Jeff Vinik managed the enormous Fidelity Magellan Fund from 1992 to 1996 following in the footsteps of the legendary Peter Lynch.
Following that he ran his own hedge fund until 2010 when he returned all capital to shareholders.
Today he doesn't see any great bubble in the equity markets and certainly not in technology stocks.
Vinik believes that the technology bubble of the late '90s will be the biggest bubble any of us ever see.
He is a big believer in the long-term ownership of stocks. We have hundreds of years of experience in stocks going up over time. It won't happen in a straight line, but buy and hold for the long term is the way to go.
