Billionaire Daniel Loeb Goes Bargain Hunting: 2 Stocks He Just Bought
Investors looking to beat the market could do worse than following the example of Daniel Loeb. The billionaire is the money manager for Third Point, the hedge fund he founded nearly thirty years ago. During that time, he turned $3.4 billion in seed money into a financial powerhouse with nearly $12 billion in assets under management.
Loeb has been called "one of the most successful hedge fund managers of his generation" by The Wall Street Journal, generating average annualized returns of 16% over the span of 28 years, beating the returns of the S 500 by nearly 6%.
The billionaire investor has long stressed investing in "high-quality companies trading at reasonable valuations" but doesn't lose sight of "their prospective growth."
Source Fool.com
