Daniel S. Loeb

The second quarter delivered a jolt for hedge fund watchers, with some of Wall Street's most storied managers posting eye-catching gains. Among the billionaires, Leon Cooperman topped the list with a 17.02% quarterly equity-weighted gain, while Appaloosa LP and Lone Pine Capital LLC weren't far...

Activist investor Daniel S. Loeb used bad judgement in exiting positions and poor trading strategies in volatile markets, according to his quarterly letter to investors. Loeb's hedge fund Third Point LLC offered a return last year of 5.7 percent -- compared with the S&P 500 Index's...