Loeb's Third Point Says Hedge Funds in 'Catastrophic' Period

  • Hedge funds in first innings of 'washout,' firm says in letter
  • Increasing complexity in markets is here to stay, firm says

Dan Loeb.

Photographer: Jacob Kepler/Bloomberg

Third Point, founded by Dan Loeb, said hedge funds are in the first stage of a “washout” after “catastrophic” performance this year.

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