Highlights From Third Point’s 2020 Q1 Investor Letter

Third Point is a hedge fund founded by Daniel Loeb in 1995. The fund delivered negative returns of about 16% in the first quarter. On April 16, Daniel Loeb said in a letter to investors (download a copy here) that Sony Corporation (NYSE:SNE) stock struggled in the first quarter. The stock has been declining due to the COVID-19 outbreak. Sony has a solid financial position as the company is in a position to monetize assets amounting to 20% of its market cap. In 2020, it is expected that the...