you heard it from gabe plotkin, the head of marvin capital, one of the funds that lost the most moneys rethinking business and they will perform differently. the bigger question here is what the s.e.c., if anything does. they're reviewing this right now. and they have to balance giving people like arya the opportunity to make these style of investments with protecting people like arya from a world where if he were to lose everything, it would be incredibly costly. and that's going to be the balancing act for regulators going forward. >> well, so much food for thought. thank you, arya. congratulations and good luck in the future. rj, thanks for joining us. >> thank you so much for having me. >> thanks, juju. >>> up next, sharing 15 minutes of serenity at the vaccination clinic with yo-yo ma. ♪ did you know prilosec otc can stop frequent heartburn before it begins? heartburn happens when stomach acid refluxes into the esophagus. prilosec otc uses a unique delayed-release formula that helps it pass through the tough stomach acid. it then works to turn down acid production, blocking heart

charlie gasparino joins us with the details of gabe plotkin, and, of course, melvin capital. to segway into the archegos thing, the trading friending si which is one of -- you know, if you thought gamestop was crazy, this is crazy this another way. liz: yeah. >> it involves major players on wall street. i have some breaking news on that as well. listen, here's what we know. as of, you know, a week ago i think you could say melvin capital was definitely rebounding from that, those losses that it had that almost put it out of business during the whole gamestop frenzy. it had a decent february. it was having a decent march. now here's my one caveat, liz. i don't know if this is hedge fund has any exposure to what's going on here. the company hasn't commented. i'm not saying they do, by the way, i don't want to start a bank run. but i'm hedging myself because this whole thing with archegos and bill -- how do you say the guy's last name in. liz: wang. >> this whole thing is racking up tremendous losses. we're talking millions of dollars. and so i just want to be cautious here. he

let's be clear, it's not just archegos seeming to have imploded, but there's also the example of gabe plotkinand melvin capital, by all accounts a solid investment manager yet he clearly went on the risk curve and his game stopped short and look what happened, tim. in another kind of market environment, would these sort of outsize bets, going out on the risk spectrum, they would have happened, but maybe -- i don't know, maybe not in this quantity >> so my first question is, mel, did you ever throw a good old party when your parents went out of town in high school >> what do you think >> i'm sure you did not. so these two hedge funds we talked about, these guys are tom cruise these are the guys that drove the porsche into the water so -- and literally, the metaphor is perfect, isn't it? so i think you have a case here where although hedge funds have been saying what the heck, all those lines that were pumped out at joel in the movie, the fed is giving the opportunity to throw that party and to know when in fact to get everybody out of there much better than joel did. i think you have a case he

gabe plotkin, former protege or current protege of steve cohen, worked at s.e.c.that steve cohen ran, now point expectation 72 and seeded melvin from the beginning and put more capital in in january as the firm struggled. but you're right i don't quite understand it's not clear whether they are invested as a lp, gp, combination as both. it's a little bit murky there. >> yeah, and may continue to be given the lack of communication we get sometimes from those firms. thank you. >>> big show ahead on "squawk on the street." an exclusive with the ceo of bed, bath & beyond meantime, worst three days for the nasdaq in three months red for the year lowest intraday since january 6th. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ the street." bed, bath & beyond announcing the biggest change in its product assortment in a generation plans to launch at least eight new owned brands in fiscal 2021. courtney reagan is