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Robert E Stansky

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BUSINESS
May 24, 1996 | SCOT J. PALTROW, TIMES STAFF WRITER
Following a bad bet on bonds, months of lagging performance and controversy, Jeffrey N. Vinik resigned Thursday as manager of Fidelity Investment's Magellan Fund, by far the nation's largest mutual fund. The company immediately put its flagship fund in the hands of another veteran with a steadier track record. Boston-based Fidelity named Robert E. Stansky, 39, manager of the Fidelity's highly successful Growth Company Fund since 1987, to succeed Vinik, 37, who has managed Magellan since 1992.
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BUSINESS
May 24, 1996 | SCOT J. PALTROW, TIMES STAFF WRITER
Following a bad bet on bonds, months of lagging performance and controversy, Jeffrey N. Vinik resigned Thursday as manager of Fidelity Investment's Magellan Fund, by far the nation's largest mutual fund. The company immediately put its flagship fund in the hands of another veteran with a steadier track record. Boston-based Fidelity named Robert E. Stansky, 39, manager of the Fidelity's highly successful Growth Company Fund since 1987, to succeed Vinik, 37, who has managed Magellan since 1992.
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BUSINESS
May 24, 1996 | KATHY M. KRISTOF, TIMES STAFF WRITER
During his tenure as manager of the behemoth Fidelity Magellan Fund, Jeffrey N. Vinik raised eyebrows. At one point, nearly half the equity fund's assets were invested in just one industry: technology. Later it was nearly 20% invested in bonds. Vinik also came under fire for recommending stocks that his fund was selling. And he was always under extreme pressure to beat the market, even as Magellan's size made this increasingly more difficult.
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