Dan Loeb Made A Big Bet On The Auto Loan Business (ALLY, DOW, COG, RAX)

Dan Loeb is making a big fat bet on auto sales.  Loeb's Third Point just released its latest 13F filing with the SEC, which revealed a new 45.6 million share stake in Ally Financial, the auto loan financier.    Other new stakes that Loeb took during the second quarter include cloud company Rackspace Hosting.  The filing also showed that Loeb added nearly 15 million shares to his stake in Dow Chemical, which is now up to 22 million shares in all, and sold all 4.5 million shares of his stake i...