Dan Loeb’s Caution Tempers Returns

Third Point posted gains in February, as its activist plays paid off.

Illustration by II

Illustration by II

After Third Point’s double-digit loss last year, Dan Loeb has become cautious. And while several of his activist plays are gaining sharply, he is still is missing out on big gains this year.

Loeb’s Third Point Offshore hedge fund rose 2.8 percent in February for a 5.7

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