Dan Loeb’s Third Point hedge fund returned -3.2% in its flagship strategy according to its third-quarter update, a copy of which ValueWalk has been able to review. Following this performance, the fund is down – 22.7% year to date compared to -23.9% for the S&P 500 index and 25.1% for the MSCI World Index. In the update, the fund manager explains that while plenty of “well-flagged” risks are emerging in the global economy, the team at Third Point is looking to deploy capital into “world-class companies trading at bargain basement prices.” Value in consumer defensives One of these world-class companies…
Third Point Bulks Up Distressed Debt Team Ahead Of Distressed Selling [Q3 Letter]
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