Third Point Rose 21% in 2012 After Bullish Bet on Greek Bonds
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Daniel Loeb’s $9.3 billion hedge fund Third Point LLC ended 2012 up 21 percent, boosted by its bet that European policy makers would keep Greece in the euro by continuing to support the indebted country.
Third Point gained 3.6 percent in December, its second-best month of the year, the New York-based hedge fund said in a statement today. Third Point’s bet on Greek sovereign debt was its top-performing investment for a third straight month in December, according to the statement.