Dan Loeb: It Is A Bull Market In Government Regulation And Intervention

By

Like his hedge fund brother from another mother, Bill Ackman, Dan Loeb is the sort of investor that doesn’t conform to the ridiculous rule that says one should strive to get his quarterly letters to investors in a timely fashion. While lesser managers feel the need to send their shit out at least within a month of the previous quarter ending, Dan Loeb refuses to let “protocol” rush him. It’s probably easy to make so-called deadlines when you’re simply bull-shitting your way through this stuff, or outsourcing it, but when you’re throwing out pearls of wisdom (see: the zinger above, the scare quotes below, and the ball talk all over the place) like Loeb, you never know when they’re gonna come. It could be while practicing downward dog. It could be during a triathlon training sesh. It could be while sunbathing on the terrace at 15CPW. The point is, you’ll get this thing when you get it and I don’t want to hear a word– not one!– from anyone about how so and so never made you wait. As for the cynical question on all your minds– are Ackman and DL playing a game of chicken to see who can hold out on their investors longer: 1) how dare you and 2) be serious. Loeb may be very good, but Ack-boy is the master. You’re not getting that thing mid 2010. End of discussion.
Screen shot 2009-11-30 at 8.38.25 AM.png


Screen shot 2009-11-30 at 8.38.49 AM.png
Third Point Third Quarter Letter [PDF]

Sign up for the Dealbreaker newsletter

Subscribe to our free daily email and get breaking news, financial headlines, commentary, and analysis from Dealbreaker.

— Advertisement —

Comments (11)

  1. 1
    Posted by guest | November 30, 2009 at 9:38 AM

    it is a bull market in… regulation and intervention.
    -Awesome line

  2. 2
    Posted by guest | November 30, 2009 at 9:40 AM

    @1 agreed.
    -DL

  3. 3
    Posted by guest | November 30, 2009 at 9:47 AM

    I’ve been around loeb’s balls and while not crystal, I can assure you they are shorn like a sheep. you could eat pudding off them and never worry about a curly q getting stuck in your teeth.

  4. 4
    Posted by guest | November 30, 2009 at 9:57 AM

    Written like a true ITT Tech graduate. Awesome!

  5. 5
    Posted by guest | November 30, 2009 at 10:01 AM

    @4 Loeb went to Columbia, thanks for playing.

  6. 6
    Posted by guest | November 30, 2009 at 10:10 AM

    @5: OK…so he went to Columbia. I didn’t know they had an educational system down there as well as a thriving cocaine business!!
    ~AIG Quant

  7. 7
    Posted by guest | November 30, 2009 at 10:16 AM

    Not only do I get my letters out in a timely fashion, but each one has a unique water mark based on the grease stains on my discarded napkins. beat that vegan.
    -you know who

  8. 8
    Posted by guest | November 30, 2009 at 10:24 AM

    “solutions”
    nice

  9. 9
    Posted by guest | November 30, 2009 at 11:16 AM

    I’d take a bet that by the end of the day Zach Kouwe at New York Times Dealbook rips off Bess’s Third Point investor letter and reports it as his own first to the story news.

  10. 10
    Posted by guest | November 30, 2009 at 2:05 PM

    That “kicking the can down the road” line is SO cutting edge. That doesn’t even do justice to an ITT Tech grad. It’s like he couldn’t be bothered to come up with even one original thought.

  11. 11
    Posted by guest | November 30, 2009 at 3:20 PM

    @7 Dan is not a vegan. He still eats fish and sometimes chicken.

Leave a comment

You can log in with your account or comment as a guest below.

   or