Jeffrey N Vinik

Vinik rose to prominence helming Fidelity Investments’s Magellan Fund in the 1990s but left Fidelity in 1996 after a bad bond bet. He resurfaced later that year with his own hedge fund but returned nearly all investors’ money in 2000, citing a desire to spend more time with his wife and young children. He took in significant outside money again in 2005, and Vinik Asset Management shone in 2008 when it lost 4%, as hedge funds on average lost 19%. Vinik closed the by-then $8 billion firm in 2013, saying in a letter to investors it had notched 17% annualized returns since 1996. The firm was also hit by significant redemption requests amid a restructuring that included the firm’s move from Boston to Tampa. Vinik is planning to relaunch his hedge-fund firm out of Tampa, Fla., in what would mark his third return to investing clients’ money.