MutualFundWire.com: Foster Friess Awaits a Warm Reception for DailyCaller.com

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Monday, January 11, 2010

Foster Friess Awaits a Warm Reception for DailyCaller.com

Retired fundster Foster Friess is finding a new way to spend money during his golden years. The ex-stock picker for the Brandywine Fund is reportedly putting $3 million into a new Website that is being touted as the conservative answer to the Huffington Post.

The Daily Caller has ex-CNN and MSNBC pundit Tucker Carlson as its editor-in-chief. The bow-tie wearing Carlson pressed the button on the site's first html Monday morning. The debut lead story is on Carlos Allen, the third "gate crasher" at the Obama White House's first state dinner last month.

In an interview with PaidContent.org, Carlson said that the site currently employs 21 staffers and has a number of launch sponsors. Those advertisers include: The Auto Alliance, the Chamber of Commerce, the Southern Company, Broadband for America, and the National Mining Association.

Foster Friess

Carlson confirmed in his interview that the site launched with $3 million of venture funding. The Washington Post reported that Friess invested $3 million in the venture.

The site's conservative roots go deeper than Friess' safe. A former aide to Vice President Dick Cheney is Carlson's partner. Moira Bagley, press secretary for the Republican National Committee in 2008, is the opinion editor.

Friess started selling his stake in Friess Associates (the advisor to Brandywine) to Affiliated Managers Group (AMG) in 2001. The Friess family continues to hold a 10 percent stake in the asset manager.

Meanwhile, Friess also maintains his own Website at FosterFriess.com where he extols his free market and Christian views.

Printed from: MFWire.com/story.asp?s=23851

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