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Why Third Point Re Is Tanking
The stock of the reinsurer tied to Daniel Loeb’s New York hedge fund is off by way more than the fund it’s tied to. What gives?
Daniel Loeb, Third Point (Bloomberg) Like many hedge fund firms, Daniel Loeb’s Third Point lost money in January, posting a roughly 3.4 percent decline in its flagship fund. However, this is a fraction of the decline experienced by the stock of the reinsurance company Loeb created several years ago. Shares of Bermuda-based
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