Third Point's Dan Loeb Betting Big On Junk Financials Including John Thain's CIT Gig


Are U.S. ‘junk’ financials reborn?

Third Point Capital’s Dan Loeb has reported a concentrated position in the financial crisis horror story CIT, which is now being led by ex-Merrill Lynch CEO John Thain:

Third Point via Guru Focus:

CIT is currently one of our largest positions because we believe it presents a compelling option on the potential revitalization of one of the country’s largest middle‚Äźmarket lenders as it transitions (according to our thesis) to a lending institution which will be funded eventually via a retail deposit base.

As shown in the graphic above, financials constitute his largest exposure. A second infamous financial, Citi, is part of the collection as well:


See more at Gurufocus >

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