Daniel S. Loeb
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- For the mathematician, see Daniel Elliott Loeb.
Daniel Seth Loeb is an American hedge fund manager and founder of Third Point LLC, a New York based hedge fund managing over $3.5 billion in assets [1] [2]. New York–based Third Point has achieved an average annual return of 28.9 percent since its 1995 groundbreaking[citation needed]. 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 [3]. Supporters contend his letter writing is effective shareholder activism; critics counter that his letters are distracting for executives and uncomfortable for investors [4]. Less than 10% of Third Point's $3.8 billion goes to shareholder activism [5].
Loeb is a graduate of Columbia University; prior to founding Third Point he worked at Citicorp [6]. In addition, Loeb reportedly enjoys art collection, yoga and surfing [7]. In 2005, Loeb achieved a 500% profit when he sold a painting by Martin Kippenberger.
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[edit] Wealth
Loeb's 2005 compensation was $150 million [8] [9]. In 2005, Loeb purchased a $45 million penthouse in Manhattan [10].
[edit] References
[edit] See also
[edit] External links
- Loeb Wire, a collection of Daniel Loeb's letters
- Picture of Daniel Loeb
- Daniel Loeb's New York penthouse at 15 Central Park West
[edit] Public letters
- Letter to Citadel Investment Group
- 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
[edit] Third Point
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