While Dan Loeb's Herbalife position grabs most of the attention, his Third Point hedge fund also...

|By:, SA News Editor

While Dan Loeb's Herbalife position grabs most of the attention, his Third Point hedge fund also bought shares of Tesoro (TSO), seeing the potential for a double from the current $40 as the refiner generates ~$9/share in annual excess free cash flow. Loeb thinks impending transactions and projects are underappreciated, and he likes TSO's shareholder-friendly management team.