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Third Point Management : ウィキペディア英語版 | Third Point Management
Third Point Management is a New York-based hedge fund founded by Daniel S. Loeb in 1995. It has returned over 25% annually to investors, and as of September 2014, its assets under management has reached $17.5 billion. It "deploys a value-focused strategy that invests in companies undergoing events such as spinoffs or bankruptcies and pushes for corporate change". According to ''Forbes'', Third Point “had a fabulous year in 2012”, when it “beat the U.S. stock market, which most hedge funds failed to do, with a 21.2% net return”; it “was one of the best-performing hedge funds in 2012”. During the year, Third Point “made money betting on Greek sovereign debt (... ) led a successful effort to dislodge Scott Thompson from the CEO position at Yahoo and replace him with Marissa Mayer”. Loeb joined Yahoo's board of directors. He made news in early 2013 by taking a position in Herbalife, the nutritional supplements seller, although he sold a considerable portion of his stake within weeks. The firm's only negative year was 2002, when Loeb unsuccessfully short-sold technology shares in hopes of replicating the achievement of Paul Tudor Jones II, who had “perfectly timed the crash of 1987”, according to ''New York Magazine''. As a result, Third Point's portfolio's value decreased 7%.〔 In his letter to investors for Q1 of 2009, Loeb said he was now “less pessimistic about the economy” and was accordingly reducing the firm's short positions. The ''New York Times'' reported that his “most profitable investment” during the year was “PHH, a mortgage outsourcing company, whose stock is up about 35 percent this year”. He did well with Sun Microsystems, and was “also betting on the merger of the drug giants Pfizer and Wyeth, which he said could generate a 20 percent internal rate of return in six months”. In 2010, the Third Point Offshore Fund showed a 33.7% return, the Ultra fund 38%, and the Partners fund 41.5%. ==Stakeholdings==
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