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Third Point’s Best Investment Ever
After a double-digit loss in 2018, the firm’s latest client letter talks up its activism, credit strategies, and most profitable play since inception.
Dan Loeb has toned down his rhetoric with activist targets and diversified to other asset classes, including structured credit and foreign government bonds.But in recent years, it is Third Point’s core activist strategy that has produced explosive gains. According to the firm’s fourth-quarter letter, made public over the weekend, activism
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