{"id":441026,"date":"2022-05-03T00:45:53","date_gmt":"2022-05-02T21:45:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/melvin-capital-down-23-3-year-to-date-as-founder-considers-winding-down-fund\/"},"modified":"2022-05-03T00:45:53","modified_gmt":"2022-05-02T21:45:53","slug":"melvin-capital-down-23-3-year-to-date-as-founder-considers-winding-down-fund","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/melvin-capital-down-23-3-year-to-date-as-founder-considers-winding-down-fund\/","title":{"rendered":"#Melvin Capital down 23.3% year to date as founder considers winding down fund"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bc216628d3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bc216628d3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/melvin-capital-down-23-3-year-to-date-as-founder-considers-winding-down-fund\/#%E2%80%9CMelvin_Capital_down_233_year_to_date_as_founder_considers_winding_down_fund%E2%80%9D\" >&#8220;Melvin Capital down 23.3% year to date as founder considers winding down fund&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMelvin_Capital_down_233_year_to_date_as_founder_considers_winding_down_fund%E2%80%9D\"><\/span>&#8220;Melvin Capital down 23.3% year to date as founder considers winding down fund&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Embattled hedge fund Melvin Capital reported another down month \u2014 just weeks after founder Gabe Plotkin said he was considering winding down the fund.<\/p>\n<p>Melvin \u2014 still struggling to recover\u00a0after a massive short squeeze on meme stock <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>Stop\u00a0crushed his fund\u00a0in January 2021 \u2014 lost another 3.3% in April, taking the fund\u2019s year to date drop to 23.3%, according to a letter to investors reviewed by The Post.<\/p>\n<p>The most recent report comes less than two weeks after Plotkin suggested he would return investors their capital at the end of June and then allow them to reinvest in the beginning of July.<\/p>\n<p>At the time, Plotkin \u2014 who\u00a0famously got slammed by \u201cmeme stock\u201d investors on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Reddit<\/a> last year who had targeted his fund for being a prominent short seller \u2014 said he wouldn\u2019t try and make investors whole. <\/p>\n<p>Instead, he\u2019d demand performance fees of potential clients, including those who previously lost money with him. According to reports, Plotkin said he would keep the new fund small \u2014 under $5 billion and focus on shorting stocks.<\/p>\n<p>\u201cMelvin\u2019s CEO who made $800 million in 2020 lost me even more money in April and wants to make himself more fees?\u201d one investor fumed. \u201cShameful, disgusting, horrible behavior.\u201d<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/melvin-capital-549.jpg?w=1024\" alt=\"gamestop\" class=\"wp-image-22114714\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/melvin-capital-549.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/melvin-capital-549.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/melvin-capital-549.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Melvin was squeezed after Gabe Plotkins took a short position in meme stock GameStop.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>As first reported by The Post, Plotkin told investors in a dramatic about face that he would delay his decision to shut down the fund.<\/p>\n<p>Melvin was down 21% in the first quarter,\u00a0but investors told The Post they were hopeful Plotkin \u2014 who was once a prot\u00e9g\u00e9\u00a0of hedge fund titan Steve Cohen \u2014 would turn it around. The email to investors that Plotkin\u2019s most recent bets pushed the hedge fund even deeper into the hole was met with anger. <\/p>\n<p>\u201cThese people suck,\u201d the investor said, slamming Melvin.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/melvin-capital-546-1.jpg?w=1024\" alt=\"gabe plotkin\" class=\"wp-image-22114730\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/melvin-capital-546-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/melvin-capital-546-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/melvin-capital-546-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Gabe Plotkin\u2019s hedge fund is down 23.3% this year.<\/figcaption><figcaption><span class=\"credit\">House Financial Services Committ<\/span><\/figcaption><\/figure>\n<p>Plotkin said after speaking with investors he realized his suggestion to shut down Melvin was \u201ctone deaf.\u201d\u00a0<\/p>\n<p>\u201cI am sorry. I got this one wrong. I made a mistake. I apologize,\u201d wrote the hedge-fund mogul.<\/p>\n<p>But his lifestyle <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be unaffected by his recent losses \u2014 he is still holding onto the beachfront home he bought in 2020.<\/p>\n<p>\u201cPlotkin should sell his $44 million Miami Beach home after losing all of us so much money\u2026 rather than charging us more fees,\u201d the investor fumed.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/02\/melvin-capital-down-23-3-year-to-date-as-founder-looks-to-shut-down-fund\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Melvin Capital down 23.3% year to date as founder considers winding down fund&#8221; Embattled hedge fund Melvin Capital reported another down month \u2014 just weeks after founder Gabe Plotkin said he was considering winding down the fund. Melvin \u2014 still struggling to recover\u00a0after a massive short squeeze on meme stock GameStop\u00a0crushed his fund\u00a0in January 2021&#8230;<\/p>\n","protected":false},"author":1,"featured_media":441027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/melvin-capital-547.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[128735,72128,71070,5005,70463,71541,70360],"class_list":["post-441026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-2-22","tag-gamestop","tag-hedge-funds","tag-reddit","tag-short-seller","tag-steve-cohen","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/441026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=441026"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/441026\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/441027"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=441026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=441026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=441026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}