Credit card–issuer American Express (NYSE:AXP) boosted the Fund’s return by 110 basis points, as the stock rose from $95.32 to $124.49 for a total return of 32.5%. The shares moved higher throughout the year, as the company delivered industry-leading revenue growth of 8% while maintaining its strong balance sheet.
From Jerome Dodson (Trades, Portfolio)'s Parnassus Endeavor Fund (Trades, Portfolio) fourth-quarter 2019commentary.
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Sydnee Gatewood I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg