Zhitong Finance App learned that the flagship fund of Third Point LLC, owned by Daniel Loeb (Daniel Loeb), lagged two percentage points behind the US stock market last quarter, mainly because bets on large technology stocks such as Amazon (AMZN.US) and Microsoft (MSFT.US) were wrong or fell short of expectations. According to a letter to investors obtained by Bloomberg on October 16, Third Point's TP Offshore Fund (TP Offshore Fund) return for the third quarter was 3.9%, while the return rate for the S&P 500 index, including dividends, was 5.9% during the same period. Microsoft and Amazon each fell at least 3.5%, while Alphabet (GOOGL.US), one of the biggest losers in the fund, fell by about 9%, which was not enough to offset the increase of at least 27% in Vistra Energy (VST.US) and KB Home (KBH.US).

Zhitong Finance App learned that the flagship fund of Third Point LLC, owned by Daniel Loeb (Daniel Loeb), lagged two percentage points behind the US stock market last quarter, mainly because bets on large technology stocks such as Amazon (AMZN.US) and Microsoft (MSFT.US) were wrong or fell short of expectations. According to a letter to investors obtained by Bloomberg on October 16, Third Point's TP Offshore Fund (TP Offshore Fund) return for the third quarter was 3.9%, while the return rate for the S&P 500 index, including dividends, was 5.9% during the same period. Microsoft and Amazon each fell at least 3.5%, while Alphabet (GOOGL.US), one of the biggest losers in the fund, fell by about 9%, which was not enough to offset the increase of at least 27% in Vistra Energy (VST.US) and KB Home (KBH.US).