Star Investor Loeb Increases Equity Exposure

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The Street

By Dan Weil Plenty of other investors believe that the stock market’s rise from June 16 to Aug. 16 is just a bear market rally. Plenty of investors believe that the stock market’s rise from June 16 to Aug. 16 is just a bear market rally. After all, the S&P; 500 is still down 17% year to date. But legendary investor Dan Loeb, chief executive of Third Point, apparently isn’t one of them. His U.K.-listed Third Point Investor fund TPOU.L had a 48% net-long-equity exposure as of Aug. 31, according to the fund’s monthly report. That’s the highest level for the fund since February, when it was 50%, a…

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