TMCnet News
Renowned Investor Jeff Vinik Re-Launching Vinik Asset ManagementJeff Vinik today announced that he is re-launching his money management business, Vinik Asset Management (VAM), continuing the legacy of the firm he led from 1996-2013. Mr. Vinik wound down VAM to focus on his ownership of the Tampa Bay Lightning and the development of Strategic Property Partners. He has invested his own capital since then. "After six years of running my own money, the fire in my belly still burns," Mr. Vinik commented. "While markets have become more competitive over time, I believe the broad industry switch from active to passive management is creating excellent opportunities for fundamental stock pickers like me. I am confident that the style I haveemployed for more than three decades -- fundamental bottom-up company analysis (growth at a reasonable price) guided by a top-down blueprint of the economy and markets -- can achieve strong long-term returns. My investment goal has always been to make hay when the sun shines, to make good money during up markets and minimize losses during down periods." Mr. Vinik will be the sole investment decision maker, initially supported by three analysts. His former firm's leadership team of Mark Hostetter and Gerry Coughlin will be co-Presidents of VAM, and infrastructure support will come from Mr. Coughlin's institutional hedge fund services platform, Oakpoint Advisors. Mr. Vinik added: "Now that I have put in place great leadership teams at my Tampa Bay businesses and my Tampa Bay-focused policy initiatives, I have ample amounts of time to serve my clients to the best of my abilities. I can't wait to get started."
View source version on businesswire.com: https://www.businesswire.com/news/home/20190110005156/en/ |
