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The consumer products specialist posted gains above 40 percent for the second time in three years.
| Gabriel Plotkin, Melvin Capital Management |
Gabriel Plotkin has quickly emerged as the top SAC Capital alum after posting his second gargantuan gain in three years at the same time that many of his fellow “SAC PAC” members are generating mediocre returns.
Plotkin, who launched New York-based Melvin Capital Management in late 2014, last year gained roughly 44 percent, according to an investor in the fund.
In 2016, Melvin was up around 12 percent, beating the S&P 500’s 9.5 percent gain.
In 2015—Melvin’s first full year of operation—its main fund surged 47 percent.
When asked about Melvin’s 2017 performance, David Kurd, Melvin chief operating officer, simply said: “We can’t confirm or deny.”
Plotkin is a former trader and consumer stock specialist at Sigma Capital Management, then...