Investors in Dan Loeb’s Third Point hedge fund who went to its annual meeting last night hoping to learn whether he has sold, hedged or added to his trades in Herbalife were disappointed.
“He said nothing with regard to the [controversy surrounding] Herbalife,” said one attendee of the presentation at the Museum of Modern Art.
Loeb did reveal that he first bought Herbalife shares in the last days of 2012, when they were trading around $30.
That was shortly after the stock fell almost 40 percent following hedgie Bill Ackman’s crusade against the nutritional products company.
Ackman called Herbalife a pyramid scheme that should be shut down by regulators and took a $1 billion short position in the company.
Herbalife’s rise from the Ack-attack low of $26.06 — shares were up 10.4 percent in January — helped Loeb post a better overall return than his rival during the month.
Loeb’s $11.2 billion Third Point finished January up 4.8 percent, according to a letter to investors — a copy of which was obtained by The Post.
Despite the beating he took on Herbalife, Ackman and his Pershing Square fund still pulled down a 3.7 percent gain.
