Third Point posted a strong 7.9 percent gain in the second quarter despite recording flat results in June. As a result, the multistrategy hedge fund headed by Dan Loeb is up 7.4 percent for the year, compared with a 9.55 percent gain for the S&P 500. Not bad given that Third Point ran a relatively low gross and net exposure in its equity book for most of the year. It entered the second quarter with a 52 percent gross exposure and a 14 percent net exposure after the stock market sell-off, ena...
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