Daniel S. Loeb
Encyclopedia
Daniel Seth Loeb is an American hedge fund
manager and founder of Third Point LLC, a New York
based hedge fund
managing over $7.5 billion in assets
. Loeb is well-known in the financial world for writing public letters, in which he expresses disapproval of the performance and conduct of other financial executives. Supporters contend his letter writing is effective shareholder activism; critics counter that his letters are distracting for executives and uncomfortable for investors. Less than 10% of Third Point's $7.5 billion goes to shareholder activism.
Loeb is a graduate of Columbia University
; prior to founding Third Point he worked at Citicorp. Loeb reportedly enjoys art collecting, yoga
, and surfing
. In 2005, Loeb achieved a 500% profit when he sold a painting by Martin Kippenberger
. Loeb has argued that the American government is under a 'crisis of leadership' in terms of finances.
Markets Magazine, Loeb grew up in Santa Monica
Canyon in California
, where he was an avid surfer and astute investor from a young age. One of three children of his father, an attorney, and his mother, a historian, he attended Palisades Charter High School
, which was known more commonly at the time as "Pali High" in the Pacific Palisades neighborhood of Los Angeles
. Later, he attended University of California at Berkeley and Columbia University
.
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
manager and founder of Third Point LLC, a New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
based hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
managing over $7.5 billion in assets
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
. Loeb is well-known in the financial world for writing public letters, in which he expresses disapproval of the performance and conduct of other financial executives. Supporters contend his letter writing is effective shareholder activism; critics counter that his letters are distracting for executives and uncomfortable for investors. Less than 10% of Third Point's $7.5 billion goes to shareholder activism.
Loeb is a graduate of Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
; prior to founding Third Point he worked at Citicorp. Loeb reportedly enjoys art collecting, yoga
Yoga
Yoga is a physical, mental, and spiritual discipline, originating in ancient India. The goal of yoga, or of the person practicing yoga, is the attainment of a state of perfect spiritual insight and tranquility while meditating on Supersoul...
, and surfing
Surfing
Surfing' is a surface water sport in which the surfer rides a surfboard on the crest and face of a wave which is carrying the surfer towards the shore...
. In 2005, Loeb achieved a 500% profit when he sold a painting by Martin Kippenberger
Martin Kippenberger
Martin Kippenberger was a German artist known for his extremely prolific output in a wide range of styles and media as well as his provocative, jocular and hard-drinking public persona....
. Loeb has argued that the American government is under a 'crisis of leadership' in terms of finances.
Biography
According to BloombergBloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
Markets Magazine, Loeb grew up in Santa Monica
Santa Mônica
Santa Mônica is a town and municipality in the state of Paraná in the Southern Region of Brazil.-References:...
Canyon in California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, where he was an avid surfer and astute investor from a young age. One of three children of his father, an attorney, and his mother, a historian, he attended Palisades Charter High School
Palisades Charter High School
Palisades Charter High School is a secondary school in Los Angeles, California, United States. The public high school serves the neighborhoods of Pacific Palisades, Palisades Highlands, Kenter Canyon and portions of Brentwood...
, which was known more commonly at the time as "Pali High" in the Pacific Palisades neighborhood of Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
. Later, he attended University of California at Berkeley and Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
.
External links
- A Compilation of Daniel Loeb's letters
- Picture of Daniel Loeb
- http://www.triplemint.com/triplemint/2005/10/15_cpw.htmlDaniel Loeb's penthouse at 15 Central Park West15 Central Park West15 Central Park West, located at the corner of West 61st Street and Central Park West, is an apartment building built in 2006-8 and designed by the architect Robert A.M. Stern....
] - "The Angry Investor," The New Yorker, April 18, 2005
Public letters
- http://www.traderdaily.com/news/item/1285.htmlLetter to Citadel LLC
- Letter to Horizon Natural Resources
- Letter to Intercept Incorporated
- Letter to Ligand Pharmaceuticals
- Letter to Penn Virginia Corporation
- Letter to Pogo Producing Company
- Letter to Nabi Pharmaceuticals
- Letter to Salton Corporation
- Letter to Star Gas Corporation
- Letter to Western Gas Resources