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.

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