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Third Point Treads Water in July

Dan Loeb’s hedge fund sat out last month’s impressive market rally.

The stock market was hot in July, but Third Point Offshore missed the party. The hedge fund headed by Dan Loeb was essentially flat for the month despite a 9.2 percent gain in the S&P 500, including dividends reinvested, according to Third Point’s July letter to clients. As a result, the

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