2016’s Top Earning Hedge Fund Managers And Their Favorite Stocks

T-1. Michael Platt, BlueCrest Capital

2016 Earnings: $1.5 billion

Top Pick at the End of 2016: MGM Resorts International (NYSE:MGM)

BlueCrest Capital co-founder Michael Platt had a huge 2016, after his fund (which is actually a family office now) returned 50% net of costs for the year, thanks primarily to bets on interest rates as opposed to equities. On the equities front, the firm’s top pick at the end of December was MGM Resorts International (NYSE:MGM), which has dipped by nearly 6% in 2017.

It was a weak February for casino operators on the Vegas Strip, as gaming win declined by just under 5% for the month. However, revenue in Macau jumped by 18% during February. MGM Resorts International (NYSE:MGM) is also looking further east, to Japan, where it has said that it would be willing to spend up to $10 billion to build a casino. However, rivals like Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) and Las Vegas Sands Corp. (NYSE:LVS) are also intent on winning the rights to build a casino in the country.

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