Melvin and Light Street also experience the effects of conventions
Melvin Capital and Light Street Capital, two US cover bagA rough meeting in stocks known by retailers in January, was disrupted again in May because stocks exploded again.
Melvin, the seriously injured at the first group meeting in January, he lost another 4th installment in May, said people familiar with the statistics.
That accounts for about 44.7% damage to the fund this year, people say. The S&P 500 index for US stocks rose 0.6% last month and rose about 12% in the first five months of the year.
Hedge funds are losing money against five well-known stocks – GameStop, Bed Bath & Beyond, AMC, BlackBerry and Clover Health – about $ 6bn from early May, according to data company Ortex Analytics. Peter Hillerberg, co-founder of Ortex, said the money had recently reduced their limited liability in the stock market but little interest remained “on a large scale”.
Melvin from New York, led by Steve Cohen defender Gabe Plotkin, was spotted in the middle of a GameStop saga in January. Melvin’s performance fell by 53% in the price-to-price ratio.
The fund, which in January contributed to a $ 4.5bn fall in value since the end of last year, received $ 2.75bn cash Later on from Cohen’s Point72 Asset Management and Ken Griffin’s Citadel.
Melvin’s assets have risen to $ 11bn since June 1, according to a company expert. The loss of the company was revealed, Melvin said came out his bet against GameStop and reducing risk in its businesses – although it went awry last month.
Shares like GameStop, AMC and BlackBerry merged at the end of January, as amateur amateur integrates their actions on platforms like Reddit, and sometimes struggles with hedge funds.
After the return, these stocks rose sharply in recent weeks. These meetings have hurt all temporary traders to bet against the stocks, as well as supervisors with limited positions in some stocks that have been hit in the next stock market or where other traders have been shortened.
Other losers are Light Street Capital, founded by Glen Kacher, Tiger Cub and former Julian Robertson Tiger Management.
The company, which grossed nearly $ 3.3bn earlier this year, hit the first quarter. His leading fund lost another 3rd quarter in May and is now down 20.1% this year, according to figures sent to investors. The loss of the bag in the first phase is largely driven by the loss of the bag, says a person who is well aware of the situation.
Melvin and Light Street declined to comment.
Unsafe – Market, economic and strong ideas
Robert Armstrong disrupts key market trends and discusses how well Wall Street positive ideas respond to them. Enter Pano for this letter to be sent to email every week