the right price" MSN Money, accessed May 27, 2008]

References