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Jeff Vinik shows that sports teams are hottest new hedge fund status symbol

Hedge funds have been snapping up sports teams the way they used to purchase art masterpieces.

Professional sports teams are competing with art as the favored collectible among hedge fund managers. In the past year alone, at least three managers have bought all or part of a team, and at least 12 hedge fund managers now have investments in sports teams.The most recent: avid hockey fan

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