It's "Death of an Investment Firm."
, former PM of Fidelity's Magellan Fund
, is shutting down his hedge fund firm, Vinik Asset Management
, according to the Wall Street Journal
, the IVC Post
, and P&I
According to the news accounts, Vinik is closing shop after poor investing performance. People are abandoning ship to start their own shops.
Vinik, who also owns the NHL Tampa Bay Lightning hockey franchise, plans to return billions to investors by the end of June.
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