Melvin Capital, hedge fund torpedoed by the GameStop frenzy, is shutting down. Melvin Capital, the hedge fund run by Gabe Plotkin that struggled with heavy losses last year as it reeled from wrong-way bets on GameStop, is shutting down, according to a letter sent to investors on Wednesday that was reviewed by The New York Times. Mr. Plotkin wrote to his investors that he had decided that the “appropriate next step” was to liquidate the fund’s assets and return cash to all investors. Mr. Plotkin, who founded Melvin in 2014, also wrote that he recognized he needed to “step away from managing external capital.” Mr. Plotkin, a protégé of the hedge fund billionaire and New York Mets owner Steven A. Cohen, had wagered that shares GameStop, AMC Entertainment and other mall mainstays from the 1990s would fall as their businesses shrank. Instead, the stocks skyrocketed when amateur investors, coordinating via Reddit, Twitter and other social media sites and determined to outsmart big Wall Street funds, kept buying up shares and propping up their price. That caused Melvin, which had $8 billion in assets under management in January 2021, to lose billions of dollars as it scrambled to cover its so-called short positions. It was propped up by a $2.75 billion bailout from the hedge funds Point72, run by Mr. Cohen, and Citadel, as well as fresh capital from new investors. Before deciding to shutter his fund, Mr. Plotkin had considered reconstituting it. The decision to close Melvin, which Mr. Plotkin named after his late grandfather, is a blow to Mr. Plotkin’s reputation. He had gained fame as one of the most successful portfolio managers to emerge from Mr. Cohen’s former hedge fund, SAC Capital.
Melvin Capital, the hedge fund run by Gabe Plotkin that struggled with heavy losses last year as it reeled from wrong-way bets on GameStop, is shutting down, according to a letter sent to investors on Wednesday that was reviewed by The New York Times. Mr. Plotkin wrote to his investors that he had decided that the “appropriate next step” was to liquidate the fund’s assets and return cash to all investors. Mr. Plotkin, who founded Melvin in 2014, also wrote that he recognized he needed to “step away from managing external capital.”
Mr. Plotkin, a protégé of the hedge fund billionaire and New York Mets owner Steven A. Cohen, had wagered that shares GameStop, AMC Entertainment and other mall mainstays from the 1990s would fall as their businesses shrank. Instead, the stocks skyrocketed when amateur investors, coordinating via Reddit, Twitter and other social media sites and determined to outsmart big Wall Street funds, kept buying up shares and propping up their price. That caused Melvin, which had $8 billion in assets under management in January 2021, to lose billions of dollars as it scrambled to cover its so-called short positions. It was propped up by a $2.75 billion bailout from the hedge funds Point72, run by Mr. Cohen, and Citadel, as well as fresh capital from new investors. Before deciding to shutter his fund, Mr. Plotkin had considered reconstituting it. The decision to close Melvin, which Mr. Plotkin named after his late grandfather, is a blow to Mr. Plotkin’s reputation. He had gained fame as one of the most successful portfolio managers to emerge from Mr. Cohen’s former hedge fund, SAC Capital.
https://www.nytimes.com/2022/05/18/business/melvin-capital-gamestop-short.html
同意，鄙视花街那帮人，不创造任何价值，浪费了那么多年的教育
嗯， 我觉得应该取消这些基金， 妥妥的把股市变成了赌场。
大的机构 price power 太强。
大概可以限制基金规模， 或者限制交易次数， 或者限制每只股票的购买数量之类的。
让散户自己弄可能比较合理， 大家都是韭菜， 共同成长。 哈哈
长者说了闷声大发财是有道理的，这种赚黑心钱还喜欢蹦跶的被收拾不奇怪
还是不太了解做空啊。做空最忌讳的之一其实就是把valuation作为理由。
当时每天交易量是市值的好多倍，这不是散户能搞的出来的，散户无非就是买了留个纪念，不会一天中反复买卖。这个局是程序化交易搞出来的。韭菜就是幌子。
这家伙倒霉，去年做空GME，今年做多
记得疫情时候大家一起合力推的事情
加税就行了。针对一年获利高于1千万的部分收重税。。。。但是现在相反，富豪的税率比w2还低。。
正解。被左右抽脸。