Dan Loeb got hammered during Q3. Third Point lost 6%, bringing its return to 0.2% through the end of September. This is still better than what most hedge funds did. David Einhorn’s Greenlight Capital was down more than 5% through the end of September but the gains in October erased all those losses and brought Greenlight Capital into positive territory. Dan Loeb’s Third Point probably did the same thing and improved its gains significantly in October.
Here is Third Point’s 2011 Q3 investor letter: