UPDATE 1-Loeb's Third Point hedge fund bets on stock declines
November 02, 2015 at 11:01 AM EST
BOSTON, Nov 2 (Reuters) - Daniel Loeb's Third Point hedge fund now holds more bets on stock price declines than gains, the billionaire told investors in a letter seen by Reuters on Monday, making him one of the first hedge fund managers to outline a new strategy following a turbulent third quarter.