What Drove Third Point’s Disastrous Year

Equities weren’t the only strategy that caused Dan Loeb’s hedge fund to post its worst results in 14 years.

David Paul Morris/Bloomberg

David Paul Morris/Bloomberg

For Third Point, 2002 was definitely a year to forget.

Despite losing just 0.3 percent in December, the equity-driven multistrategy firm’s Third Point Offshore fund dropped 21.8 percent in 2022, according to the firm’s December monthly report. This represents Third Point’s worst annual performance since the 2008 financial crisis.

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