Investing legend Jeff Vinik shared his views on the market and economy in an interview Monday on CNBC's "Power Lunch."
On the market:
"What we have is good economic growth and relatively low inflation. ... The outlook for corporate profits is good. That should be a good backdrop for good market performance in the years ahead."
From 1992 to 1996, Vinik managed the Fidelity Magellan Fund, the world's largest mutual fund at the time with more than $50 billion under management. He then started his hedge fund Vinik Asset Management and posted annual returns of 17 percent before closing it in 2013. Vinik is the owner of the Tampa Bay Lightning of the National Hockey League.
The money manager also discussed:
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