As noted in our hedge fund performance numbers post, Third Point was up 6.4% for August and 5.1% for September and are now up 27.8% year-to-date. Third Point is a multi-billion dollar hedge fund that has seen annual returns greater than 15% since inception. Manager Dan Loeb focuses on event driven and value oriented investments and recently said he feels "like a kid in a candy store" due to all the distressed opportunities. In his letter to investors, Loeb noted that he liked selective automotive debt plays. For more market insight, we highly recommend checking out Dan Loeb's recommended reading list.
Taken from Google Finance, Energy Partners is
an independent oil and natural gas exploration and production company. As of December 31, 2008, the Company had estimated proved reserves of approximately 90.8 billion cubic feet (Bcf) of natural gas and 21.6 million barrels (Mmbbls) of oil, or an aggregate of approximately 36.8 million barrels of oil equivalent (Mmboe). The Company’s operations are concentrated in the shallow to moderate-depth waters in the Gulf of Mexico focusing on the areas offshore Louisiana, as well as the deepwater Gulf of Mexico at depths less than 5,000 feet. As of December 31, 2008, the Company had working interests in 24 producing fields, primarily located in the Gulf of Mexico region.
Lastly, make sure to watch this video of a recent speech he gave where he details his background and walks us through how Third Point has handled the crisis.