Gabriel Plotkin, formerly a top trader for Steve Cohen’s Point72, put out his own shingle in 2014, opening Melvin Capital with $1 billion in seed money. Since then, Melvin has achieved high annual returns, hitting 47% in its first year of operations and 41% in 2017. Plotkin’s fund is consistently among the highest performers in the industry. According to its last 13F, Melvin Capital has over $7.7 billion in assets under management.The largest holding in Melvin’s portfolio is Amazon, of which the fund has over 405,000 shares. It’s no wonder that a high-performing fund is heavy into the tech giant. Amazon’s share appreciation in recent years has been extraordinary, and Plotkin has steered his fund toward technology and consumer stocks. But he hasn’t built his success just on the obvious plays – Plotkin takes risks, too.In recent weeks, in the midst of the largest market slide since the Great Depression, Plotkin...
(Bloomberg) -- Seventy coronavirus vaccines are in development, with three being tested in human trials, the World Health Organization said. The outbreak has stabilized across the U.S., according to the head of the Centers for Disease Control and Prevention.Parts of the U.S. may be ready to ease emergency measures in May, said Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases. U.K. Prime Minister Boris Johnson praised doctors for saving his life, as the country’s daily death toll eased.U.S. stocks fell and equities declined in Asia’s main financial centers, while markets across Europe were closed for the Easter holiday.Key DevelopmentsCoronavirus Tracker: Global cases reach 1.85 million; deaths top 114,00070 coronavirus vaccines in development globallySpain reports smallest number of new infections since March 20Fauci says U.S. reopening could start ‘in some ways’ in MayCruise passengers spend Easter on “ghost ship”The Virus Should Wake Up the West: Micklethwait and WooldridgeU.K.’s...
President of Blue Line Futures Bill Baruch joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss how oil and gold are faring amid the coronavirus outbreak....
