Foster Friess

Foster Friess
Friess in March 2013.
Born	Foster Stephen Friess (1940-04-02)April 2, 1940 Rice Lake, Wisconsin
Nationality	American
Occupation	Investment Manager
Known for	Political Philanthropist

Foster Stephen Friess (born April 2, 1940) 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."

Friess was born in 1940 in Rice Lake, Wisconsin. As a student at Rice Lake High School, Friess was valedictorian of his class and a member of the basketball and track teams.

A first-generation college graduate, Friess attended the University of Wisconsin (now University of Wisconsin–Madison), where he earned a degree in business administration. As a student, he served as president of Chi Phi Fraternity, enrolled in the Reserve Officers' Training Corps, and was named one of the "ten most outstanding senior men".

Friess identifies as a born-again evangelical Christian. Despite his professional success, he was unhappy due to a "marriage flirting with divorce and emotionally distant children"; in October 1978, Friess "did one of those 'born again' things".

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 decade ended 1990, 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%. The company was purchased by its employees in 2013.