Legal Law

Dan Loeb blows bubbles and loves it

Aren’t you enjoying the “rapidity of the rise and collapse of bubbles powered by retail platforms and social media”? Snowbird is Dan Loeb.

The Third Point Offshore Fund was up 6.5% last month and up 11% for the quarter, while the Third Point Partners Fund was up 6.6% in March and 11.3% in the first quarter.

Lee Ainslie even more so now that so many pandemic punching bags have been revived.

Though Dallas-based Lee Ainslies Maverick, who has $ 11 billion under management, lost around 9 percent of his flagship hedge fund in a troubled January, it rose around 25 percent in February and an additional 20 percent last month. By betting on previously unpopular “value stocks” in sectors such as retail, airlines and banking, Maverick had gained around 36 percent of its flagship fund by the end of March, making it one of the world’s best performing hedge funds

And hey: There’s something in there that Loeb, who was born and raised in Santa Monica, can love.

Real estate investment trusts rose 9% overall over the three months, outpacing the 6% gain of the S&P 500, according to data analyst Green Street. The REIT rally was fueled by an 18% increase in accommodation shares and an increase the owners of the shopping centers fired by 32%.

Loeb’s third point rose 11% in the first quarter – investor update [Reuters via Nasdaq]Maverick’s big bets on unloved stocks pay off in a value rally [FT]Real estate losers in 2020, such as hotel and mall owners, in the first quarter [WSJ]

Related Articles