Melvin takes more negative positions than most of its Wall Street rivals, exposing it to potentially heavy losses. It owned"puts" - bets that a stock price will fall - on 17 US-listed companies including GameStop and Bed Bath & Beyond at the end of September.
The firm's strategy has paid off in the past. Melvin has returned an average of 30% annually since its founding in 2014, and had grown its assets under management to $12.5 billion at the start of this year, The Journal said. Gabe Plotkin, a former star portfolio manager at Cohen's SAC Capital, quit to start Melvin in 2014. He counted Cohen as a day-one backer.
As the saying goes, it couldn't happen to nicer guys...
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So it was billionaires who attempted to illegally manipulate stocks.
Mets fans are panicking that volatile trading in video-game retailer GameStop is going to harm new owner Steve Cohen’s ability to make the Mets amazin’ again.
DUMBASS AHAHAHAHHAHAHAHA
Miskine ils sont en perte hahaha
KFCBarstool 😕
rekt
U screwed 😀
Lmaoo
This seals it. Bet your bottom dollar the Mets will announce Bauer signing tomorrow. It’s all about perception and StevenACohen2 knows best how to and when to use the media. LGM
Uncle Steve is a god
Lol
garyvee get ready bro. You could get a team soon if this twat goes belly up. Make him a low ball offer!!
They're not stupid. They understand the first rule of stock speculation: only put in as much money as you're willing to light on fire. They're willing to spend this much because even if they lose it, the impact to their overall portfolio will be minimal.
and this is why we need to overthrow capitalism, its a rigged game, there is nothing free about the market. If the powers that be don't like how the invisible hand is moving, they just put their fat porky fingers on the scale and shift it the way they want it to go.
Bahahaha folks you love to see it 🤣🤣🤣🤣
the only thing better than redditors setting the market aflame will be to see this guy lose a ton of money
Genuinely hope they lose it all, but make a killing from $ROPE
When you are really rich but not smart...
I'm looking forward to the inevitable Adam Mackay movie about this.
And it still didn’t save them 🤣
hope these ghouls lose everything
danwpaterson Did Cohen sell VerastemOncolog position to short Gamestop?! 😂 Who else?! Is that reason for price drop 20% in a few days?! Karma Also, can VerastemOncolog update us on ASCO ASCO please!
lol this is bout to happen to the Mets twice
StevenACohen2 you too in on this
ADLouisUSA Braves, Marlins, Nationals, and Phillies fans just opened up RobinHood accounts to buy into the GameStop rally.
Hope you don’t mind if I borrow this, ING2Firebrand
In reality it looks like a victory for GME but the stock will at some point get destroyed. We will wake up one morning in the upcoming days and it will be down $100+ a share and as fast as it jumpd will be as fast as it falls
Lmaoo Poor babies
Taking their money for a ride
HaaaaaaHAHAHAHA
More Reddit Gold
It’s ok guys they will burn not only in hell but in the blaze of our rockets
How can the attack on the hedge fund and these billionaires continue, should I buy a share of GameStop tomorrow?
Might have just burned that money in a margin call
The Reddit stock traders are doing God's work.
based redditors. bankrupt those scumbags
inshallah they will lose.
Looks like it’s Reddit’s turn to bring the fuck around and find out - im learning about this on the fly and loving it so far
KFCBarstool Reddit is going to bankrupt the Mets
Lol. If we are lucky griffin will lose everything he has
Lmao AlexDanehy
I hope they lose everything
Hope they both lose everything.
trickshut
Ha ha
LMAO
lmao
nerds on reddit rn:
oh no what if these industrious men pull an atlas shrugged, now that reddit is ruining their livelihood. i for one would feel owned like never before.
Watching a bunch of goobers potentially ruin these hateful awful demons is making me giddy. I've not felt this excited in years.
lmao pwnd
Hope they get wiped out!
Capitalism = 1 million normal people investing to screw over one rich man, who at the same time holds the joy and entertainment of an entire fan base in his hands
Just when Mets fans thought Cohen was the savior for the next 20 years
This investment by Cohen will ultimately net him more money he can use to spend on the Mets. The company he bought is betting against GameStop. Does anybody really think a company that runs brick & mortar video game stores has a future?
StevenACohen2 all you had to do was extend Conforto and Lindor, and sign Springer. But noooooo. You had to bail out your dipshit protege and embarrass us Mets fans in the process
craigcartonlive EvanRobertsWFAN and here’s why you guys didn’t get springer
idiots in this thread didn't read the article.
That’s why we didn’t get Springer
*Gasp* omgandresito
I feel so bad for Mets fans omg.
Uncle Stevie noooo
JFialkow305 bye bye free agency
Lmao apparently the way to get your money back from billionaires is to wreck the stock market with memes
Hahahaha gonna have to sell the Mets already
hahahaha
It's cute that you think the stock market is 'serious'
Bring it. 💎👐🏻 on 10k shares bitches
Gonna be a bad week. Funny when the manipulators are being manipulated.
Shoulda poured some of that into Springer!!
Fuck all you up
Do you think this is what people really need right now?
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