Daniel Loeb’s Third Point Q2 Investor Letter
Wednesday, August 5, 2009 : PermalinkCNBC Stocks – The hedge fund says that with a “doomsday scenario off the table” in the second quarter, it put capital to work in distressed debt and significantly undervalued turn-around situations.
In terms of asset allocation, the fund reports that by June 30, net exposure in its long/short strategy was 37 percent, up from -3.4 percent on April 1. Allocation to credit grew to over 40 percent and risk arbitrage, 20 percent of the portfolio.
Tags:
april 1, asset-allocation, cnbc, distressed-debt, doomsday scenario, hedge fund, risk arbitrage, second-quarter, stocks
