Wed, Jan 25, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

It pays to invest in Greek bonds like Third Point

Monday, January 07, 2013

amb
Benedicte Gravrand, Opalesque Geneva: - Daniel Loeb's $10bn hedge fund firm Third Point saw its flagship fund return 21% YTD compared to 13% for the S&P 500, according to media reports (the more leveraged Ultra Fund returned 34%). This is after gaining 3.6% in December, reportedly thanks to contrarian investments in Greek government bonds. Third Point's current top holdings are Yahoo, American International Group (AIG) and gold, along with an activist position in Murphy Oil.

"We have invested profitably in European credit situations in 2012, generating a 35% return on average capital invested over the past six months while nearly tripling our gross investment in the area. Our selective approach to investing in distressed credit during this chaotic time in the region was enabled by two key facets of our investment process, which we have found to be replicable in various stressed environments," Loeb wrote in his Q3-2012 investor letter in October.

The first key facet is that money can be often made in credit situations where assumptions are not rosy "but simply less draconian than those of a market in panic," he explained. Th......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised