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- Vinik, anticipating a market downturn, sold most of Magellan's large technology position and moved those assets into bonds and cash. When the anticipated correction did not occur, Magellan significantly underperformed the S&P 500 index. In the aftermath of the asset allocation decision, Vinik left Fidelity.
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Who is Jeff Vinik?
After leaving Fidelity, he started hedge fund Vinik Asset Management, with partners including Michael Gordon (now President of Fenway Sports Group). He made investors 93.8% in his first 11 months and approximately 50% a year for the next three years.
Oct 18, 2018 · 2018 NHLI. Jeff Vinik, the owner of the Tampa Bay Lightning and former manager of Fidelity Magellan fund, is known for his outsized bets as an investor. His latest one: silk. Vinik, 59, led...
Nov 8, 2016 · Ten years ago, Jeff Vinik retired from Fidelity Investments after managing its high profile Magellan Fund. Worth an estimated half a billion, it’s safe to say Vinik can live wherever he...
Jan 20, 2018 · He built a fortune through his successful hedge fund management, both with Fidelity Investments from 1992-96 and his own hedge fund, Vinik Asset Management.
Jan 10, 2019 · Vinik, who once ran Fidelity's Magellan mutual fund and then oversaw $10 billion at his own hedge fund, is starting for a third time, he told Reuters on Thursday.
Oct 24, 2019 · Institutional investors have lost their appetite for stockpickers after years of poor performance, according to the former Fidelity Investments star Jeff Vinik, who announced the closure of...
Feb 1, 2000 · Vinik is intensely secretive and has refused all interview requests since leaving Fidelity, but MONEY has been able to uncover how his brand of extreme investing works--and how profitable it...
