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Jeff Vinik

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BUSINESS
January 5, 1996 | Times Staff and Wire Reports
Fidelity Denies Vinik Under Pressure to Resign: Fidelity Investments denied widespread market rumors that Jeff Vinik is under pressure to resign as manager of the $53-billion Magellan mutual fund. But rumors in the stock market that the giant Boston mutual fund company wanted to force Vinik out of its most prominent fund was cited by some market sources as helping to depress technology stock prices.
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BUSINESS
January 5, 1996 | Times Staff and Wire Reports
Fidelity Denies Vinik Under Pressure to Resign: Fidelity Investments denied widespread market rumors that Jeff Vinik is under pressure to resign as manager of the $53-billion Magellan mutual fund. But rumors in the stock market that the giant Boston mutual fund company wanted to force Vinik out of its most prominent fund was cited by some market sources as helping to depress technology stock prices.
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BUSINESS
April 30, 1992 | TOM PETRUNO, TIMES STAFF WRITER
In a surprise decision, the manager of the nation's biggest stock mutual fund is resigning to take an extended sabbatical. Morris J. Smith, 34, who has directed the $20-billion Fidelity Magellan fund since mid-1990, will quit July 1 so that he can take his family to live in Israel for a time. He will be replaced by Jeff Vinik, 33, who has piloted Fidelity's $4-billion Growth & Income fund since October, 1990.
BUSINESS
April 30, 1992 | TOM PETRUNO, TIMES STAFF WRITER
In a surprise decision, the manager of the nation's biggest stock mutual fund is resigning to take an extended sabbatical. Morris J. Smith, 34, who has directed the $20-billion Fidelity Magellan fund since mid-1990, will quit July 1 so that he can take his family to live in Israel for a time. He will be replaced by Jeff Vinik, 33, who has piloted Fidelity's $4-billion Growth & Income fund since October, 1990.
BUSINESS
December 19, 1992 | From Associated Press
Legendary stock picker Peter Lynch, who retired early from Fidelity Investments more than two years ago, said Friday that he has rejoined the firm part-time to help advise young stock analysts. "I enjoy the stock market," Lynch said. "When people in this business get together, they don't talk about the Red Sox. . . . You talk about stocks and companies, and it's fun. I miss it." Lynch, 48, gained fame as head of Fidelity's flagship Magellan Fund, the largest stock mutual fund in the country.
BUSINESS
November 27, 1996 | From Bloomberg Business News
Fidelity Investments is taking new steps to restrict personal trading by employees to counter an impression of a freewheeling culture among some of its fund managers. Fidelity, which already has on its books some of the toughest such language in the business, said it's adding to its "code of ethics" new provisions that discourage "excessive" trading and will also enact a new rule that bans employees from "short-selling"--or making bets against securities--in their personal accounts.
BUSINESS
April 24, 1996 | From Bloomberg Business News
Investors appeared to have steered some of their new equity mutual fund purchases away from industry giant Fidelity Investments in March. Fidelity's stock funds attracted 12.1% of all new stock-fund investments made in March, the lowest level on a percentage basis since December 1994, when it was 9.5%, according to Trim Tabs Financial Services Inc., a Santa Rosa, Calif., investment advisory service.
BUSINESS
December 13, 1995 | From Reuters
A Boston attorney has filed a class-action lawsuit against Fidelity Investment's Magellan mutual fund and its portfolio manager, alleging the company manipulated the share price of one of its largest holdings, Micron Technology Inc. The lawsuit, filed late Monday in U.S. District Court in Boston, stems from reports that the $54-billion fund began selling part of its massive stake in Micron at the same time the fund's manager, Jeffrey Vinik, was touting the stock.
BUSINESS
April 11, 1996 | From Bloomberg Business News
Fidelity Investments' Magellan Fund increased its controversial bet on U.S. bonds in February, just before the market suffered its worst one-day rout in more than eight years, a monthly report to holders Wednesday shows. Magellan manager Jeff Vinik raised the fund's bond holdings to 19.4% of the $56.2-billion portfolio at the end of February from 18.9% in January, the report says. The timing could not have been much worse.
BUSINESS
January 5, 1994 | TOM PETRUNO, TIMES STAFF WRITER
Jeff Vinik may have made managing the nation's largest stock fund look a little too easy in 1993. The Fidelity Magellan fund, whose $30 billion in assets is nearly half again as large as the second-biggest fund, scored a 24.7% total return in 1993, more than double the 10.6% return of the average U.S. growth stock fund. But Vinik is quick to warn that he doesn't expect to repeat that performance in 1994. "This is going to be a tougher year for me than 1993," he says.
BUSINESS
July 7, 1999 | Bloomberg News
Brandywine Fund is rebounding from a woeful 1998 caused by the managers' ill-timed decision to sell stocks and raise cash. Brandywine, led by money manager Foster Friess, is up 17.9% this year as of Friday, exceeding the 13.9% gain of the Standard & Poor's 500 index. Last year the fund fell 0.7% as the S&P 500 soared 28.6%. The difference: Brandywine Fund had just 2.5% of assets sitting idle in cash at the end of June. That's about half what the average U.S.
SPORTS
December 4, 2012 | By Helene Elliott
NEW YORK - Finally, there's reason to believe the NHL and the players' association are listening to each other and might be inching toward a labor agreement that would salvage some semblance of a season. NHL Deputy Commissioner Bill Daly, who has often accused the NHLPA of being unwilling to negotiate, was cordial toward the union after marathon meetings between selected owners and players at a New York hotel Tuesday. That was significant because Daly has been a loud and constant critic of the union's supposed reluctance to compromise.
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