Be sure to check out our detailed stock analysis (click here). Billionaire Dan Loeb has made some interesting moves of late. Loeb is the founder of the $11 billion hedge fund, Third Point. He is a notable activist and was instrumental in getting former Yahoo! CEO Scott Thompson outed and current CEO Marissa Mayer hired. His bets on Greek bonds and Yahoo! helped his flagship fund return 21% in 2012. Let's see what some of his big moves were last quarter (check out Loeb's cheap stock picks).
Loeb's sell offs
Loeb's biggest sell off was his dumping of 710,000 shares of Apple (NASDAQ: AAPL), which had been 9.3% of Third Point's portfolio during the third quarter. As it has been well documented, the growth story might be fading for Apple. Revenue grew by 45% in 2012 and is expected to only grow by 14% in 2013.