Loeb's Third Point creams hedge fund rivals again!

Hedge fund manager Daniel Loeb outperformed his rivals again in the first quarter with returns that kept pace with the stock market's recent rally, a person familiar with Loeb's returns told Reuters' Svea Herbst-Bayliss

The New York-based manager told investors late on Thursday that his flagship Third Point Offshore Fund rose 2.8 percent in March while the Third Point Ultra fund, the leveraged version of the Offshore fund, gained 4.2 percent. For the year to date, the Offshore fund, with $5.6 billion in assets, is up 9.2 percent while the Third Point Ultra Fund gained 13.3 percent.  During the same time, the Standard & Poor's 500 stock index climbed 10 percent while it rose 3.6 percent during the month....

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