Dan Loeb’s Third Point funds outperformed the market again. In addition to citing luck, Loeb wrote in his letter that his fund follows a framework that encourages being opportunistic. Instead of following the headline stories, the group researches more deeply, to uncover idiosyncratic and uncorrelated opportunities. For example, Greek debt holdings generated strong returns for Third Point, because the fund researched the economic and political factors. This led to holding Greek debt was then tendered during a debt buyback in mid-December 2012.
Top Winners in fourth quarter through December 31 2012 were:
Top Losers in fourth quarter through December 31 2012 were:
New PositionsLoeb initiated 3 new positions in the last reported quarter.
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