Below is from Market Folly's October 11th hedge fund update.....only guys coming close are gold and commodity focused (Paulson at 22% YTD and Fink at 25% YTD)
Dan Loeb's Third Point: Their offshore fund was up 3.9% in September and is now up 19.1% for thus far in 2010. Their Partners fund is up 22.2%, their Ultra fund is up 19.9%, and their Qualified fund is up 18.1%. Loeb recently disclosed new positions in gold bullion and Potash (POT). . . .
Overall, long/short funds were up around 5.4% for September and up 5.3% year-to-date. Merger arbitrage funds in general were up 1.96% last month and now 7.64% for the year. Lastly, event-driven hedge funds are up 8.89% for 2010 after a positive 4.65% in September. Interestingly enough, global macro funds have lagged other strategies, up 0.45% last month and only up 2.26% year-to-date.
"I am sure, if we are really nice and stay quiet, everything will be alright and the president will become more centrist and that all his tough talk is just words," Mr. Loeb wrote in an email about four months ago expressing frustration with the president's posture toward Wall Street. "I mean, he really loves us and when he beats us, he doesn't mean it."
Dan Loeb Discloses 5.1% Stake In Yahoo, Sends Letter To BOD Demanding Complete Company Overhaul
The Yahoo drama just got more exciting with the inclusion of Mr. Pink, who just announced he owns 5.1% of YHOO shares, and has submitted a letter in which Third Point "details our principled demands for sweeping changes in both the Board of Directors (the “Board”) and Company leadership, and outlines the hidden value of Yahoo, which has been severely damaged – but not irreparably – by poor management and governance." Read on to see what has the famous activist pissed this time around. Oh, and Dan, good luck saving this sinking titanic: your buddy David Einhorn got out just in time... Or did you just end up buying your friend's shares?
SAN FRANCISCO (MarketWatch) -- Third Point LLC, a New York-based investment management firm, on Friday called upon Yahoo Inc. YHOO -1.42% co-founder Jerry Yang to resign from the company's board of directors and for Yahoo to give two board seats to Third Point. In a letter to Yahoo's board, Third Point Chief Executive Daniel Loeb asked for the board seats to come from the departure of Yang and current board chairman Roy Bostock, or by the creation of two new positions on the Yahoo board. Loeb cited Yang's "ineptitude in dealing with the Microsoft MSFT -1.34% negotiations to purchase the company in 2008," when Yang was Yahoo's CEO. Loeb also said Third Point was opposed to any "sweetheart" deal that would sell Yahoo to private equity firms. Third Point is the sixth-largest Yahoo shareholder, according to data from FactSet Research.
Mr. Pink's Picks: selected event-driven value investments | Stock Discussion ForumsShare