FYI: Stock pickers are striking back.
Jeffrey Vinik, who rose to fame as manager of the Fidelity Magellan Fund in the 1990s, told CNBC last week that he was getting back into the stock-picking game. He will resurrect Vinik Asset Management, a hedge fund he closed in 2013.
Only this time, Vinik won’t just be competing with the market and other managers. He will also have to outmaneuver the computers that are increasingly displacing stock pickers.
Regards,
Ted
https://www.bloomberg.com/opinion/articles/2019-01-17/jeffrey-vinik-thinks-he-can-beat-the-stock-picking-bots
