Dan Loeb Q2 Letter: Sony Entertainment the 'Red Headed Stepchild'

Dan Loeb’s Third Point just released its Q2 letter that details performance and investment outlooks for the flagship Third Point Offshore Fund. The master fund was up 3.3% in Q2, good for any other fund but less than okay for Dan Loeb who has been ranking in the best returning hedge funds for two straight years now. The fund is up 12.6% for the year, but experienced a major loss last month when Third Point Offshore was down 1.8%. Loeb wants new dividend strategy from CF Industries The full letter is embedded below.  Most notably, Loeb discusses his new investment…