(Reuters) Billionaire hedge fund manager Dan Loeb believes that recent market volatility still offers “excellent opportunities” to make money despite a “catastrophic” period for hedge fund performance, according to a letter sent to clients of his Third Point LLC on Tuesday seen by Reuters.
“As most investors have been caught offsides at some or multiple points over the past eight months, the impulse to do little is understandable,” Loeb wrote in the letter. “We are of a contrary view that volatility is bringing excellent opportunities.”
