Melvin Capital Founding Partner Clymer Prepares Long-Biased Fund
The four-person shop will focus on consumer and technology stocks, with some trades in financials, industrials and health care.
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A founding partner of Melvin Capital Management is preparing to launch a stock-picking hedge fund more than two years after Gabe Plotkin’s firm shuttered under the weight of wrong-way short bets.
Greyson Clymer’s Ninth Avenue Capital will debut later this year with a long-biased strategy, meaning it will wager more of its cash on stocks rising instead of falling, according to a person familiar with the matter.