Matches in DBpedia 2014 for { ?s ?p Third Point Management is a New York-based hedge fund. Founded by Daniel S. Loeb in 1995, it has returned over 25 percent annually to investors. As of 2012, Third Point was managing a portfolio worth $10 billion.According to Forbes, Third Point “had a fabulous year in 2012,” when it “beat the U.S. stock market, which most hedge funds failed to do, with a 21.2% net return.” Indeed, it “was one of the best-performing hedge funds in 2012.” During the year, Third Point “made money betting on Greek sovereign debt” and “led a successful effort to dislodge Scott Thompson from the CEO position at Yahoo and replace him with Marissa Mayer.” Loeb also joined Yahoo's board of directors. He made news in early 2013 by taking a position in Herbalife, the nutritional supplements seller, although he sold a considerable portion of his stake within weeks.The firm's only negative year was 2002, when Loeb short-sold technology shares in hopes of replicating the achievement of Paul Tudor Jones II, “who was said to have perfectly timed the crash of 1987.” But “Loeb’s timing was off. He’d caught the bottom,” according to The New Yorker. As a result of his actions, for which he was reportedly furious at himself, the value of Third Point's portfolio went down 7 percent.In his letter to investors for the first quarter of 2009, Loeb said he was now “less pessimistic about the economy” and was accordingly reducing the firm's short positions. The New York Times reported that his “most profitable investment” during the year was “PHH, a mortgage outsourcing company, whose stock is up about 35 percent this year.” Loeb had also done well with Sun Microsystems, and was “also betting on the merger of the drug giants Pfizer and Wyeth, which he said could generate a 20 percent internal rate of return in six months.” In 2010, the Third Point Offshore Fund showed a 33.7 percent return, the Ultra fund 38 percent, and the Partners fund 41.5 percent.Third Point has invested in major firms and has taken an active role in criticizing what it regards as poor management. It has often exerted pressure on companies to implement structural changes, to alter wasteful practiceds, and to dismiss certain executives whom it considers incompetent.. }
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- Third_Point_Management abstract "Third Point Management is a New York-based hedge fund. Founded by Daniel S. Loeb in 1995, it has returned over 25 percent annually to investors. As of 2012, Third Point was managing a portfolio worth $10 billion.According to Forbes, Third Point “had a fabulous year in 2012,” when it “beat the U.S. stock market, which most hedge funds failed to do, with a 21.2% net return.” Indeed, it “was one of the best-performing hedge funds in 2012.” During the year, Third Point “made money betting on Greek sovereign debt” and “led a successful effort to dislodge Scott Thompson from the CEO position at Yahoo and replace him with Marissa Mayer.” Loeb also joined Yahoo's board of directors. He made news in early 2013 by taking a position in Herbalife, the nutritional supplements seller, although he sold a considerable portion of his stake within weeks.The firm's only negative year was 2002, when Loeb short-sold technology shares in hopes of replicating the achievement of Paul Tudor Jones II, “who was said to have perfectly timed the crash of 1987.” But “Loeb’s timing was off. He’d caught the bottom,” according to The New Yorker. As a result of his actions, for which he was reportedly furious at himself, the value of Third Point's portfolio went down 7 percent.In his letter to investors for the first quarter of 2009, Loeb said he was now “less pessimistic about the economy” and was accordingly reducing the firm's short positions. The New York Times reported that his “most profitable investment” during the year was “PHH, a mortgage outsourcing company, whose stock is up about 35 percent this year.” Loeb had also done well with Sun Microsystems, and was “also betting on the merger of the drug giants Pfizer and Wyeth, which he said could generate a 20 percent internal rate of return in six months.” In 2010, the Third Point Offshore Fund showed a 33.7 percent return, the Ultra fund 38 percent, and the Partners fund 41.5 percent.Third Point has invested in major firms and has taken an active role in criticizing what it regards as poor management. It has often exerted pressure on companies to implement structural changes, to alter wasteful practiceds, and to dismiss certain executives whom it considers incompetent.".