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Daniel Loeb's Third Point hedge fund has taken a significant stake in Yum Brands, according to an investor letter sent out on Friday...
These factors should create an environment where growth improves and monetary policy stays flexible, which is generally good for equities (higher multiples notwithstanding).
We appreciate their confidence and investment in Yum Brands.
Devon stands out by combining limited downside with an under appreciated, valuable asset base that can be unlocked through continued portfolio management and improved operations.