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 today,” says Vinik. While valuations are stretched, he argues that this is primarily due to low interest rates. “We are dealing with some of the best economic conditions we’ve had in many, many decades.”
• With regard to a potential bear market, Vinik says that while he believes we’re facing a long period of low rates, “with highly valued markets like we have now, you become more vulnerable to exogenous shocks that can cause 20% to 30% declines.”
• When asked about the outlook for the tech sector and whether its growth is sustainable, Vinik says, “Now we’re in the beginning to middle stages of a new long-term leadership of the world economy from technology that may have legs for many, many years.”
• On index funds, Vinik argues, “For the average investor, a diversified portfolio of index funds is a good way to go.”