Tiger Global’s Losses Hit 61.7% As Firm Doubles Down On Tech

In 2021, the financial world watched as Melvin Capital, formerly one of the most successful hedge funds, plunged 55% amid a Reddit-inspired short squeeze. In one month, the hedge fund lost around $7 billion and was bailed out by Citadel and Point72 Asset Management. Melvin, which was founded and managed by Gabe Plotkin, made a name for itself for its aggressive long and short equity positions. From 2014 to 2020, the fund boasted average annualized returns of 30%. Q1 2022 hedge fund letters, conferences and more While the fund did manage to claw back some losses in 2021, it has…