In an interview with CNBC earlier this year, former Fidelity Magellan fund manager Jeffrey Vinik said he’s resurrecting the hedge fund he closed in 2013, but not just to compete with the market and other managers. This according to an article in Bloomberg. Vinik said he also intends to outsmart the computers that are giving stock pickers a run for their money. “It’s a brave move,” the article said, adding that stock pickers have demonstrated… Read More
Jeff Vinik, who ran Fidelity’s famed Magellan Fund from 1992 until before he left the firm in 1996, became well known for his aggressive investing style, according to a recent Barron’s article. A huge sports fan, in 2010 he left the money management business, bought the Tampa Bay Lightning (a then floundering hockey team) and has undertaken a $3 billion revitalization of downtown Tampa. Here are some highlights from the Barron’s interview: “Stocks are fine… Read More