Billionaire Hedge Fund Manager Beating the Market Is Giving Up On ‘Fading Trump Trade’

(CNBC) Third Point, the hedge fund managed by billionaire Dan Loeb, said it reduced investments in the “fading ‘Trump Trade'” during the second quarter, according to an investor letter obtained by CNBC. The firm is instead repositioning the portfolio toward investments in companies that “benefit from low inflation,” the letter said. Third Point reduced investments in bank financials and exited reflationary macro trades. The firm also has been lowering its exposure to credit strategies.

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