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Get Your Head Out of Your Aperture

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DealBooker Andrew Sorkin points us toward the latest letter from Daniel Loeb, who runs the Third Point hedge fund, to directors of Nabi Biopharmaceuticals. DealBook reprints some funny-mean quotes from Loeb's letter but readers who don't click through to the letter itself will miss some of the best lines.

Despite this, you hide your heads in the nearest warm aperture in an apparent "ostrich defense" and ignore your shareholders (the top three now owning over 28% of your shares in aggregate) in the hope that the Company's owners will go away before your next annual meeting.

Presumably it violates the rules of proper etiquette at the Times to mention warm apertures, so we won't hold this lapse against Andrew.

Loeb Pulls Out Poison Pen Again

Loeb's Letter
More Classic Loeb Letters
[Infectious Greed]