Loeb Sees Disappointment for Funds Seeking Energy Distress
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Hedge fund manager Dan Loeb warned investors against expecting unrealistic returns if they’re counting on investing in energy companies on the cheap.
“All of the funds that have been set up to capitalize on distress in the oil patch might be disappointed, kind of like European funds that were set up to capitalize on European distressed-debt situations,” Loeb said Friday in a conference call discussing results at Third Point Reinsurance Ltd., the Bermuda-based reinsurer that he co-founded.